In a statement made by the White House, US President Donald Trump, Bitcoin 
$118,219.28 And in payments made with other crypto currencies, it was reported that it supports a new policy to remove the capital income tax. This policy change will contribute to the creation of easier and more accessible conditions for individuals aiming to tract crypto currency in the country.
Crypto Money Tax
In the United States, transactions with crypto currencies are taxed according to the current legal framework. Especially in the earnings obtained from Bitcoin and similar crypto currencies, there is a capital gain tax application. If the new policy is put into force, it is planned not to receive taxes for the gains obtained from such transactions. It is possible to contribute to the more widespread use of crypto currencies and the development of technology.
White House officials said in a statement that the step in question aims to put forward a more positive approach to the crypto currency sector in the United States. The statement said that this policy can offer new opportunities not only for users, but also for financial technology initiatives and companies.
The White House’s explanations
The White House, supported by President Trump, said in a statement that crypto assets have a significant potential for financial innovation and that existing tax applications may sometimes have slowing down developments. It was also emphasized that with the policy change, it is aimed to reduce some obstacles in the sector.
White House officials: “Existing tax applications on crypto beings can have a restrictive effect on digital financial innovations. Reducing these obstacles with new policy can be beneficial for economic growth and financial innovation.”
The Trump administration notes that other countries want to increase the competitiveness of America in this field by taking examples of regulations and incentives of crypto. It is stated that crypto incentive programs, which come into force especially in leading economies, may also be guiding for the US.
Crypto ease for Americans
The use of crypto assets in the US is increasing. In this context, the tax exemption decision can help to perform transactions more easily and without worrying. Thus, the public will be encouraged to use Bitcoin and other crypto assets in various payments.
In terms of daily life integration of crypton, experts point out that flexibility in regulatory approaches can accelerate market development. If the tax regulation becomes clear, it can be seen that new investors will also turn to the digital market.
President Trump’s support on this issue is welcomed by sector representatives and market actors.
Trump’s support for the abolition of the capital income tax on crypto currencies may open the door of a new process in the digital financial system in the US. The possibilities such as ensuring ease of use, encouragement of new investments and opening the way for innovation have come up. Whether the policy change entered into force will be clear in the coming days. In this process, it is recommended that individuals, companies and legislators should be careful and consciously act against possible risks in the digital asset market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
