Biden, McCarthy Debt Ceiling Deal Spares Bitcoin Miners From 30% Tax, Says Congressman

President Joe Biden and House Speaker Kevin McCarthy on Sunday reached an agreement on the U.S. debt ceiling, which included a provision that blocked several proposed taxes by the Biden Administration, including the Digital Asset Mining Energy (DAME) excise tax. What Happened: The DAME tax aimed to impose a 30% tax on cryptocurrency mining firms, as the administration argued that it would limit the environmental and societal damage caused by crypto mining operations.