Icelandic Lawmaker Floats Bitcoin Mining Tax

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Smari McCarthy of the Icelandic Pirate Party suggested imposing a new tax on bitcoin mining companies when asked about their position on this new financial market.

According to him in an interview, “Under normal circumstances, companies that are creating value in Iceland pay a certain amount of tax to the government. These companies are not doing that, and we might want to ask ourselves whether they should.”

There is a possibility that this idea will gain favor among the other lawmakers even from the other parties, especially in light of the increasing demand for the country’s cheap electricity resources.

“We are spending tens or maybe hundreds of megawatts on producing something that has no tangible existence an no real use for humans outside of the realm of financial speculation. That can’t be good.”

 

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