Due to its prevalent and cheap geothermal power, Iceland has become something of a mecca for Bitcoin miners. However, all this may change, as one lawmaker is proposing a tax on cryptocurrency miners in the country. Smari McCarthy, who is proposing the legislation, took the opportunity to slam Bitcoin, saying that Iceland is spending much of its power producing “something that has no tangible existence and no real use for humans outside the realm of financial speculation.”
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Dan Burgin
Vladislav Sopov
U.Today Editorial Team