The U.S. debt deal to forgo a default is under final review.
And allegedly, it doesn't include any tax on crypto mining companies.
Here are the details.
Biden proposed a mining tax as an effort to curb emissions while profiting from the industry.
Biden had also proposed wash trading rules that would stop players from selling certain crypto at a loss for tax benefits.
Neither of the ideas is included in the deal.
And thus, U.S. regulation meanders forward without a particular direction.
For what it's worth, an absence of a crypto tax is likely a bullish catalyst for the industry. But it's unclear how much weight this news really carries.
Meanwhile, crypto firms are capitalizing on the early stages of a new industry. Popular UK investment bank Atlantic Equities just referred to Coinbase as one of the best-situated crypto firms to achieve long-term profitability.
Read more here.
There's a daily chart of Coinbase Global Inc. (NASDAQ: COIN) below …
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