Donald Trump’s son suggests “zero crypto tax policy”

Eric Trump is confident that eliminating taxes on crypto capital gains can drive innovation and raise investments. At the same time, this policy can also make the USA the world’s crypto industry leader.

According to the Executive Vice President of the Trump Organization, the new U.S. administration can abolish taxes on cryptocurrency gains for all U.S.-based crypto players, namely Ripple, Hedera Hashgraph, Algorand, and Cardano. For non-US-based projects, the tax can rise to 37%.

Eric Trump suggested a 0% tax rate would apply to new crypto startups and established domestic companies specializing in blockchain technology, crypto mining, DeFi, and related fields.

According to Forbes, critics of the zero crypto tax policy claim that the initiative can create an imbalance in the U.S. digital asset market and cause a significant tax revenue loss. However, journalists believe that the policy will likely remain a suggestion because, formally, Eric Trump is only expressing a personal opinion.

Moreover, President Donald Trump does not have the authority to unilaterally change tax policies. The idea must be supported by Congress to be approved.