BIDEN HAS PROPOSED A 30% TAX ON CRYPTOCURRENCY MINING
The opposite of all this will accomplish is to drive miners out of the USA and probably over to China. America's Political hate Bitcoin and it Gross. There is a country that is doing the exact opposite of what the USA is doing which is the tiny Himalayan Mountain Kingdom of Bhutan. They have apparently been mining Bitcoin using cheap and abundant Hydro electric power becoming the second confirmed state actor to do this after El Salvador. Some countries have passed laws for Bitcoin miners or offered them tax incentives. Only so far we have direct confirmation that the Bhutan and El Salvador governments of countries mining Bitcoin are state-level actors.
We could be getting close to seeing a third state-level actor entering the Bitcoin mining Arena. Recent announcements from the Russian Central Bank seem to indicate that they could be forming a state-run set of Bitcoin mines to use for international transactions. Although, many suspect Russia and in particular, Russia's intelligence agencies have been mining for a while but it is never been made public. The rise of meme coins with frog pictures has taken off, what is remarkable is seeing it going from zero to half a billion dollar market cap in just 18 days. It reached the 90th position amongst cryptocurrencies. It gained 53,000 holders in just 13 days and it did a quarter in trading volume on Monday and it still gets a lot of interest in it. Meme coin do this, they can explode something overnight riches basically playing the lottery. The stories of people crashing out for millions are the light that draws in new money like Moths to the flame. A lot of people were sharing the story of a trader the other day, they sold like 2.2 million dollars for Pepe but they end up getting 1.7 million dollars losing half a million dollars due to slippage.