According to Yahoo News, the Council of Economic Advisers (CEA) is pushing for the Digital Asset Mining Energy (DAME) excise tax. The CEA stated that crypto mining firms currently do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions. The CEA argues that the DAME excise tax will compensate for the harmful consequences of crypto mining. “Cryptominers’ high energy consumption has negative spillovers on the environment, quality of life, and electricity grids where these firms locate across the country,” the CEA said.
Last month, the Texas Blockchain Council launched its “Don't Mess with Texas Innovation” campaign to fight back against a bill aimed at eliminating incentives for Bitcoin miners in the state.
