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US Debt Ceiling Agreement Blocks Proposed 30% Tax on US Cryptocurrency Mining

The US Debt Ceiling Agreement is causing quite a stir with its latest update . The controversial Mining Related Energy Consumption (DAME) excise tax provision originally suggested by the Biden administration has been unexpectedly removed from the deal . This unexpected twist has sparked debates and raised questions about the fate of the tax and what it means for the cryptocurrency mining industry .

The Controversial Mining-Related Energy Consumption (DAME) Tax Provision Removed from the Deal

Back in March President Biden tossed around the idea of slapping an excise tax on energy usage in cryptocurrency mining . The goal was to tackle the economic and environmental costs associated with mining digital assets, which have been on the rise lately .

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