唐纳德·特朗普就职典礼后，有报道称他的儿子埃里克·特朗普（Eric Trump）确认，总部位于美国的加密货币最终将免于资本利得税

一月份，唐纳德·特朗普就职典礼后，报道称他的儿子埃里克·特朗普（Eric Trump）确认，总部位于美国的加密货币最终将免征资本利得税，而非美国的加密货币将面临30％的税。

Earlier this year, in January, reports emerged claiming that Donald Trump's son, Eric Trump, had confirmed that U.S.-based cryptocurrencies would eventually be exempt from capital gains tax, while non-U.S. based cryptocurrencies would face a 30% tax.

今年早些时候，有报道称，唐纳德·特朗普（Donald Trump）的儿子埃里克·特朗普（Eric Trump）确认，总部位于美国的加密货币最终将免征资本利得税，而非美国的加密货币将面临30％的税。

This news came as part of a broader plan to revitalize the U.S. economy, which Trump unveiled in December 2023. The administration aims to simplify the tax code and reduce regulations to boost investment and create jobs within the country.

这一消息是振兴美国经济的更广泛计划的一部分，特朗普于2023年12月推出。政府旨在简化税法并减少法规，以促进投资并在该国内创造就业机会。

The elimination of capital gains taxes on U.S.-based cryptocurrencies might sound like a dream come true for American investors, but it won't come without a price.

消除对美国的加密货币的资本利得税听起来似乎是一个梦想成真，但没有价格就不会。

It remains to be seen whether this will turn into a net negative for the global crypto industry.

对于全球加密行业来说，这是否会变成净负面尚待观察。

However, there are some glaring red flags.

但是，有一些明显的危险信号。

If this new rule actually gets approved and takes effect, be prepared for market turbulence as U.S. investors could dump non-U.S. cryptos, take the tax hit and rotate some of their capital into domestic options. This could increase sell pressure on global projects, particularly those with significant U.S. investor exposure.

如果这项新规则实际上得到批准并生效，请为市场动荡做好准备，因为美国投资者可以抛弃非美国加密货币，接受税收打击并将其一些资本旋转为国内选择。这可能会增加对全球项目的销售压力，尤其是美国投资者大量敞口的项目。

But that would be the least of the concerns — this could have far-reaching, long-term consequences for the entire crypto industry.

但这将是最少的关注点 - 这可能会对整个加密货币行业产生深远的长期影响。

This elimination of taxes on crypto investments could trigger a surge in the creation of new cryptocurrencies from the U.S., similar to the 2017 Initial Coin Offering (ICO) boom — in which nearly 80% of projects had collapsed or turned out to be scams within two years. If the U.S. government removes capital gains tax before implementing clear and solid regulations, we could see a repeat of that chaos, but on a much larger scale.

消除对加密货币投资的税收可能会引发美国从美国创造新的加密货币的激增，类似于2017年最初的硬币发行（ICO）繁荣，其中将近80％的项目崩溃或陷入了两年之内。如果美国政府在执行清晰和扎实的法规之前先撤出资本利得税，我们可以看到这种混乱的重复，但规模更大。

A zero capital gains tax would almost certainly lure in U.S. retail investors who’ve never dabbled in crypto, drawn by the obvious tax advantage. But if bad actors flood the space and take advantage of them, it could drive these newcomers away from crypto entirely.

零资本利得税几乎可以肯定会吸引美国散户投资者，这些投资者从未涉足加密税，这是明显的税收优势所吸引的。但是，如果坏演员淹没了空间并利用它们，它可能会使这些新移民完全远离加密货币。

The U.S. may be home to major crypto projects like Cardano (ADA), Solana (SOL), XRP and Hedera (HBAR), but it’s also been a breeding ground for scam tokens.

美国可能是Cardano（ADA），Solana（Sol），XRP和Hedera（HBAR）等主要加密项目的所在地，但这也是骗局令牌的繁殖地。

Earlier this year, the FBI issued a warning about criminals creating fake crypto tokens that mimicked legitimate ones, preying on unsuspecting investors.

今年早些时候，联邦调查局（FBI）发出了警告，警告犯罪分子创建假的加密代币，以模仿合法的代币，捕食毫无戒心的投资者。

In addition, global crypto startups may have a more challenging time securing funding if U.S. venture firms start favoring local projects to maximize tax-free returns on token allocations. This could drain investment from emerging markets, where crypto is often used for real-world financial inclusion. Such a change would also likely bring back many U.S. firms back home after they left because of the SEC’s enforcement-heavy approach under the Biden administration.

此外，如果美国风险投资公司开始赞成本地项目以最大限度地提高代币分配的免税回报，则全球加密初创公司可能会有更具挑战性的时间来确保资金。这可能会消耗新兴市场的投资，而加密货币通常用于现实世界中的金融包容性。由于SEC在拜登政府下的执法方法，这种变化也可能会使许多美国公司离开后回家。

Even if other countries jumped on the bandwagon with their own zero capital gains tax for local cryptos, it might backfire. The market would likely be flooded with new tokens, trading would become more fragmented, and liquidity would dry up for most of them. While countries like the UAE and Cayman Islands already have zero capital gains tax on crypto, they apply it universally, not just to locally-created crypto tokens.

即使其他国家对当地加密货币的零资本利得税跳上了潮流，也可能适得其反。市场可能会被新的代币淹没，交易将变得更加分散，并且大多数人的流动性会枯竭。尽管阿联酋和开曼群岛等国家已经对加密货币征收零资本利得税，但它们普遍应用，而不仅仅是当地创建的加密代币。

The U.S. taking this approach risks skewing the market, incentivizing artificial token creation and isolating American investors from the global crypto economy. What seems like a tax break now might end up killing competition, pumping money into scams and hurting crypto’s credibility in the long run.

美国采用这种方法有可能偏向市场，激励人造代币创建，并将美国投资者与全球加密经济隔离开来。现在看来的税收减免可能最终可能会杀死竞争，从长远来看，将金钱抽入骗局并伤害了加密货币的信誉。