Bitcoin-friendly The Biden Administration’s planned 30% excise tax on Bitcoin miners, according to Republican Senator Cynthia Lummis, is unlikely to pass the House.
The politician maintained his support for miners while speaking on stage at Bitcoin Miami 2023 and said he thought it was important for national security that the sector spread around the country.
Boring explained that companies within their membership, which represent 50% of Bitcoin’s hashrate, were “incredibly concerned” that they wouldn’t be able to operate in the United States if the tax were passed.
In response, Lummis gave Bitcoiners some consolation.
“That isn’t going to happen,” she said. “It’s absolutely important that the development of this technology, as well as Bitcoin mining itself, to occur in the United States.”