Claims from Influencers: Eric Trump's Proposed US Crypto Tax Holiday

A prominent figure in the cryptocurrency industry named Shawn said during a crypto conference in Abu Dhabi that the son of the president-elect, Donald Trump, is intending to exclude several American cryptocurrencies from taxes. These cryptocurrencies include $ALGO , $ADA , $XRP , and $HBAR .

Shawn, an influential figure in the cryptocurrency industry, claims that Eric Trump's proposal will entice investors by eliminating taxes on the aforementioned American coins. In contrast, a steep 37% tax will be imposed on cryptocurrencies that are not issued in the United States. This would put the United States in a stronger position to lead the crypto world if this were to happen, as it would boost American technology.

There may be an uptick in investment and innovation in the US cryptocurrency market if Eric Trump's proposal is formalized and put into action shortly. In addition to bolstering the American economy, this decision will further Trump's goal of making the United States the global leader in cryptocurrency.

On the other hand, international developers and investors could be scared off by steep taxes on non-American cryptocurrencies, which might slow down industry progress. The plan has been made public, but it has not been formally approved just yet.

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