The crypto world is on high alert as Donald Trump is set to host the first White House Crypto Summit on March 7, 2025. One of the biggest questions is whether his administration will introduce a 0% capital gains tax on crypto, sparking lively debates within the market.
Will Trump Eliminate Capital Gains Tax on Crypto?
The idea of a 0% crypto tax gained momentum when Eric Trump said he wanted to eliminate capital gains taxes on digital assets. Supporters argue that it would boost innovation, attract investment, and make the US a global crypto hub. However, experts point out the complexities of this idea's realization. Adam Cochran from Cinneamhain Ventures noted, 'Congress has sole authority over tax law, so no way can the President do it without congressional approval.'
White House Crypto Summit: What to Expect
March 7th is seen as a big moment for crypto regulation in the US. According to Fox Business journalist Eleanor Terrett, this is the first in a series of policy meetings to replace the previously proposed crypto-advisory council. Market analysts think the topics will include regulatory clarity for digital assets and tax incentives for US-based projects. Rumors suggest Trump might announce a 0% capital gains tax at the summit, but this has not been confirmed.
Crypto Markets React as Trump’s Policies Take Shape
Beyond taxation, Trump has shown support for the crypto space with the creation of crypto reserves involving XRP, Solana, and Cardano, with Bitcoin and Ethereum to follow. This triggered initial market optimism, but soon declined. The market capitalization dropped more than $500 billion in a day. Bitcoin initially rose only to drop 10%, while Ethereum decreased by 15%.
All eyes are on March 7, when Trump's official stance on crypto taxation and regulation will be revealed. These decisions could shape the future of the industry in the US and beyond.
