It is unlikely to witness US encrypted currency projects, tax benefit on zero capital: Experts
The cryptocurrency community was surprised by the reports that a tax on capital profits was not imposed on encrypted currency projects in the United States. This step comes amid Donald Trump’s decision to make encrypted currencies a national priority regarding the policy and regulations of encrypted currencies, starting with the signing of an executive order to develop the stock of national digital assets. However, experts claim that cryptocurrencies and cryptocurrencies that have been developed in the United States may not have zero tax benefits.
Why not be a zero capital profit tax on encrypted currencies
Dennis Porter, CEO and co -founder of the Satoshi Action Fund, in X Share On January 26, he said that the removal of capital gains from cryptocurrencies is totally dependent on the US Congress. He confirms that the US Congress is unlikely to include such a proposal in the near -term tax bill.
He added that the main obstacle is the great loss in government tax revenues, which makes the approval of the proposal seem difficult now. The main agenda of the Trump administration is tax cuts, and any policy threatening these cuts will be marginalized.
The zero income tax on encrypted currencies is great practical, legal and economic challenges. The Trump administration will review the expected reduction in taxes on encrypted currencies in the United States, but not the other way around, which may harm stocks, bonds and other financial tools.
Eric Peterson, director of policy at the Satoshi Action Fund, said:
Capital profit taxes on cryptocurrencies will not reach 0% of people. Congress is the one who makes tax policy, not the president. Work to achieve goals that can be achieved, such as minimal exemption.
John Diton recently discussed the ambiguity surrounding encrypted currency projects in the United States. He wondered whether projects that have operations or institutions abroad, such as Solana and Tizus, would fulfill the requirements of tax exemptions.
The cryptocurrency industry must press in order to take targeted steps forward
Dennis Porter believes that the encrypted currency industry can take targeted steps to reduce tax obligations. It is suggested obtaining a minimum USD’s exemption for bitcoin and other digital asset transactions.
“This proposal is in line with the current exemption of $ 200 for foreign exchange transactions.” It is a reasonable goal and can be achieved much more, with a little impact on Trump’s ability to renew his tax cuts. “
Americans who live on bitcoin and digital assets should not have to report every small treatment, such as buying coffee, meals or groceries, for tax purposes. This is a very stressful task, and it is time to follow this simplification of the tax law.
Porter reveals that the US Congress has the support of the Republican and Democratic parties of this idea and can become a reality with the minimum. To be successful, it must be linked to inflation and partisan support that balances creativity and justice.
The cryptocurrency market is optimistic about the proposal of the script currency profit tax
Participants in the cryptocurrency market are optimistic about the cryptocurrencies in the United States, and taxes on these cryptocurrencies are likely to be non -existent, as the Trump administration provides policies and regulations in support of encrypted currencies.
Eric Trump confirmed his support for the cancellation of capital profit tax on encrypted currency projects in the United States. The cryptocurrencies “made in the United States of America” such as XRP, Solana (Sol), HEDERA (HBAR) and other tax cuts will benefit. According to Queen JikoThe market value of encrypted currencies in the United States is more than $ 560 billion.
Meanwhile, Eric Trump hinted at a 30 % tax on capital profit on non -American encrypted currency projects. According to experts, this sharp division is designed to attract global cryptocurrency investments to the United States.
Farinder Singh
Varinder has more than 10 years of experience and is known as an experienced leader for his participation in the financial technology sector. With more than 5 years dedicated to the development of Blockchain, cryptocurrency, and Web3, two events to reduce Bitcoin have seen half, which made him a major leader of opinion in this field. In Coingape Media, Varinder leads editorial decisions, leads the news team to cover the latest updates, market trends and developments in the encrypted currency industry. The company was recognized as the best Crypto Media company for 2024 for its high -impact and high quality reports. Since he holds a master’s degree in technology, an analytical thinker, and an enthusiastic technology, Varinder shared his knowledge of revolutionary techniques in more than 5000+ news, articles and research papers.
Responsibility: The content of the author may include the author’s personal opinion and subject to the state of the market. Do market research before investing in encrypted currencies. The author or post does not bear any responsibility for your personal financial loss.
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