US Senator Cynthia Lummis speaks out: Taxing Bitcoin miners may become an obstacle to US innovation

In the field of cryptocurrency, which has attracted much attention recently, US Senator Cynthia Lummis expressed a deafening view, pointing out that the Biden administration's plan to tax Bitcoin miners may have an adverse impact on the United States. Senator Lummis emphasized on many occasions that taxing Bitcoin miners is not only a heavy blow to the development of the industry, but also a blatant challenge to the spirit of innovation.

According to Lummis, the Biden administration has proposed to impose a punitive tax of up to 30% on cryptocurrency mining operations. This move is generally believed to greatly weaken the competitiveness of US Bitcoin mining companies. Lummis bluntly pointed out that such high taxes will put US Bitcoin mining companies into an unprofitable dilemma, forcing them to seek overseas development opportunities, thereby accelerating the global migration of the cryptocurrency industry.

Lummis further pointed out that the cryptocurrency industry, as a representative of emerging technologies, is leading a new round of changes in the global economy. Taxation of Bitcoin miners is different from curbing the innovative momentum in this field, which may eventually affect the United States' leading position in the global cryptocurrency field. She called on the government to carefully consider tax policies and avoid excessive intervention in specific industries to ensure the continued prosperity and innovative vitality of the US economy.

Lummis's views have resonated widely in the industry, and many cryptocurrency enthusiasts and practitioners have expressed their support, believing that the government should pay more attention to the healthy development of the industry rather than simply intervening through taxation. At the same time, this has also triggered in-depth discussions on how to find a balance between promoting innovation and protecting taxation.

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