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<p><a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/">Riot</a> Platforms' Vice President, Pierre Rochard, voices strong opposition to President Biden's proposed 30% tax on <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> for crypto mining, casting it as a strategy to suppress the crypto market's expansion. This tax is part of the Biden administration's budget proposal, which seeks to leverage the growing digital asset market for increased revenue through regulatory measures. Rochard raises concerns about the tax's fairness and its possible stifling effect on innovation within the cryptocurrency ecosystem, according to <a href="https://coingape.com/riot-exec-explains-reality-behind-president-biden-30-crypto-mining-tax/">Coingape</a>.</p> 
<p>The debate intensifies as Rochard suggests the tax could hinder Bitcoin's growth and possibly pave the way for a Central Bank Digital Currency (CBDC), despite its inclusion of renewable energy users. This move aligns with Biden's broader regulatory agenda, aiming to generate substantial government revenue from the digital asset sector. Projections estimate this could bring in $10 billion by 2025 and over $42 billion in the next decade through various measures, including an excise tax on crypto mining and enhanced information reporting requirements.</p>

Riot VP Challenges Biden’s 30% Crypto Mining Tax: A Call for Fairness

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