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All this does is move HQ. There is a reason most US cargo ships sail under a foreign flag like liberia
by ipaddr 3y ago
All this does is move HQ. There is a reason most US cargo ships sail under a foreign flag like liberia
- jonny_eh 3y agoShips are on water, their flag doesn't matter much. But charging a tax on activities occurring within the border has the effect of discouraging that activity. You can't slap a different flag on a server and escape the tax.
- ipaddr 3y agoThe flag matters to pollution controls, liability and taxes not to mention employee rights/wages. You are talking about billions of lost money. You can become a European company operating in the US. You can have a shell company operate the mining. You can show no profit.
- tialaramex 3y agoThe Paris MOU was such a success that many parts of the world have Port State Control (rather than Flag State) too now. If your ship flying Country X's flag docks in Europe then under the Paris MOU your flag decides how likely you are to get inspected by local authorities. Does Country X do a great job? Then inspections will be rare and you've nothing to worry about. Not so much? Expect to spend far more of your visits being inspected and if you don't obey inspection rules under the Port State rules too bad, their port, their laws apply, if you don't like it stop coming to Europe. If Country X don't like it, and I promise they don't give a shit once you paid the registration fee, they can take it up with Europe and see how far that gets them.
- paxys 3y agoSounds like a win-win. Bitcoin mining farms are contributing nothing to the region where they operate. People will be happy if they packed up and left and drained someone else's energy supply.