Europe-manufactured Bitcoins facing potential US tariffs under Trump's plan
The Bitcoin Blog (BitcoinBlog.de) reports on a controversial new measure proposed by US President Trump, aiming to make the USA the "Crypto Capital of the World." Trump's proposal includes a 20% surcharge on Bitcoin exchanges selling Bitcoins traded in the EU.
However, the EU appears two steps ahead, with their high electricity prices making Bitcoin mining insignificant for their economy. Finance Minister Howard Lutnick praised the proposal, stating that tariffs can be beneficial despite initial economic hurdles.
The surcharge is intended to make European Bitcoins less attractive on US exchanges, potentially strengthening the domestic mining industry in the USA. Trump's "Crypto Czar", Jeffrey Sachs, submitted a report proposing these tariffs.
Despite Trump's announcement, the EU remains calm about the proposal. The press office of Commission President Ursula von der Leyen stated that Trump does not understand Europe. Von der Leyen has not publicly commented on the proposal.
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As this story unfolds, it will be interesting to see how the EU and USA navigate this potential shift in the cryptocurrency market. Stay tuned for more updates from BitcoinBlog.de.
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