US Senator Cynthia Lummis Is Against Imposing Taxes on Crypto Miners

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Cynthia Lummis, a Republican Senator, has spoken out against the proposed cryptocurrency mining tax proposed by the Joe Biden administration.

During a speech at the Bitcoin Miami 2023 conference, she has argued that the American authorities should instead create conditions to encourage the growth and development of the mining industry.

She has noted the US’ position as the world leader in terms of bitcoin power and warned that if Washington were to impose a tight fiscal policy, companies producing cryptocurrency would likely leave for other countries without the support of influential groups in Congress who lobby for the mining industry.

Lummis has concluded:

“It is important for us that the development of this technology, as well as the very production of bitcoins, takes place in the United States.”