Eric Trump’s tax-free proposal: What It means for global crypto market
Competitive advantage in the global market
Eric Trump’s proposed 0% tax rate would apply not only to emerging crypto startups but also to established US-based companies focusing on blockchain technology, crypto mining, decentralized finance (DeFi), and other related services. By offering such an incentive, the US could attract more crypto enterprises and further cement its position as the leader in digital asset development.
Other nations, such as Switzerland, Singapore, and El Salvador, have already implemented similar tax-friendly policies to draw cryptocurrency businesses, creating an environment where these projects can flourish.
Impact on non-US based projects
US-based projects like Bitcoin, Algorand, Circle (USDC), Coinbase, Gemini, BlockFi, Chainlink, Cardano, Hedera Hashgraph, and Ripple stand to benefit significantly from this tax relief.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»However, concerns are emerging about the impact on non-US-based crypto projects. Reports indicate that foreign crypto companies wishing to operate or invest in the US market could face a steep
Read more on economictimes.indiatimes.com
