Official press releases or credible news reports from major crypto businesses

Trump Proposes 0% Capital Gains Tax on Bitcoin, XRP, Cardano to Boost U.S. Crypto Innovation

Nov 14, 2024, 10:05 PM

President Donald Trump is reportedly considering a proposal to eliminate the capital gains tax on cryptocurrencies in the United States. This potential move aims to position the U.S. as a leading hub for cryptocurrency innovation and attract crypto businesses to remain in the country. The proposed 0% capital gains tax would apply to U.S.-issued cryptocurrencies, including major digital assets such as Bitcoin (BTC), XRP, and Cardano (ADA). If enacted, this policy could significantly impact the cryptocurrency market, encouraging investment and growth in the sector. The discussions around this proposal have generated considerable interest and speculation within the crypto community, with many viewing it as a bullish development for the market.