• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, June 27, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Climate Change Tax On Crypto

Will Izuchukwu by Will Izuchukwu
May 25, 2023
in Featured
Reading Time: 3 mins read
0
crypto taxes
Share on TwitterShare on Facebook

Recently, The Biden administration is proposing a 30% tax on the electricity used in cryptocurrency mining in order to minimize the industry’s impact on climate change. As proposed, the tax would be phased in over three years, starting at 10% next year, then rising to 20%, and finally 30%.

The White House is of the opinion that cryptocurrency mining is a major contributor to climate change, and that the tax is necessary to make sure that the United States is not subsidizing the environmental costs of this activity. The argument made in the proposal is that cryptocurrency mining companies do not already cover all of the costs they place on society, including increased energy costs, local environmental damage, and climate change caused by increasing greenhouse gas emissions.

On the other hand, the cryptocurrency industry has been critical with the proposal, arguing that it would stifle innovation and make the United States less competitive in the global crypto market.

It is still unclear whether the tax will be passed by Congress. However, the proposal is a sign that the Biden administration is taking the environmental impact of cryptocurrency mining seriously.

Here are some of the advantages and disadvantages of the climate change tax on the crypto space:

Good Side:

  • The tax could help to reduce the environmental impact of cryptocurrency mining.
  • The tax could generate revenue that could be used to fund climate change mitigation efforts.
  • The tax could help to level the playing field between cryptocurrency miners and other energy users.

Bad Side:

  • The tax could stifle innovation in the cryptocurrency industry.
  • The tax could make the United States less competitive in the global crypto market.
  • The tax could be difficult to enforce.

Overall, It is still too early to say what the impact of the climate change tax on crypto will be. However, with the proposal, the Biden administration looks all serious with crypto mining. Cryptocurrency and the blockchain space is here to stay and will definitely scale through as many obstacles that come in its way.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Photo by Kelly Sikkema on Unsplash

Previous Post

Are NFTs dead? What’s the future of NFTs?

Next Post

Twitter Revenue Drops Again, Tradecurve Presale Tokens Set To Rally 80%

Related Posts

Featured

Dogecoin Price Faces Breakdown

June 20, 2025
Featured

CZ Warns of Deepfake Scams

June 20, 2025
Featured

Trump Earns $57M from Crypto Venture

June 14, 2025
Featured

Zhao DEX Could Challenge HyperLiquid

June 8, 2025
Featured

Trump vs Elon Musk: Dogecoin Tumbles on Market Fear

June 7, 2025
Featured

Dow Rises, Tesla Drops After Musk-Trump Feud

June 5, 2025

Press Releases

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

by Alex Mercer
June 24, 2025

Introduction If you blinked, you might’ve missed Jupiter’s brief moment in the spotlight. The DAO behind the once-buzzy token has...

Read more
Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

June 19, 2025
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier