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    Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

    • 2 minutes read

    Florida to Eliminate Capital Gains Tax on Bitcoin, XRP, and Stocks

    Story Highlights
    • Floridaโ€™s new bill proposes eliminating state capital gains tax on crypto and stocks, boosting Bitcoin and XRP prices.

    • The move may spark nationwide crypto tax reforms, aligning with Trumpโ€™s pro-crypto agenda and reshaping U.S. crypto policy.

    Florida has introduced a groundbreaking bill that could change how Bitcoin, XRP, and stocks are taxedโ€”at least at the state level.

    If passed, this legislation would exempt state capital gains tax on crypto and traditional stock profits, setting a powerful precedent in the U.S. and potentially driving crypto adoption nationwide.

    Whatโ€™s in Floridaโ€™s New Crypto Tax Proposal

    • The bill, championed by Floridaโ€™s Republican leadership under Governor Ron DeSantis, aims to eliminate capital gains tax on Bitcoin, XRP, and stocks at the state level.
    • This would allow investors to retain more of their profits, giving Florida a major competitive edge in the crypto space.
    • However, federal capital gains tax still appliesโ€”only Congress can change that.

    Bitcoin and XRP React Positively

    In the past 24 hours:

    • Bitcoin price surged 2.4%, now trading around $109,835
    • XRP rose by 2.2% and currently stands at $2.34

    Short-term trends show:

    Asset30-Day Growth3-Month Growth
    BTC+16.55%+19.6%
    XRP+5.42%+2.71%

    Some analysts believe this proposal could help push Bitcoin to $135,000 in the next 3 months.

    Aligns With Trumpโ€™s National Crypto Vision

    • This Florida initiative appears to align with President Donald Trumpโ€™s broader push for crypto-friendly regulation.
    • Trump, now leading the U.S. administration, has signaled strong support for digital assets and blockchain innovation.
    • With 27 U.S. states governed by Republicans, more pro-crypto tax bills could follow.

    Public Opinion: A Divided Response

    Supporters say:

    • It could make Florida the crypto capital of the U.S.
    • Attract big businesses and high-net-worth investors

    Critics warn:

    • It might complicate tax filings
    • Could clash with federal tax regulations, causing confusion

    Why This Matters for the Entire Crypto Market

    If Florida passes this bill, it could spark a wave of similar legislation in other Republican-led states. That momentum may:

    Final Take

    This isnโ€™t just a Florida storyโ€”itโ€™s a potential turning point for U.S. crypto policy. Whether you’re a crypto investor, trader, or builder, keep an eye on this billโ€”it might shape the next phase of crypto growth in America.

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    FAQs

    Will I still pay federal taxes if Florida removes state capital gains tax?

    Yes, federal capital gains taxes still apply; only Congress can change federal tax law.

    How will Floridaโ€™s crypto tax bill impact Bitcoin price?

    Analysts say it could boost prices by attracting more investors; Bitcoin may reach $135K in 3 months.

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