White House's Push For 30% Crypto Mining Energy Tax May Backfire: Expert

Contributing sentiments towards policy:

50% : "Other dominant jurisdictions for BTC mining are China, Russia, Kazakhstan, Iran, Venezuela, Malaysia, Canada," Carter said, noting, "Every single one (w/ possible exception of Canada) has a higher carbon intensity for their generation than the mining-related generation in the U.S."In March, when the U.S. Department of the Treasury released the supplementary budget explainer paper, it underlined that "any firm using computing resources, whether owned by the firm or leased from others to mine digital assets would be subject to an excise tax equal to 30% of the costs of electricity used in digital asset mining.
43% : ""Tax could lead to a decline in mining activities and reduce the network's security and transaction processing speeds, potentially leading to lower demand and lower prices for cryptocurrencies," Agarwal added.

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