The U.S. Treasury Department has proposed an excise tax of 30% on the cost of powering crypto mining facilities. The tax is set to be imposed on companies such as Litecoin (LTC), Avalanche (AVAX), and TMS Network (TMSN) that use computing resources to mine cryptocurrencies in an attempt to lower the overall number of mining machines in the U.S.
Of course, we need to take a closer look at how this will affect Litecoin (LTC), Avalanche (AVAX), and TMS Network (TMSN) token holders, given the fact that all three companies have shown significant potential with TMS Network (TMSN) already being sold out in its first week of the presale, having raised $2 million in its private seed sale.
So you’ve heard about the impressive seed sale and probably seen all the hype, but what exactly is TMNS Network (TMSN)?
TMS Network (TMSN) is an all-in-one, decentralized trading platform built on Ethereum that hopes to change traditional trading. TMS Network (TMSN) eliminates the need for centralized middlemen by using the power of decentralized technology. This lets traders take matters into their own hands by having more control of their assets and trade on their terms.
TMS Network (TMSN) deals with the most pressing problems in the current trading environment, such as high trading costs, price inconsistency, transaction delays, price manipulation, and lousy trading experience.
They provide traders with educational resources and tools – including training videos, webinars, and guides – to help them develop their knowledge and skills, make informed decisions, and confidently execute trades.
TMS Network (TMSN) also gives traders access to a wide variety of asset classes – including (but not limited to) cryptocurrency, equities, F.X., and CFDs – while using state-of-the-art security measures to ensure the safety and security of traders’ assets and transactions.
Investor confidence is evident with the seed purchase, and the market is following suit.
Avalanche (AVAX)
Avalanche (AVAX) is a next-generation blockchain platform that allows users to create, run, and manage decentralized finance applications. The Avalanche (AVAX) platform offers scalability and fast transaction speeds.
Avalanche (AVAX) tokens allow holders to earn rewards by providing staking, liquidity, or running a validator node. Avalanche (AVAX) also uses a decentralized autonomous organization to make decisions about the network and is currently priced at $15.72 per AVAX.
The platform comprises three interoperable blockchains that provide distinct functions and purposes. Avalanche (AVAX) responds well to trend changes and has shown both potential and the necessary support to help it navigate tougher times.
Litecoin (LTC)
Litecoin (LTC) is a peer-to-peer cryptocurrency, a decentralized open-source software project released under the MIT/X11 license. Taking its inspiration from Bitcoin, Litecoin (LTC) was among the first altcoins, starting in October 2011.
In technical terms, the Litecoin (LTC) main chain shares a slightly modified Bitcoin codebase. The beneficial effects of these codebase differences include faster mining difficulty retargeting, lower transaction fees, and faster transaction confirmations, and in 2022 Litecoin added privacy features via a soft fork through the MWEB update.
Litecoin (LTC) has shown great potential and is a promising investment, having had the most transactions on the world’s largest cryptocurrency payment processor this month. It is currently priced at $68.08.
Conclusion
Although the government-imposed tax is set to affect all significant crypto companies, TMS Network (TMSN) looks to have the most promising future, more than robust enough to ride out any storm as tackles the biggest issues in the crptyo with its potentially game-changing features.
Find out more about the TMS Network (TMSN) presale below:
Presale: https://presale.tmsnetwork.io
Whitepaper: https://tmsnetwork.io/whitepaper.pdf
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetworkio
Discord: https://discord.gg/njA95e7au6
Twitter: https://twitter.com/tmsnetworkio
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Source: https://nulltx.com/us-treasury-taxing-crypto-what-does-this-mean-for-tms-network-tmsn-litecoin-ltc-and-avalanche-avax-token-holders/