Biden Says He’s Not Ready to Strike Deal With ‘Crypto Traders’

Biden Says He’s Not Ready to Strike Deal With ‘Crypto Traders’

Facebook
Twitter
LinkedIn

president Joe Biden said Sunday that he would not approve a budget deal that favored wealthy tax dodgers and cryptocurrency traders over struggling Americans.

What happened: speaking at group of seven (G7) forum in Japan, Biden said his latest draft budget includes over $1 trillion in spending cuts, in addition to the $3 trillion in deficit reductions he previously proposed through spending cuts and new revenue.

In a news conference, he called on Republican lawmakers to protect wealthy tax dodgers and cryptocurrency traders while jeopardizing food aid for nearly a million Americans.

“Let me be clear that I will not … agree to a deal that protects wealthy tax dodgers and crypto traders while jeopardizing food aid for nearly a million Americans,” he said.

His warning comes as negotiations on the new budget are ongoing and the US government may face default by June 1 if no agreement is reached.

The G7, an intergovernmental political forum composed of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, provides a platform for multilateral talks and negotiations.

See more:The art of the future: Lisa Ray’s TheUpsideSpace puts NFTs in the spotlight

Why it matters: That comes as Marathon Digital Holdings Inc MARA CEO Fred Thielhas warned that Biden’s tax on American Bitcoin BTC/USD The miners will likely prompt them to move their operations out of the country Generation of intended funds.

Price promotion: At the time of writing, BTC is trading at $26,648.35, down 1.87% over the past 24 hours. according to Benzinga Pro.

Continue reading: Bitcoin, Ethereum and Dogecoin fall after Powell’s dovish comments: Trader predicts cryptocurrency king to hit $300,000



Source story

More to explorer