Exciting Tax Breaks for US-Based Cryptocurrencies Spark Market Interest

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Coin-Turk 10 months ago 231

The cryptocurrency sector in the United States faces two significant developments. According to Eric Trump, son of the 47th President Donald Trump, US-based projects like Solana $226 (SOL ($131.05)), XRP ($2.01), Cardano $0.877776 (ADA ($0.43)), and Hedera (HBAR ($0.13)) will soon be exempt from capital gains tax. In contrast, foreign projects may encounter taxes of around 30%. Additionally, Senator Ted Cruz has moved to repeal a controversial IRS rule requiring decentralized finance (DeFi) protocols to share user data, arguing that it stifles innovation and violates privacy.



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