Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives

📆 29-03-22 08:21:00
📰 Cointelegraph

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Senator Ron Wyden requested information from three entities involved in crypto mining to investigate whether they are giving back economic benefits to their communities in exchange for tax benefits.

in 2017 and designed to offer tax incentives to companies that create jobs and drive private investment into economically distressed communities.

Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program.Last July, Argo Blockchain CEO Peter Wall specifically stated that the location of his company’s Dickens County, Texas, mining facility was chosen specifically because of itsand abundance of renewable energy.

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