The signing of Donald Trump's new tax bill has led to mixed reactions among cryptocurrency market participants. The law includes substantial tax cuts and increased government spending, but does not offer direct assistance for cryptocurrencies.
Impact of the New Tax Bill on the Economy
The passage of the tax bill is significant due to its dual effects on economic growth and market dynamics. This may increase interest in risk assets, although it does not offer relief for cryptocurrencies.
Lack of Tax Relief for Cryptocurrencies
The bill, known as 'One Big Beautiful Bill', emphasizes infrastructure spending alongside tax cuts. Despite Eric Trump's advocacy for a '0% crypto tax' bill, the new law does not provide direct assistance to cryptocurrency investors. The absence of capital gains exemptions negatively impacts holders.
Future Prospects for the Crypto Market
Markets anticipate increased liquidity from enhanced disposable income, potentially translating into higher crypto investments. Economic analysts predict a boost in interest for risk assets, including Bitcoin and Ethereum. However, the lack of crypto-specific tax innovation continues to be a hurdle.
While Trump's new tax law does not provide direct relief for digital assets, its influence may drive increased market activity. The industry awaits further regulatory clarity from the SEC and CFTC.
