Robert F. Kennedy Jr. Vows to Exempt Crypto from Capital Gains Tax
Key Points:
– Robert F. Kennedy Jr. promises to exempt crypto from capital gains tax if elected as president.
– He reiterates his commitment to defending the right to self-custody bitcoin and run blockchain nodes at home.
– Kennedy believes that exempting crypto from tax will facilitate innovation, spur investment, and incentivize business growth in the United States.
– Currently, the IRS treats crypto as property and investments subject to tax on capital gains.
– Crypto companies are calling for more regulatory clarity and are hopeful that a ruling against the SEC in the Ripple lawsuit will lead to a change in approach.
Hot Take:
Robert F. Kennedy Jr.’s promise to exempt crypto from capital gains tax demonstrates his understanding of the potential benefits of the industry. By incentivizing innovation and investment, he aims to keep tech jobs and business growth within the United States. This stance aligns with the desires of the crypto community and could potentially attract more support from crypto enthusiasts. However, it remains to be seen if Kennedy’s proposal will gain traction and if he will be elected as president.
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