The Tech Transparency Project, or TTP, a research initiative of the United States-based nonprofit watchdog group Campaign for Accountability, has released a report claiming crypto firms “provided little in return” for state governments offering financial incentives.
In a report released Thursday, the TTP said that many crypto firms based in certain U.S. states have “reaped special benefits” for setting up operations while not always delivering jobs, economic growth or tax benefits for residents. According to the group, crypto lobbyists worked on behalf of firms to gain tax breaks and discounted energy prices while state governments have “faced budget shortfalls, surging energy consumption and serious environmental damage.”
A new TTP report outlines favorable laws and tax breaks given by various state governments—stretching from Nevada and Wyoming to Kentucky—to speculative crypto projects that did not produce the promised job creation and social benefit for taxpayers....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...