Trump is speaking again. Recently, he proposed that he wants to eliminate the capital gains tax on cryptocurrencies like Bitcoin and XRP made in the U.S.
What does this mean?
For example, if we buy a coffee with Bitcoin and its value increases, we would have to pay taxes on that profit. How unfair! Trump said, if this continues, who would dare to use cryptocurrencies to buy things? This is clearly suppressing the use of cryptocurrencies in everyday life!
He stated that digital currencies should be tax-free so that everyone can use them with confidence.
Moreover, Trump has an even bolder proposal, which is to impose tariffs on foreign crypto assets, but not on American cryptocurrencies.
This way, everyone would definitely prefer to use American cryptocurrencies, as it can save a lot of money!
He said that the benefits of doing this are numerous; it can encourage more investment and use of American cryptocurrencies, and it can also promote innovation and development in the American cryptocurrency industry. (Double standards)
With reduced taxes, people would be more willing to try new things, which would provide a good opportunity for the development of American cryptocurrencies!
For instance, if American-made cryptocurrencies like Bitcoin and XRP are tax-free, they would surely be more attractive compared to foreign assets that are still taxed!
This way, maybe the U.S. can become a leader in the development and use of cryptocurrencies!
So, although Trump's proposal sounds a bit bold, upon careful consideration, it actually makes some sense.
In the cryptocurrency world, high returns come with high risks; a cautious and rational attitude will help you better seize opportunities and avoid pitfalls. Learning from the experiences of predecessors and avoiding common pitfalls is the first step to success. $ETH $SOL $BNB
