The United States is preparing to introduce a significant tax relief policy aimed at boosting crypto innovation and attracting investment. Eric Trump, son of President Donald Trump
But will this policy benefit only US-based projects, or will non-US ventures also see relief?
Reports indicate that US-based crypto projects, including popular ones like XRP and HBAR, will benefit from the zero capital gains tax policy. This announcement has stirred excitement in the crypto industry, with many believing that the policy could make US-based projects even more appealing to investors and developers.
However, the policy is unlikely to offer any relief to non-US crypto projects. Eric Trump stated that these projects would be subject to a 30% capital gains tax. This creates a clear tax divide between US-based and non-US ventures, raising concerns about the potential impact on global crypto competition.
Experts believe the sharp difference in tax rates is designed to give US projects a competitive edge while encouraging crypto companies to establish operations within the United States. The total market cap of US-linked cryptocurrencies now stands at $550 billion, with a 24-hour trading volume of $37.47 billion.
The “Made in USA” category includes cryptocurrencies with strong ties to the United States. The top ten cryptos in this category by market cap are XRP, Solana, USDC, Cardano, Chainlink, Avalanche, Stellar, Hedera, Sui, and Polkadot.
Over the past 30 days, most of the top ten cryptos in this category have shown strong growth. XRP has risen by 42%, Solana by 31.7%, and Cardano by 12.3%. Chainlink, Stellar, and Hedera have also experienced positive movements. However, not all US-based cryptos have performed equally well—Avalanche, Sui, and Polkadot saw declines during this period.
In conclusion, the Trump administration’s proposed crypto tax relief policy could be a game-changer for the industry. If implemented, it could create a favorable environment for US-based crypto projects, while potentially challenging non-US players.
The coming months will determine whether this tax relief can turn the US into the ultimate destination for crypto innovation.
The Pi Network is once again making headlines — but not for the reasons its…
XRP is currently trading at $2.20, down 2.3% in the last 24 hours and about…
It’s now been 20 days since Judge Analisa Torres denied both Ripple and the SEC’s…
The price of XRP has been stuck in a tricky situation lately. While the long-term…
The wider altcoin market, led by Dogecoin (DOGE), recorded a mild retrace in the last…
Coinbase Global Inc. (NASDAQ: COIN) announced plans to list PancakeSwap ($CAKE) in the near future.…