The Trump administration is reportedly considering eliminating capital gains taxes on cryptocurrencies issued by US-registered companies. This move could drive capital inflows towards US-based cryptocurrencies and boost the country's position in the digital assets sector. The proposed legislation would apply to assets issued by entities registered within the US and could also offer a relocation pathway for foreign entities to benefit from the exemption. The policy is expected to benefit US-issued cryptocurrencies such as Cardano, Algorand, Ripple, and Hedera Hashgraph. It aligns with industry expectations for crypto legislation and could reshape the market's landscape by driving competition among jurisdictions. Speculations also suggest that several US states may introduce legislation supporting a Strategic Bitcoin Reserve, while other countries are also preparing to implement national Bitcoin Reserve laws. If some of these policies materialize, predictions for Bitcoin's price are optimistic.
- Content Editor ( cryptoslate.com )
- 2024-11-14
No capital tax on US crypto, Bitcoin reserve asset, nation state adoption – the biggest Trump rumors