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Senator Iraja Silvestre Filho proposed to the Brazilian parliament to exempt miners who mine cryptocurrency using green energy from taxes. This will ensure a massive influx of miners into the country, where 45% of generation is generated by renewable energy sources.
The MP drew attention to the fact that Brazil will cope with this influx and will not repeat the mistakes of other states that have experienced problems in the energy sector after the deployment of large mines.
The bill will not only exempt mining from taxes, but also introduce zero customs duties on ASIC miners, in exchange for mandatory registration of equipment. This will help regulate electricity limits in areas where miners are located.
Brazil is divided into sectors in each of which electricity consumption is monitored and regulated. This will help avoid unexpected loads and reallocate production in advance. Additionally, a market for surplus energy consumption could be created, repeating the experience of the “monsoon season” in China.
Brazil ranks third in the world after the United States and Canada in terms of the amount of energy produced, and is also included in the top 10 countries in terms of alternative energy. We are talking about wind generation and biofuel, while the direction of solar batteries is practically not developed.
#Brazilian #Parliament #Tax #Bill #Green #Miners
