CryptoNews

Elon Musk has once again stirred the American political scene — his newly formed American Party is taking a clear stance in favor of Bitcoin. On X, he declared: “Fiat is hopeless.” Support for cryptocurrencies is expected to be one of the key pillars of this alternative political movement.

💣 Clash with Trump Sparked the Decision
The founding of the American Party comes just days after the U.S. Congress passed the controversial One Big Beautiful Bill Act, which is projected to increase the national debt by nearly $4 trillion over the next decade.

Musk, who had previously allied with Trump to create the Department of Government Efficiency (DOGE), strongly opposed the bill and called it a betrayal of principles of accountability and efficiency. This marked the end of their alliance.
Trump responded on Truth Social, calling Musk a "wreck" who is embarrassing himself. Musk fired back with a poll on X, asking his followers if he should form a new party representing the “80% in the middle.” With about 80% voting "yes", he acted — at least unofficially for now.

🧨 Targeting Republican Turncoats
Musk announced he would support challengers to Republican lawmakers who voted in favor of the bill. In his statements, he has sharply criticized the two-party system, calling it a “uniparty” that fails to provide real political choices.

🤝 Independents Reached Out, Elon Stayed Independent
Before Musk's announcement, he was courted by other political outsiders. Andrew Yang said in an interview that he wanted to start a new party with Elon or at least get his support for the Forward Party.

Elon backed Yang's presidential bid in 2020, but no agreement was reached. Steven Nekhaila, chairman of the Libertarian National Committee, also contacted Musk — but he declined all offers and chose to go solo.

⚔️ Musk, Bitcoin and the Mission to Break the System
The American Party’s platform is built on a rejection of fiat currency and support for crypto, especially Bitcoin. However, it's still unclear who will lead the party — Elon was born in South Africa and is constitutionally barred from running for U.S. president.
The party’s internal structure remains vague. It’s unknown whether there will be a central committee, who will lead it, or how it will be financed. For now, it's just Elon, Bitcoin, and a public tired of choosing between two parties they no longer trust.

📉 Challenges and Uncertainties
Despite Musk’s massive personal wealth and influence, entering the national political scene won’t be easy. Gaining ballot access in all 50 states is a daunting legal challenge, and his public support has recently dipped.

His failure to influence the 2025 Wisconsin Supreme Court race and mixed reviews of his DOGE government role cast further doubt on his ability to shape political outcomes.

🧩 One-Minute Summary:
🔹 Elon Musk launches the American Party, pledges support for Bitcoin

