Crypto Tax Break: Eric Trump Confirms $XRP, $ADA, $ALGO, and $HBAR Will Be Tax-Exempt
At the MENA Bitcoin Conference, Eric Trump announced that US-based cryptocurrencies such as ,$XRP $ADA $ALGO and $HBAR will be exempt from taxes under the Trump administration. The initiative is in line with Trump's vision of making the United States a global crypto hub amid discussions about a national Bitcoin reserve. At the Bitcoin MENA 2024 Conference in Abu Dhabi, Eric Trump, Executive Vice President of the Trump Organization, made a major announcement: US-based cryptocurrencies will be exempt from tax. This policy will affect US-issued cryptocurrencies such as Bitcoin (BTC), Cardano (ADA), Algorand (ALGO), Ripple (XRP), Stellar (XLM), and Hedera Hashgraph (HBAR). This is in contrast to Italy’s recent decision to impose a 42% tax on Bitcoin capital gains.
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