Trump Proposes Tax Exemption for Cryptocurrencies, Boosting Innovation in the US
- Tax break boosts crypto in the US.
- External projects face a 30% tax rate.
- Tax differential may alter global competitiveness.
The new tax policy that is being considered in the United States could bring a full exemption from capital gains taxes for cryptocurrency projects operating within the country, as indicated by Eric Trump, son of President Donald Trump. This proposal aims to position the country as a global hub for cryptocurrency innovation, thus attracting more investment and technological development.
The intention is that this tax advantage will only benefit American projects. According to the information released, cryptocurrencies known as XRP and HBAR would be among those benefiting, which has increased enthusiasm in the sector. The measure is seen as an effort to make the United States an even more desirable location for the founding and growth of new cryptocurrency companies.
However, the planned policy states that cryptocurrencies from projects outside the United States will not be eligible for this tax break, with the capital gains tax rate remaining at 30%. This tax disparity could intensify discussions about how such a policy could affect competition in the global cryptocurrency market.
While this tax approach could give US projects a significant advantage, it also encourages the migration of cryptocurrency operations to the US. The cryptocurrency market in the United States already represents a total market value of around US$550 billion, with a daily trading volume reaching US$37,47 billion.
The tax proposal, if implemented, could create a highly favorable scenario for cryptocurrency projects in the US, influencing the global dynamics of the sector.
