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Eric Trump Confirms Zero Capital Gains Tax for US Crypto Projects; Ted Cruz Challenges IRS Rule

PANewsJan 26, 2025

Eric Trump recently confirmed that US-based cryptocurrency projects like $XRP and $HBAR will benefit from a zero capital gains tax, while non-US projects will be subjected to a 30% tax rate. Concurrently, Senator Ted Cruz intends to challenge an IRS rule mandating DeFi brokers to report user data and transaction income, arguing it stifles innovation, infringes on privacy, and burdens decentralized platforms with compliance issues.

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Eric Trump Confirms Zero Capital Gains Tax for US Crypto Projects; Ted Cruz Challenges IRS Rule

PANewsJan 26, 2025

Eric Trump recently confirmed that US-based cryptocurrency projects like XRP and HBAR will benefit from a zero capital gains tax, while non-US projects will be subjected to a 30% tax rate. Concurrently, Senator Ted Cruz intends to challenge an IRS rule mandating DeFi brokers to report user data and transaction income, arguing it stifles innovation, infringes on privacy, and burdens decentralized platforms with compliance issues.

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