US to Create Bitcoin Tax-Free Zone to Boost Digital Economy
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The USABTC policy group is proposing the creation of a Bitcoin tax-free zone known as the Digital Economic Zone (DEZ). This initiative aims to boost the US economy and uphold the dollarâs global dominance by allowing Bitcoin trading and accumulation without capital gains taxes, although a tax would apply upon redemption.
The goal of the DEZ is to foster a robust and innovative economic environment by leveraging Bitcoinâs potential, while also supporting the continued central role of the dollar in the global financial system.
Bitcoin has prompted policymakers worldwide to reconsider traditional financial strategies. The USABTC proposal argues that a direct government purchase of Bitcoin would be both impractical and politically challenging.
Instead, it suggests establishing a Digital Economic Zone (DEZ) where Bitcoin transactions are tax-free, with taxes applied only upon redemption to generate revenue.
The initiative believes that offering tax-free capital gains within this zone could attract investors and promote wealth growth in a regulated setting. The proposed exit tax on Bitcoin conversions back to traditional currency could provide a new revenue stream for both federal and state governments.
Additionally, the USABTC plan includes creating a pegged Bitcoin system on a layer-2 solution to ensure efficient and secure transactions within the DEZ.
