"Trump's 'Great, Beautiful Bill' May Push Millions to Cryptocurrency.
If Trump's bill is passed in its current form, it will impose a 5% tax on money transfers, affecting over 40 million people. Analysts warn that this could encourage the use of alternative options, such as cryptocurrency, to ensure that these funds reach their destination while avoiding the proposed tax.
The 5% tax on money transfers 'great, beautiful bill' may stimulate a revival of cryptocurrency adoption.
Although the option of using cryptocurrency for money transfers has not gained popularity, this may soon change. The Republican Party's priority bill, which President Donald Trump has called a 'great, beautiful bill,' proposes a 5% tax on money transfers sent by non-US citizens to their home countries.
This could affect over 40 million people in the US, including recipients of various visa programs who send a portion of their income to support their families abroad.
