Eric Trump announced the intention of Donald Trump’s administration to eliminate capital gains tax for US-based cryptocurrencies.
Tax Change Plans for Cryptocurrencies
Eric Trump announced plans to collaborate with his father to eliminate capital gains taxes for US-based cryptocurrencies. The move is aimed at making the US a global hub for the crypto industry.
Criticism of SEC and Current Regulations
Eric Trump criticized SEC Chair Gary Gensler for his stance towards the crypto industry, stating that the crypto community faced attacks. He also emphasized the importance of 'sane regulation' and the potential of new technologies in the banking sector.
Investments by World Liberty Financial
Despite plans for tax changes, World Liberty Financial, related to Trump’s crypto project, recently invested millions of USDC in Ethereum and Chainlink. According to Etherscan, the company acquired over 2,631 ETH and 41,335 LINK.
Trump administration's plans to eliminate taxes for US-based cryptocurrencies promise significant changes for the industry despite economic contradictions.
