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What will be the initial response from major cryptocurrency companies to IMF's proposed 85% electricity tax hike by October 31, 2024?
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Resolution / Starting Odds
Support the proposal • 25%
Oppose the proposal • 25%
Neutral stance • 25%
No official response • 25%
Official statements from cryptocurrency companies, major financial news outlets
Story
IMF Proposes 85% Electricity Tax Hike on Crypto and AI
Aug 16, 2024, 11:48 AM
The International Monetary Fund (IMF) has proposed a significant increase in electricity taxes for crypto miners and AI data centers, suggesting an 85% hike. This proposal is part of an effort to address the surging carbon emissions attributed to these industries. The IMF's report highlights the environmental impact of both AI and cryptocurrency operations and suggests that regulatory measures, such as a 'cryptocarbon' tax, could mitigate these effects. The proposal has sparked a debate, with some stakeholders in the cryptocurrency community offering rebuttals and calling for a pause to consider the implications.
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Relocation to Tax-Free Regions • 25%
Investment in Renewables • 25%
Legal Challenges • 25%
Compliance with Tax • 25%
Implement geo-restrictions for Italy • 25%
Increase fees for Italian users • 25%
No significant change • 25%
Other • 25%
United States • 25%
China • 25%
Germany • 25%
Other • 25%
Other countries adopt similar policies • 25%
Criticism from international bodies • 25%
No significant international reaction • 25%
Increase in cross-border crypto regulations • 25%
Exchanges leave Italy • 25%
Exchanges increase fees • 25%
Exchanges implement compliance measures • 25%
No significant changes • 25%
Increase in compliance and reporting • 25%
Shift operations to other countries • 25%
Increase in underground trading • 25%
No significant change • 25%
Positive • 25%
Negative • 25%
Neutral • 25%
Mixed • 25%
Launch new initiatives • 25%
Increase investments • 25%
No major response • 25%
Other • 25%
Yes • 50%
No • 50%
No change • 25%
Increased scrutiny • 25%
Temporary halt on Bitcoin trading • 25%
Other • 25%
Binance • 25%
Coinbase • 25%
Bitfinex • 25%
Other • 25%