Sweden is abolishing tax incentives for data centers in July, and the Bitcoin mining industry may ultimately be destroyed in the country.
April 14, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $30,198 | Bitcoin price tapped the $31,000 level overnight, before retreating back near the $30,000 to begin Friday. | Top-20 altcoins are a mixed bag, as Ether gains another 3%, BNB rises less than 1% and Solana falls 3%. | Top Stories for April 14, 2022 🔥 | | Sweden is abolishing tax incentives for data centers in July, and as a result, the Bitcoin mining industry may ultimately be destroyed in the country. | Energy prices in Europe have increased in the past year due to the war in Ukraine, which has generally driven out bitcoin miners. The northernmost regions of Norway and Sweden were some of the last areas where the industry was still profitable and operating. | However, the upcoming tax will increase 60-fold per kilowatt hour starting in July, and will likely stop any new investment in Sweden. Miners are disappointed by how the tax hike was rolled out, with what seemed like little notice or communication. | | Bitrue, a centralized cryptocurrency exchange, has suffered a hot wallet exploit resulting in the withdrawal of almost $23 million worth of various crypto assets. | The exchange has temporarily suspended all withdrawals and will reopen them on April 18, 2023, after conducting additional security checks. Bitrue has promised to fully compensate all the identified users affected by the incident. | The exchange has stated that the affected hot wallet accounted for less than 5% of the exchange's overall funds and the rest of the wallets remain secure. | | The US Securities and Exchange Commission (SEC) is expected to clarify that rules governing trading exchanges in the US also apply to decentralized finance (DeFi) on Friday. | The move is an effort to make explicit whether existing exchange rules apply to DeFi and may foreshadow increased policing by the regulator of decentralized digital asset trading. | DeFi projects that bring together multiple buyers and sellers for the trading of assets could be considered securities exchanges by the SEC, and subject to civil charges if they fail to register as national securities exchanges or broker-dealers in the country. | | Today on Milk Road: Post-Shapella update, Twitter 🤝 eToro, and Funding Friday. |
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