An America First Crypto Tax Plan — Which Cryptos Would Benefit?

Donald Trump's second son appears to have hinted at a proposal that could cause a radical overhaul of the crypto market.

Eric Trump has reportedly hinted at a proposal that could radically overhaul the crypto market. While the reports remain unconfirmed, a zero capital gains tax for US-based crypto assets would align with President Trump’s vision of an America-first crypto market. Last week, he signed an executive order establishing a working group to explore the creation of a national crypto stockpile. The order came on the heels of a New York Post report which suggested that Trump could be mulling an America-first crypto strategic reserve, that would include assets like Solana and XRP, besides Bitcoin. It also gives credence to claims that Ripple secured a major agreement with Trump during CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty’s last dinner with the President. Indeed, XRP is poised to be the best altcoin to buy if an America-first crypto tax regime comes to fruition, potentially overtaking Ethereum to reclaim its position as the second-largest cryptocurrency. As such, the XRP price reached a 7-year high of $3.40 as part of the “Trump trade”, seeing nearly a 7x growth since Donald Trump’s US presidential victory. With the new pro-crypto SEC set to drop its lawsuit against Ripple and approve spot XRP ETF, the XRP rally may not be over just yet. Assets like XLM, HBAR, XCH and AVAX could also be beneficiaries of an America-first crypto tax plan. Meanwhile, crypto assets like Solana and Tezos could face uncertainty. For instance, while Solana Labs is headquartered in San Fransisco, the Solana Foundation is based in Switzerland. Whether US-based exchanges like Coinbase and Bitcoin miners such as Riot Platforms would benefit also remains unclear. While XRP could be one of the best cryptos to buy irrespective of the tax regime, betting on assets like XLM and HBAR could backfire. For starters, Eric Trump isn’t an elected official and his confirmation doesn’t hold any weight in a court of law. More importantly, the President of the United States doesn’t have any authority to change tax laws – that authority rests solely with the US Congress. With slim majorities in both chambers, it is unlikely a zero capital gains tax for crypto would receive enough support. Experts suggest sidelined investors should solely consider technicals and fundamentals while deciding the best altcoins to buy for the 2025 “altseason”.

As previously mentioned, XRP remains an attractive investment for the upcoming bull run. Experts reveal AVAX has also shown bullish strength in recent weeks and could be poised for a significant rally, It is also one of the assets that will benefit from the new crypto tax plan. Meanwhile, smart money investors continue to stack new meme coins in search of outsized returns.

Last week, a whale invested over $460k in Wall Street Pepe (WEPE), a new meme coin that is still in its presale stage. Behind heavy whale interest, the WEPE presale has raised over $60 million and continues to add over a million daily. Meanwhile, retail investors are eyeing it as an excellent tool for reaping the maximum returns in the coming months, owing to its exclusive “alpha calls” group. All token holders will receive trading setups, market insights and tips on the best altcoins to buy from seasoned traders. It is not without any reason that prominent experts are calling Wall Street Pepe the next 100x crypto. Similarly, the Solana Layer-2 token Solaxy (SOLX) is also in high demand and has raised over $15 million in its presale. Despite being a meme coin, the project aims to tackle network congestion and scalability issues on Solana during heavy traffic periods. Similar to WEPE, early buyers are eyeing up to 100x returns from SOLX, particularly due to its low market capitalization.