#特朗普税改 【Trump's Tax Reform May Disrupt the Landscape of the Crypto Market】

The "America First" tax reform plan proposed by Trump may profoundly impact the crypto asset ecosystem. The core change is the proposed reduction of the capital gains tax rate from 20% to 15%, which will stimulate the activity of short-term cryptocurrency trading. For investors holding assets for more than five years, the tax rate will drop to 6%, which may promote long-term holding behavior and alter the existing market liquidity structure.

If the tax reform passes, the reporting obligations for U.S. taxpayers regarding crypto assets will become clearer. The IRS may strengthen data audits on exchanges like Coinbase, prompting more high-net-worth individuals to hold digital assets through trusts or offshore structures. Tax incentives will attract traditional capital inflows, but may also increase the complexity of tax planning.

Be wary of policy arbitrage risks: institutions may exploit the tax rate differences for cross-border trading, while retail investors may face regulatory crackdowns due to reporting loopholes. The tax compliance costs and opportunities in the crypto market will be redistributed, potentially giving rise to new asset management models. This tax reform is worth continuous tracking.