What everyone on my TL seems to miss is the fact that Trumpโs initial tax plan rolled out in his first term REMOVED 1031 Exchange treatment of crypto asset tradingโฆ
Correct me if Iโm wrong, but I remember feeling attacked by that tax plan.
BREAKING: ๐บ๐ธ Trump Proposes ZERO Tax On American Crypto Assets!
During a recent interview Trump stated โ
"They have them paying tax on crypto and I don't think that's right. Bitcoin is money and you have to pay capital gains tax if you use it to buy a coffee? I was talking with a friend he said 'it really shouldn't be taxed' and I agree. Maybe we get rid of taxes on crypto and replace it with tariffs.โ
He continues stating โ โNo tax on crypto but only on tokens made in the USA. We want tokens made here at home, we don't want the Chinese tokens. We say get those Chinese tokens out of here."
This would mean $BTC & $XRP (American Crypto Assets) would be subject to ZERO tax!
While tokens created overseas, such as Ethereum, would be taxed out of the American economy.
Do you agree there should be ZERO tax on Crypto, because it is a currency?
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