In a surprising twist for Bitcoin mining, the proposed Digital Asset Mining Energy (DAME) tax has been removed from the table in the US debt ceiling deal.
US Congressman Warren Davidson recently revealed that some taxes, including the controversial 30% tax on cryptocurrency mining companies, have been blocked.
This decision is a relief for the cryptocurrency industry and marks a significant victory for Bitcoin mining advocates.
Tax on mining Bitcoin and other crypto blocked, the industry is thankful
The DAME excise tax was initially proposed by the Biden administration, which argued the need to address environmental and social problems associated with cryptocurrency mining operations.
The tax aimed to impose a heavy 30% levy on such mining companies, with the goal of reducing their energy consumption and environmental impact.
However, its exclusion from the final agreement between President Joe Biden and House Speaker Kevin McCarthy suggests a change in the government’s positi
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