There is a rumor that Trump has a plan to make capital gains on U.S.-issued cryptocurrencies, currently - XRP, ADA, HBAR and ALGO, tax-free. I guess the idea is to attract crypto companies to the U.S. and get more people using crypto daily.
My questions are these:
Is this actually coming from Trump's team or was this spread by supporters?
If no taxes are collected, how will this actually benefit the U.S. economy?
Is this only for Federal taxes, what about state taxes?
Could we see a flood of institutional investments for these coins, or do you think that this is not attractive enough for them?
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