friendly economic reporter is listed. The picture now looks like factories built in the desert. Is this a virtual asset mining plant installed in China?


This is a virtual asset mining site that was photographed two years ago in China's Xinjiang Uyghur Autonomous Region.

The nine large factories you just saw were all about getting virtual assets, with a huge amount of computer equipment that was performing complex calculations non-stop for 24 hours.

Even Chuck thinks, "Hey, I'm going to pay a lot of electricity." The President of the United States thinks the same thing.

In the future, the White House announced plans to pursue a kind of punitive taxation on those who mine virtual assets in the United States.

Where President Biden's views on the economy are made, the White House Council of Economic Advisers, the U.S. president's economic policy advisory team, posted last week.

Virtual assets can be bought and sold through exchanges and the like.

Just like digging gold buried in the ground, you can find new ones on the blockchain through computer computation. It's mining.

This is not something you can find by doing a little bit of work alone with a PC at home, but it is actually possible only by using a computer of enormous scale and continuing to perform complex calculations.

I mean, I use a lot of electricity. The White House Council of Economic Advisers says it will tax 30 percent of the huge electricity bills used by crypto miners.

For this reason, they say that mining virtual assets is passing on a great cost to society beyond the money paid for electricity.

<Anchor> It seems that the mining of virtual assets, which certain people do to make money,

is ultimately passing on the cost to society. Ultimately, it seems to have something to do with electricity bills and environmental issues.

These are the statistics presented by the
White House.

That's about the same electricity that 340 million Americans in the U.S. use to watch television at home, similar to the electricity used by some virtual asset mining sites in the U.S.

Except for the latecomers, this is what they say when they look at the electricity used to mine Bitcoin and Ethereum.

He also mentioned a New York Times article that 34 virtual asset mining farms, the largest in the United States, use the same electricity as 3 million homes.

After all, virtual asset mining is responsible for environmental pollution.

Even if electricity is generated from eco-friendly energy such as solar power, it draws so much electricity that can be used by other homes and buildings in the vicinity that it does not allow us to stop relying on existing fossil fuels.

Of course, there are many industries that consume a lot of power to run factories and machines.

However, in cryptocurrency mining, as Anchor just said, only miners benefit, so the position is to reward society with taxes.

When we buy a car, we pay individual consumption tax. Although they often give me cuts. It's a kind of environmental tax justification.

The exhaust gases emitted by automobiles and the resulting environmental pollution are taxes paid on social costs.

The idea is to impose an environmental tax similar to this individual consumption tax on virtual asset mining, but if it is pursued as stated on the White House page, the tax rate will be quite high.

We even estimated that if we can pass on the mining tax as planned, we will be able to collect about 4.55 trillion won in taxes over the next 10 years.

<As anchor
Kwon explained, the surest way to pass on taxes and make them financially responsible seems to be the surest way, but can such a tax actually be created?

<Reporter> Right
it seems a little difficult. To create a new virtual asset mining tax, the United States must also make a law.

But right now, the party that is more dominant in the House of Representatives in the U.S. Congress is the opposition Republican Party, and the Republican Party doesn't really like to impose a lot of regulation on virtual assets.

However, it is clear that the US government is keeping a close eye on virtual asset mining.

The White House website also mentions that nine countries, including China, have imposed a total ban on virtual asset mining, and the United States will not do so, but it has once again signaled that it is committed to strong regulations, including punitive taxation.

Concerns about the fact that virtual asset mining is not just a waste but consumes too much energy have been steadily growing over the years.

And the environment is also the environment, but the more fundamental thing is that the US government also shares the negative perception of degovernmental, decentralized virtual assets.

Although there is now a more widespread perception that virtual assets are indeed assets, and their function as money is actually difficult.

Still, governments are not looking at virtual assets that have crossed the place of money issued by the country, including the representative bitcoin, which emphasized the monetary function in the early days.

Now, governments are in the stage of formulating specific measures to deal with digital assets, and it seems that this stance of the United States will have more impact on us.