US Cryptocurrency Community Reacts to Zero Capital Gains Tax News – BitRss

The cryptocurrency community is in shock over the news that zero capital gains tax will be applied to US-based crypto projects. This development emerged following Donald Trump’s decision to prioritize cryptocurrency policies, which included signing regulations aimed at creating a national digital asset stock. However, experts suggest that cryptocurrencies and projects developed in the US may not benefit from this zero tax advantage.

Reasons Zero Capital Gains Tax May Be Unlikely

Dennis Porter, CEO and co-founder of Satoshi Action Fund, stated in a January 26 post that capital gains on cryptocurrencies are entirely dependent on the US Congress. He expressed skepticism about the likelihood of such a proposal appearing in tax legislation in the near future.

Porter noted that the biggest obstacle would be the significant loss of tax revenue for the government, making the approval of the proposal seem difficult at this time. He emphasized that the primary agenda of the Trump administration is tax cuts, and any policy threatening those cuts will likel…