{"id":133940,"date":"2024-07-24T21:00:35","date_gmt":"2024-07-24T18:00:35","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133940"},"modified":"2024-07-24T14:53:15","modified_gmt":"2024-07-24T11:53:15","slug":"u-s-senator-opposes-bidens-proposed-30-tax-on-bitcoin-mining-electricity","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-s-senator-opposes-bidens-proposed-30-tax-on-bitcoin-mining-electricity\/","title":{"rendered":"U.S. Senator Opposes Biden\u2019s Proposed 30% Tax on Bitcoin Mining Electricity"},"content":{"rendered":"<p>She argues that this tax could harm the U.S. <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> mining industry, which has grown significantly since China banned Bitcoin mining in 2021.<\/p>\n<p>Lummis asserts that the U.S. became a major hub for Bitcoin mining due to its robust energy market and legal protections. The proposed tax, she fears, might drive mining operations abroad and is based on outdated views about energy use.<\/p>\n<p>Her <strong><a href=\"https:\/\/www.lummis.senate.gov\/wp-content\/uploads\/Bitcoin-Mining-Paper-FINAL.pdf\" target=\"_blank\" rel=\"nofollow\">report<\/a><\/strong> highlights the economic benefits of Bitcoin mining, such as job creation and support for energy infrastructure, and argues that the tax could damage these advantages.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/here-is-how-trumps-presidency-could-affect-the-crypto-industry\/\" title=\"Here is How Trump\u2019s Presidency Could Affect the Crypto Industry\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/trump-sp-500-bitcoin-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Here is How Trump\u2019s Presidency Could Affect the Crypto Industry<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Lummis also challenges the administration\u2019s claims that Bitcoin mining disrupts energy grids, citing research showing that mining actually helps stabilize them.<\/p>\n<p>She concludes that failing to support Bitcoin mining could lead to the U.S. losing its leadership position in the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senator Cynthia Lummis is opposing the Biden administration&#8217;s proposed 30% tax on the electricity used by Bitcoin miners.<\/p>\n","protected":false},"author":3,"featured_media":37346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,25],"tags":[],"class_list":["post-133940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Senator Opposes Biden\u2019s Proposed 30% Tax on Bitcoin Mining Electricity<\/title>\n<meta name=\"description\" content=\"Senator Cynthia Lummis is opposing the Biden administration&#039;s proposed 30% tax on the electricity used by Bitcoin miners.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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