It’s infuriating watching the government play favorites, deciding who wins and who loses. Why is crypto being handed special treatment? Why do I get slammed with capital gains taxes on every other investment while some crypto projects waltz away tax-free?
Eric Trump Confirms U.S.-Based Crypto Projects Will Benefit From Zero Capital Gains Tax
This week, there’s been some big news for U.S. based crypto projects. Eric Trump confirmed that U.S.-based projects like XRP and HBAR will eventually benefit from zero capital gains tax, while non-U.S.-based projects face a 30% tax. Additionally, Sen. Ted Cruz plans to use the Congressional Review Act to challenge a controversial IRS rule requiring DeFi brokers to report user data. Critics, including Cruz, argue the rule stifles innovation and infringes on privacy. With growing support, Cruz’s efforts could lead to changes in crypto tax regulations in favor of innovation and decentralization.
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