Trump’s New 5% Remittance Tax Could Spy on Your Money—But Crypto Stays Untouched
Big shift coming! Here's what you need to know:
Trump’s “Big Beautiful” tax bill just dropped a 5% remittance tax bombshell—and it’s already catching heat. Why? Because it gives U.S. agencies more access to track your international money transfers.
If you use services like PayPal, Western Union, or MoneyGram, you might be forced to use only “qualified” (a.k.a. government-approved) providers—or pay extra. That means fewer options, more surveillance.
But here’s the loophole that’s got the crypto world buzzing:
Crypto is exempt.
That’s right—peer-to-peer transfers using self-custody wallets like MetaMask, Trust Wallet, or hardware wallets are completely outside the tax’s scope.
No 5% tax. No surveillance. Total control.
Peter Van Valkenburgh from Coin Center warned this could become another data grab like the Treasury's 2020 rule attempt. Still, the bill leaves crypto tools untouched—for now.
What this means for you:
People are already shifting remittances to crypto. This tax could speed up adoption as users escape surveillance and save on fees.
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Meanwhile in Congress
House Republicans are clashing over other parts of the bill:
Cutting $1.5T+ in social programs
Expanding SALT deductions
Giving tax breaks on tips, overtime, and car loan interest
But ironically, people earning under $15K/year could pay more taxes
The vote is racing toward a May 26 deadline and it’s a nail-biter.
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Bottom Line?
This bill could be a blessing in disguise for crypto.
Privacy lovers and global remitters now have even more reason to use Bitcoin, stablecoins, and DeFi tools.
Stay ahead. Stay decentralized.