🔹 Calls fiat currencies "hopeless" and rejects the two-party system

🔹 Promises to back challengers against Republicans who voted for the new bill

🔹 Turned down collaboration offers from Yang and Libertarians

🔹 Party lacks structure, leadership, and nationwide strategy — for now

#ElonMusk , #USPolitics , #DOGE , #CryptoPolitics , #CryptoNews

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Explosive rumors from Washington are sending ripples through the cryptocurrency market: sources close to Donald Trump's team are reportedly considering a groundbreaking proposal to eliminate capital gains tax on US-issued cryptocurrencies. This unconfirmed but highly impactful idea could fundamentally reshape the American digital asset landscape and potentially solidify the United States' position as a global leader in crypto innovation. 🚀
The supposed aim of this radical tax cut is to supercharge the growth of the domestic blockchain industry. By removing the current capital gains tax (which can go up to 37% on crypto profits), the administration hopes to attract significant investment, foster new projects, and encourage both individuals and businesses to engage more freely with cryptocurrencies. The whispers suggest a potential requirement for crypto-issuing firms to register in the U.S., with a possible pathway for existing foreign crypto businesses to relocate to take advantage of this unprecedented tax incentive. ✨
This rumored policy aligns with Trump's increasingly pro-crypto stance, reportedly influenced by significant donations from crypto founders and investors. It's seen as a strategic move to boost the U.S. economy, create jobs, and appeal to the growing number of crypto enthusiasts ahead of upcoming elections.
However, it's crucial to remember that this remains a rumor. Such a sweeping tax change would require congressional approval, facing potential hurdles and debates over its economic impact and fairness. For now, crypto investors should continue to adhere to existing tax laws. Yet, the mere discussion of such a bold policy underscores a potential seismic shift in how the U.S. government views and regulates digital assets. The crypto world is watching intently to see if these whispers evolve into concrete policy. 👀
Note: As of my last update, there has been no official confirmation or executive order from Donald Trump or his administration implementing a 0% capital gains tax on US-issued cryptocurrencies. While this has been a topic of discussion and speculation, particularly influenced by comments from figures like Eric Trump, and there have been other pro-crypto actions, a full elimination of capital gains tax on crypto has not been enacted into law. The information below is presented as it would be if the rumor were actively circulating as a strong possibility in the current news cycle.
Crypto Tax Shake-Up? 🇺🇸💰 Trump Team Eyes 0% Capital Gains on US-Issued Crypto! 🔥
Explosive whispers from Washington are sending seismic ripples through the cryptocurrency market: sources close to Donald Trump's team are reportedly considering a groundbreaking proposal to eliminate capital gains tax on profits from US-issued cryptocurrencies. This unconfirmed but highly impactful idea, if realized, could fundamentally reshape the American digital asset landscape and potentially solidify the United States' position as a global leader in crypto innovation. 🚀
A Vision for "Crypto-America" Takes Shape 🌟
The rumored initiative aims to supercharge the growth of the domestic blockchain industry. Currently, the IRS treats cryptocurrencies as property, subjecting gains from their sale to capital gains tax rates that can reach up to 37%, depending on income and how long the asset was held. A move to a 0% tax rate on US-issued crypto would be a monumental shift, making American-made digital assets far more attractive for both everyday transactions and long-term investment. ✨
Sources suggest this radical tax cut would likely come with a crucial condition: crypto-issuing firms would be required to register in the U.S. There could also be an enticing pathway for existing foreign crypto businesses to relocate to the United States to capitalize on this unprecedented tax break. This could trigger a significant influx of innovation, talent, and capital, positioning the U.S. as the undisputed "crypto capital" of the world. 🌍
The Political & Economic Playbook: Why Now? 🗳️
Donald Trump has increasingly embraced the crypto community, with reports indicating significant contributions from crypto founders and investors influencing his evolving pro-crypto stance. His administration has already demonstrated a supportive posture, including signing legislation to block certain IRS crypto tax reporting rules and exploring initiatives like a national strategic Bitcoin reserve. 🇺🇸
The proposed 0% capital gains tax aligns perfectly with this broader strategy, aiming to:
* Fuel Domestic Innovation: By removing a major financial barrier, the administration hopes to ignite a surge in the development of new blockchain technologies and crypto projects within U.S. borders. 💡
* Attract Global Talent & Capital: A tax-free environment for crypto gains could be a powerful magnet, drawing in entrepreneurs, developers, and investors from across the globe, thereby creating jobs and fostering substantial economic growth. 💪
* Bolster Political Support: Appealing directly to the rapidly expanding demographic of crypto enthusiasts and investors could secure a crucial voting bloc in upcoming political cycles. 📈
Navigating the Hurdles: Is It a Done Deal? 🧐
Despite the immense excitement surrounding this possibility, it is vital to remember that this remains purely a rumor at this stage. No formal proposal has been introduced in Congress, and even if it were, its journey through the legislative process would be complex and uncertain. Key questions linger:
* Defining "US-Issued": How exactly would "US-issued" cryptocurrencies be defined and differentiated?
* Scope of Application: Would this apply uniformly to all U.S.-issued digital assets, or would there be specific criteria?
* Congressional Approval: Any significant tax change would necessitate congressional backing, which could face bipartisan opposition due to concerns about potential tax revenue loss and market fairness. 🏛️
* Regulatory Implications: Such a dramatic shift could introduce new regulatory challenges, particularly if foreign companies begin to relocate en masse.
For the time being, crypto investors must continue to adhere to existing tax laws, which still mandate the reporting of capital gains and losses. 📚 However, the mere fact that such a bold policy is being discussed signals a potentially transformative moment for how the U.S. views and regulates digital assets. The global crypto community will be watching with bated breath to see if these whispers solidify into concrete policy. 👀 The future of "Crypto-America" might just depend on it! 🌟
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