#TrumpTaxCuts
Donald Trump's stance on cryptocurrency taxes has been a topic of interest, with several developments worth noting:
Trump's Crypto Tax Plans
- *Corporate Tax Cut*: Trump has vowed to reduce the corporate tax rate to 20% and make the 2017 tax cuts permanent, which could foster a business-friendly environment for crypto companies.
- *Zero Capital Gains Tax*: Trump's administration is reportedly planning to make profits on cryptocurrencies issued by US-based companies capital gains tax-free. This could attract international companies and drive innovation in the US crypto space ¹ ².
Recent Crypto Tax Developments
- *Repeal of Controversial IRS Rule*: Trump signed a bill repealing an IRS rule that would have imposed stringent data reporting requirements on cryptocurrency brokers, delivering a victory to the digital asset industry.
- *Block on IRS Crypto Tax Rule*: In April 2025, Trump signed legislation blocking an IRS rule that would have forced some cryptocurrency brokers to provide tax information on transactions conducted on their platforms ³ ⁴.
Potential Impact
- *Attracting Crypto Projects*: The proposed tax cuts could poach crypto projects from other countries, such as Switzerland's "Crypto Valley," which currently has a corporate tax rate of 12-24%.
- *Fairness Concerns*: However, exempting crypto from capital gains taxes could disrupt the principle of uniform taxation and create tax carve-outs for a single sector.
- *Federal Revenue Impact*: Exempting crypto could also blow a hole in federal revenue streams, contributing to the already significant budget deficit ⁵ ⁶.
