Former President Donald Trump has sparked fresh debate with his proposal to eliminate capital gains taxes on American-made cryptocurrencies.
Former President Donald Trump has proposed eliminating capital gains taxes on American-made cryptocurrencies, sparking fresh debate on the role of digital assets in the U.S. economy.
Trump argues that taxing Americans on small, everyday purchases made with cryptocurrencies, such as a cup of coffee, is unfair and discourages the widespread use of cryptocurrencies like Bitcoin.
To address this issue, Trump proposes eliminating capital gains taxes on American-made cryptocurrencies, such as Bitcoin and XRP, while simultaneously imposing tariffs on foreign crypto assets. This measure aims to encourage the use of domestic cryptocurrencies and boost innovation within the U.S. cryptocurrency sector.
According to Trump, this strategy would prioritize American-made crypto assets, attracting more Americans to invest in and use them. The tax incentives would also aim to stimulate growth and innovation within the U.S. cryptocurrency sector.
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