US EditionNew York Targets Bitcoin Mining With Proposed Tax Hike Bill
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18 Articles
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New York Targets Bitcoin Mining With Proposed Tax Hike Bill
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New York Targets Bitcoin Mining With Proposed Tax Hike Bill - Nemos News Network
New York Targets Bitcoin Mining With Proposed Tax Hike Bill Authored by Frank Corva via BitcoinMagazine.com, Yesterday, two members of the New York State (NYS) Senate introduced Senate Bill 8518 (S8518), which imposes excise taxes on digital asset mining using the proof-of-work consensus mechanism, making it even more difficult than it already is for bitcoin miners to operate in the state. S8518, which was co-sponsored by Liz Krueger (D) and An…
New York State is considering a tax on cryptocurrency mining, seeking to have the costs borne by businesses rather than citizens. Read more
The Bitcoin mining industry is threatening new trouble in the U.S. state of New York. Do higher electricity taxes destroy the business? Source: BTC-ECHO BTC-ECHO
Key Points in the News New York lawmakers are moving forward with a bill introducing a phased tax on energy used by Bitcoin's mining facilities, increasing operational pressure on companies that already manage reduced margins.Only firms that operate with 100% renewable energy would be exempt, effectively benefiting large and well-capitalized operators, while punishing smaller competitors. Voices in the sector warn that the policy could accelerat…
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