The content discusses the potential consequences of eliminating capital gains taxes on U.S.-based cryptocurrencies. While it may initially attract American investors and potentially lead to the creation of new cryptocurrencies, there are concerns about market turbulence, increased sell pressure on global projects, and the potential for scams to proliferate. Additionally, global crypto startups may struggle to secure funding as U.S. venture firms focus on local projects. The article warns that the U.S. approach could skew the market, hinder competition, and damage crypto's credibility in the long term.



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