Recently, a White House spokesperson announced that President Donald Trump supports new legislative initiatives aimed at encouraging the use of cryptocurrencies in everyday life.
Presidential Support and New Measures
The spokesperson stated that the administration's goal is to simplify cryptocurrency payments. 'We want to make transactions as simple as buying coffee with cryptocurrency,' he added.
The 'GENIUS Act' and Its Provisions
Particular attention is paid to cryptocurrency taxation. The administration supports a tax exemption of up to $600 for cryptocurrency transactions, which, according to the spokesperson, aims to make crypto payments more efficient. The 'GENIUS Act' will include the relevant regulations.
Progress in Trade Negotiations and Expectations
The spokesperson also noted that trade negotiations with the European Union are progressing in a 'promising' manner, while cautious optimism was expressed regarding the agreement with Canada. He reminded that if Russia fails to reach an agreement within 50 days, it will face high customs duties and secondary sanctions on buyers of Russian oil.
Thus, President Trump's endorsement of new initiatives regarding cryptocurrencies indicates significant attention to digital payments and tax regulation, which may impact the development of the crypto industry in the US.
