These anti-crypto takes by Biden are stupid. He should know that crypto is a very much booming industry and that it's going to benefit other countries massively if America kicks them all out.
This is the reason why Biden wanted to implement taxes to the industry, for the US government to gain huge income from the industry. Whether it is bullshit or not is subjective. For the eyes of the non-crypto people, it should be but for the miners, it is somehow suppressive.
Most large american miners are running as corporations now, so this is essentially a double tax. Capital gains + the usual business income tax.
And I don't know how the feds think they are going to extract a lot of money from the smaller hobbyist miners and the small farms, especially after the halving made them way less profitable. It's probably no bigger than $10-$100 million/year in the US that these small miners are making.