President Trump recently proposed eliminating federal income taxes, replacing them with high tariffs — a move that could dramatically reshape the U.S. economy. While experts question the math behind replacing $2.4 trillion in tax revenue (CNN), the crypto market is reacting bullishly. Trump's pro-crypto stance, including plans to eliminate capital gains taxes for U.S.-issued cryptocurrencies, has already sparked surges in altcoins like XRP, ADA, and XLM (Binance).
If realized, this tax shift could accelerate Bitcoin and crypto adoption as investors seek inflation hedges and alternative assets. Still, inflation risks and global trade tensions loom large.
Overall sentiment: Bullish for crypto, cautious for the broader economy.
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