Bitcoin just bounced off a historic line of support at $20,000 as the Biden Administration launches an all-out assault on cryptocurrency and the 50 million registered American voters who own digital assets.
The latest jab stems from President Biden’s dead on arrival tax plan, which would impose a 30% tax on the energy used for Bitcoin mining, reports the New York Times.
The plan would also stop crypto investors from selling assets at a loss and quickly rebuying them in order to save on taxes, reports Bloomberg.
This follows news that the US government just sent $217 million in confiscated Bitcoin to the crypto exchange Coinbase, where it could be sold on the open market.
It also comes amid the liquidation of the crypto-friendly bank
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