U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

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2023-03-10

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Summary：A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.

A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.

TAG： U.S. Treasury Department budget proposal digital asset excise tax

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