Ohio Representative Warren Davidson has revealed that a potential agreement is underway to prevent the United States from defaulting on its debts, and this agreement could potentially remove a proposed tax on the energy consumption of cryptocurrency miners. The draft bill, released by lawmakers on May 28, aims to raise the debt ceiling, enabling the government to continue borrowing funds and fulfilling its financial obligations. Initially, President Joe Biden had pushed for tax increases on corporations and high-income individuals as part of the agreement, but the latest version of the bill suggests that these tax hikes may not be included. Davidson took to Twitter to announce that the bill would block proposed taxes, including the 30% tax on electricity used by crypto miners, which had been proposed in President Biden’s FY2024 budget. However, the bill still awaits congressional approval before it can be enacted, and it is scheduled to undergo voting in the House of Representatives on May 31.
US district judge refers FTX independent examiner issue to appellate court
A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...
