Expert Insight: Taxing Bitcoin Miners Could Hinder US Innovation and Economic Growth
Publication Time:2024-07-24 07:12:05
Senator Cynthia Lummis of the United States has voiced her concern that implementing tax policies targeting Bitcoin miners could pose detrimental effects on the country's economy and innovative activities. In her remarks, she referred to the Biden administration's proposed tax plan as an 'outright assault' on innovation, suggesting that such measures may curb growth and technological advancements in the cryptocurrency sector. Lummis' comments highlight the importance of considering the unique aspects of the technology industry during policymaking, and how to promote tax revenues without undermining potential drivers of economic expansion.
Bitcoin
Innovation
US Economy
tax policy
Miners