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Pro-Bitcoin Senator Trashes Biden’s ‘Bullish On Crypto’ Budget: 30% Tax Would ‘Destroy Any Foothold The Industry Has’

Sen. Cynthia Lummis (R-Wyo.)on Tuesday voiced concerns over a tax proposal that appears in the White House’s 2025 budget draft. What Happened: She said that the government is apparently optimistic toward cryptocurrencies, but warned of the dangers of a hefty tax. “The White House 2025 budget is incredibly bullish on crypto assets, some might even say they believe it’s going to the moon. But a proposed 30% punitive tax on digital asset mining would destroy any foothold the industry has in America,” Lummis said in a post on X. President Joe Biden’s proposed budget for the next fiscal year, which…