Riot Platforms VP of Research

By Crypto IS TO 2024-03-12 92
Pierre Rochard, Vice President of Research at Riot Platforms, has expressed concerns about President Biden's proposal to impose a 30% tax on cryptocurrency mining electricity. According to Rochard, this tax is not just about revenue generation, but it also reflects a deeper agenda to stifle the rapid growth of the cryptocurrency market.

Rochard believes that the proposed tax is a covert attempt to hinder the expansion of Bitcoin and other cryptocurrencies, in order to pave the way for the implementation of Central Bank Digital Currencies (CBDC). Even more concerning is the fact that the tax would apply to all miners, regardless of whether they use renewable energy sources, raising questions about its fairness and underlying motives.

Overall, Rochard's comments shed light on the potential implications of the proposed tax and the speculation surrounding its true objectives. This adds another layer of complexity to the ongoing debate about the regulation and taxation of cryptocurrencies.