Cryptocurrency investors are excited after Eric Trump confirmed a strong plan for no capital gains tax on crypto assets in the US. The idea matches the Trump administration’s focus on prioritizing America, but its practical use and effects on the market have led to discussions. Could this plan change the crypto world, or is it unrealistic?
Seismic Change for US Cryptos
If passed, the zero capital gains tax could bring significant changes, benefiting US cryptocurrencies like XRP, HBAR, and AVAX. This plan could make the United States a center for crypto innovation, encouraging investment in local projects and reducing competition from other countries.
Major Setback for Non-US Cryptos
The plan includes a 30% tax on cryptocurrencies not based in the US. This could have a more significant effect on cryptocurrencies like Solana and Tezos. The Solana Foundation is located in Switzerland, and its future is unclear. Investors should be careful as the plan develops.
Explosion of XRP
XRP could be the biggest winner in a crypto tax system that supports America. XRP has risen significantly, reaching a 7-year high of $3.40, partly due to Ripple’s deals with Donald Trump. A good tax policy and resolving Ripple’s legal issues could strengthen XRP’s status as a top altcoin.
Future Obstacles
Even though Eric Trump is excited, there are still challenges to overcome. Changes to tax policy need to be approved by Congress, and since Congress is split right now, it’s unlikely that a zero tax on crypto will be approved. Also, Eric Trump is not an elected official, which makes the plan less believable.
Combining Ambition with Reality
The idea of no crypto tax is exciting, but investors should make choices based on solid information. Experts suggest paying attention to solid altcoins like XRP and AVAX for the next market cycle and being careful with risky investments in new assets like XLM and HBAR.
Conclusion
Eric Trump’s idea, whether a groundbreaking plan or a fantasy, has gotten much attention in the crypto community. Although it’s still unclear if it will happen, the conversation shows increasing interest in making the United States a leader in digital assets. Investors should keep up with changes and be cautious as the crypto market develops.
