Pierre Rochard, Vice President of Research at Riot Platforms, stated that President Biden's proposal to impose a 30% tax on cryptocurrency mining electricity is an attempt to secretly suppress the booming cryptocurrency market. There is a hidden agenda behind the tax, which is an attempt to suppress Bitcoin growth and pave the way for CBDC. Even miners using renewable energy cannot exempt from this proposed tax, which has raised concerns about its fairness and potential motives.
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Riot Platforms VP of Research: Biden Administration’s Proposal to Tax Crypto Mining Electricity by 30% Is Market Suppression
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After a spectacular November, most Smart Contract Platforms (SCPs) experienced significant price corrections in December. The Market Vectors Smart Contract Leaders Index (MVSCLE) declined by 12%, with ETH down 10% and SOL plunging 21%. Conversely, BTC demonstrated resilience, down only 4%, thanks to consistent buying from MicroStrategy and the exchange-traded products (ETPs). Notable token gainers in December included MNT (+38%), TRX (+23%), and SUI (+20%). Despite altcoins’ underperformance in the month, daily transactions across all chains reached a record high of 13.7M, surpassing November’s 13M.
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