Summary
- New York State Senator Liz Krueger reportedly introduced a surtax bill targeting Bitcoin (BTC) mining companies.
- The bill applies a progressive tax to large-scale mining companies and said it could result in a tax burden more than twice that of competitors.
- Small-scale mining firms are exempt, but it said the measure is expected to negatively affect the profitability of large-scale mining companies.
On the 2nd (local time), according to crypto media BeInCrypto, New York State Senator Liz Krueger introduced a surtax bill targeting Bitcoin (BTC) mining companies.
The bill's core is to impose a progressive tax on mining companies, and the revenue raised from the tax will be used to subsidize citizens' utility bills.
Small-scale mining firms are exempt from taxation, but large-scale companies would be structured to pay taxes up to more than twice those of competitors.
Senator Krueger emphasized, "The energy-intensive mining industry is shifting burdens onto local communities," and added that "mining companies must contribute to the public."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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