There’s seemingly a constant conversation, particularly with those involved in legacy financial institutions, about how cryptocurrency can be – to a certain degree – “de-risked.” Can government mining, or merely taxation structure, address this? While many traditional financial players that are not crypto-first, but are crypto-adjacent (take Visa as a prime example) are relying on the use of stablecoins like USDC as their main pillar of transactions, there are other conversations happening about how crypto risk can be managed. Government bodies are always looking to get a piece of the pie; a large pitch of the state-by-state legalization of marijuana or sports gambling throughout the U.S. was the substantial tax revenue that states wouldn’t be seeing otherwise. In fact, just last month the Wall Street Journal published a piece outlining how governments across the globe are getting more involved in mining royalties and taxation, including a new silver and gold tax for mines in Nevada that went into effect last month. Taxation is the root of the domestic discussion around crypto for U.S. policy as we speak. Government Mining: Is It Feasible? Feasibility is of course, the first question to come to mind. Would governmental bodies have the capacity and know-how to truly execute crypto mining? The red tape is flowing. However, some argue that in fact, Bitcoin (and broader crypto) mining is becoming more and more ad...
