Well, well, well, folks, it seems Eric Trump just dropped a bombshell: zero capital gains tax for U.S.-based crypto projects like XRP and HBAR. That’s right, zero. Nada. Zilch. So, if you’ve been dreaming of cashing in on that sweet crypto profit, now’s the time to start salivating. 🍖💰
But hold your horses, because not so fast for crypto projects outside the good ol’ U.S. of A. They’ll be stuck with a whopping 30% tax. Ouch. Looks like Uncle Sam is trying to make the U.S. the ultimate crypto playground. You know, the kind of place where innovation grows like weeds in a garden—and we all know how fast those can grow! 🌱💸
And Eric, the second son himself, confirmed the whole thing:
🇺🇸 Made in USA crypto projects: 0% capital gains tax
🌏 Offshore crypto projects serving US users: 30% capital gains tax
U.S.-based crypto projects include: XRP, SOL, APT, SUI, DOT, TRUMP (yep, that’s right, I said TRUMP) etc.
– The Street
But don’t think that’s the end of the wild ride, folks. Over in Washington, Senator Ted Cruz is stirring the pot like a grumpy bear on a hot summer day. He’s not too thrilled about a new IRS rule that makes DeFi brokers file detailed tax forms (hello, Form 1099). The catch? These DeFi platforms are decentralized, meaning no central authority to file all that juicy personal info. Ted’s not having it, and he’s ready to throw down the gauntlet. 🐻💥
Apparently, Cruz thinks this rule is a recipe for disaster, killing innovation and privacy like a bad science experiment. And you know what? He’s not just whining about it—he’s planning to use the Congressional Review Act to try and get this rule overturned in 60 days. Now that he’s got the Republican majority, he might just pull it off. Who knows, maybe DeFi gets to stay free and wild, and crypto in the U.S. continues its glorious rise. 🚀🔐
In short, folks, the winds of change are blowing through the crypto world, and it looks like things are about to get real interesting. Hold onto your hats, because if Cruz pulls this off, we might be witnessing the dawn of a new era in U.S. crypto dominance. 🌅💡
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2025-01-26 11:17