๐บ๐ธ U.S. remittance tax proposal could boost XRP in B2B & P2P crypto transfers
A new U.S. House tax proposal includes a 5% tax on international money transfers using traditional providers like PayPal and MoneyGram. While it targets personal remittances, it could have major unintended consequences that benefit crypto adoption.
๐ซ The good news? Peer-to-peer (P2P) crypto transfers and self-custody wallets are excluded. That makes crypto a more attractive option for individuals sending money abroad without fees, delays, or surveillance.
๐ผ On the business side, XRP and RippleNet could see increased adoption in B2B transactions. Companies already using XRP for cross-border payments can benefit even more as traditional rails become costlier and more regulated.
Key Takeaways:
โขThe proposal targets personal remittances in the U.S.
โขP2P crypto transactions are unaffected โ
โขXRP could gain traction in both P2P and B2B transfers ๐
โขCrypto offers a faster, cheaper, and more private alternative to legacy systems
Is this the tipping point for XRP and broader crypto adoption in the U.S.?
