Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
U.S. Proposes Tax Free Zone for Bitcoin to Boost Digital Economy

U.S. Proposes Tax Free Zone for Bitcoin to Boost Digital Economy

Bitget2024/08/08 12:00
BTC+0.24%

The USABTC policy panel has proposed the creation of a groundbreaking tax-free digital economic zone (DEZ) for Bitcoin in order to boost the U.S. economy while ensuring the global dominance of the U.S. dollar, Cointelegraph reports. The proposal advocates that Bitcoin can be traded and accumulated in a tax-free economic zone without paying capital gains tax, but subject to redemption tax.
The USABTC argues that the move would create a 'resilient and innovative' economic environment for the U.S., attracting investors and driving wealth growth. The plan also envisions a system anchored to Bitcoin on a Layer 2 solution to ensure efficient and secure transactions.USABTC, working closely with regulators, plans to launch the implementation phase in 2025, with the DEZ expected to be fully operational by 2026, subject to the successful passage of all legislative and regulatory approvals.The plan also envisions a system anchored to Bitcoin on a Layer 2 solution, ensuring that transactions are efficient and secure.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Aave V4 to support new collateral asset classes, including stocks, ETFs, and real estate
2
The probability of the Federal Reserve cutting interest rates by 25 basis points in October has risen to 99%.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$106,716.79
+0.25%
Ethereum
Ethereum
ETH
$3,865.1
+2.02%
Tether USDt
Tether USDt
USDT
$1
+0.01%
BNB
BNB
BNB
$1,088.36
+1.71%
XRP
XRP
XRP
$2.34
+2.30%
Solana
Solana
SOL
$183.98
+0.83%
USDC
USDC
USDC
$0.9999
-0.01%
TRON
TRON
TRX
$0.3137
+1.48%
Dogecoin
Dogecoin
DOGE
$0.1868
+1.53%
Cardano
Cardano
ADA
$0.6291
+0.59%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter