In an attempt to give priority to crypto innovation and investments, the United States is preparing for a crucial tax reduction policy. Reports suggest that Eric Trump, a son of US President Donald Trump, has shining through to the possibility of introducing a zero power profit policy by the newly induced Trump administration for cryptocurrency projects. Will the US-based projects and non-us-based projects also benefit from the expected tax concession?
US-Founded Crypto projects to enjoy zero power gain tax
According to reports, Eric claimed that crypto projects, including XRP and HBAR, would benefit from the tax policy of the Nulkrapital profit.
Eric’s confirmation has caused the excitement in the entire cryptocurrency industry. Many crypto enthusiasts believe that the decision would make the American crypto projects more attractive.
Do non-us-based projects receive tax reduction?
The policy is less likely to benefit from non-American crypto projects. According to reports, Eric emphasized that non-American crypto projects would attract a 30%power gain tax.
Experts are of the opinion that this sharp contrast in taxation aims to level the playing field in favor of crypto projects and companies established in the US to establish activities in the country.
US-based crypto projects: an overview
The total market capitalization of the Made category in USA is now $ 550 billion and the trade volume of 24 hours remains $ 37,474,510,450.
The category, as the name suggests, refers to cryptos with strong connections with the US.
XRP, Solana, USDC, Cardano, Chainlink, Avalanche, Stellar, Hedera, Sui and Polkadot are the top ten cryptocurrencies per market capitalization in the category.
In the last 30 days almost all the top ten cryptos in this category have shown Bullish Trends. XRP has risen by 42%, Solana by 31.7%, Cardano by 12.3%, chain link with 8.7%, the aid with 18.5%and Hedera by 15.1%. In the same period, however, Avalanche went with 7.4%, SUI with 2.8%and Polkadot with 9.9%.
In conclusion, the Crypto tax policy of the Trump administration can revolutionize the industry, creating a favorable environment in the US and at the same time challenging non-American players. If implemented, this daring move can attract global crypto -innovation to the US, making it a hub for blockchain preface. These contrasting tax rates underline the dedication of the government to promote domestic growth and innovation in the crypto sector.
Credit : coinpedia.org
