The Biden Administration has omitted the 30% crypto miner tax from the debt ceiling bill despite big anti-crypto talks around taxes. It looks even more certain crypto was never a real debt ceiling issue and they just made crypto into a scapegoat and something to be vilified
Weeks ago the Biden administration was floating a 30% tax on energy costs incurred by crypto miners. Just several days ago, Biden made statements on the debt ceiling said he would not agree to a deal that benefits wealthy tax sheets and crypto traders. We've also seen very shady moves and statements by the FDIC, Treasury and Fed in what looked to be anti-crypto in nature early this year.
Regardless of what Biden had said prior, the current Bill to raise the debt ceiling does not include the DAME(digital assets mining energy) tax that was to stamp the aforementioned 30% tax on crypto miners. This obviously stands in contrast with what Biden said previously, even though much of the content of this Bill has already been "pre-approved" by the leadership of both parties.
For all the talk and bluster by the Biden administration about "coming for those who use crypto to evade taxes", they have done very little to actually implement measures to prevent all this supposed tax evasion. I'd imagine, this is because the reality is that crypto is such a nothingburger in the grand scheme of tax evasion that they'd probably spend more money implementing these anti-evasion system that they'd actually recover from using the systems. As the IRS Chief said that tax losses from evasion is around 1 Trillion, meanwhile the entire crypto market cap is barely over 1 Trillion. It just doesn't add up.
Unfortunately, more likely is that it was all just talk to create a new enemy to distract people while politicians do their shady deeds, while also to satisfy some wealthy donors who just have it in for crypto.