🇦🇿 "Solidarity Taxes": COP29 Proposes Taxing 💸 Bitcoin Mining Due to Its Environmental Impact 🌱

🇦🇿 "Solidarity Taxes": COP29 Proposes Taxing 💸 Bitcoin Mining Due to Its Environmental Impact 🌱💫 What's behind the new tax called "solidarity taxes"?

COP29, the 29th UN Conference on Climate Change, held in Baku (Azerbaijan)🇦🇿, seeks solutions to limit global warming. The proposals include taxing cryptocurrency transactions, Bitcoin mining, and capital gains, with estimated revenue of up to $344 billion annually. The funds would be used to support the climate transition in developing countries and reduce the CO₂ emissions associated with the cryptocurrency industry.

🔵 What is COP29?
An international conference where global leaders strategize against climate change, focusing on limiting the global temperature rise to 1.5 °C.

😠 Learn about the main points of the proposal:

💡 Crypto Tax: A 0.1% tax on transactions could generate $15.8 billion per year.

💡 Energy Cost: A tax of $0.045/kWh on Bitcoin mining would generate $5.2 billion per year.

💡 Capital Gains: A 20% tax would raise up to $323 billion per year.

💡 Final Objective: Raise funds for energy transition efforts in developing nations and promote a more sustainable global economy.

💭 Many see the "solidarity tax" proposal as a crucial step toward achieving climate 🌱 and fiscal justice. What’s your take on this initiative?

#CryptoTax 🌿 #COP29 #ClimateJustice

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