Senate Finance Committee Chairman Questions Crypto Miners’ Use of Opportunity Zone Tax Breaks

Senate finance committee chairman questions crypto miners’ use of Opportunity Zone tax breaks. The Republican-led 2017 tax overhaul offers capital-gains tax breaks to investors who develop real estate or fund businesses in the thousands of census tracts that have been designated as Opportunity Zones incentives that are meant to spur investment in economically distressed areas. Wyden, a Democrat from Oregon, sent letters to Redivider Blockchain Opportunity Zone Fund LLC, Argo Blockchain, and HCVT LLP Monday, asking the companies to respond to a series of questions on the crypto-mining projects in Opportunity Zones that either they or their clients are currently invested in.