The White House confirmed on Thursday that President Donald Trump is still committed to carving the minimum tax on daily bitcoin and other encrypted currency payments, a policy that his economic team believes will allow digital money “such as buying a cup of coffee.”
Trump supports Bitcoin and exempting encryption tax
The press secretary, Caroline Levit, made notes during the daily briefing after the Bitcoin Frank Corva reporter compressed The administration is about whether the president is still behind a $ 600 threshold, which was first fierce this year. “The president indicated his support to exempt the minimum encryption, and the administration still supports this,” Levit said, adding that the Treasury and Congress “explores legislative solutions to accomplish this.”
Levitt has argued that the procedure will remove the partial burden that is currently forcing users at the expense of the capital of the capitalist limbs each time they spend digital assets. “For the time being, this cannot happen, but with a minimum exemption that may be in the future,” she told reporters, to frame sculpture as it is crucial for Trump’s pledge to make the United States “the capital of encryption in the world.”
The exemption is expected to appear in the follow -up legislation later this year, but it already has a momentum in the Capitol Hill. On Wednesday, the House of Representatives developed the genius law of both parties, which is the first comprehensive federal framework for Stablecoins, and a separate bill that would write the minimum standard directly in the internal revenue law. Levitt said that the genius law has cleared the room 308-122 and is scheduled to be held at the signing ceremony of the Al-Waroud Park on Friday.
Trump’s batch picks up a discussion that started in 2022, when Senator Bat Tommy and Kirston presented the tax law of the virtual currency of the virtual currency to exempt the gains of up to $ 200 per treatment, which is less than the $ 600 roof that the White House now supports. Industry groups such as Coin Center and Blockchain Association have long been arguing that parity with foreign currency bases is necessary to adopt retail encryption.
Levitte also repeated that the president “opposes a central digital currency”, noting that Trump’s executive order prevents the Federal Reserve from one issuance and support Congress efforts to write down this ban. The joint package – supervision of Stablecoin, the rules of securities – the rules, is the CBDC and the upcoming De Minimis reform law – as “an organizational basis that will launch US leadership in decades.”
Exclusion of $ 600 will significantly reduce the friction of low -value encoding, while leaving large tax transfers completely, which leads to a balance between use of use and revenue protection. Whether the final threshold reaches $ 200, $ 600 or an inflation index, it will depend on the Senate negotiations later this summer, but the White House support gives the measure the strongest many tail ideas so far. Levitt also summarized: “The president is looking to sign every part of the pro -relics that Congress can send.”
At the time of the press, Bitcoin was traded at $ 120,576.
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The post Bitcoin De Minimis Tax Exemption Backed By Trump: White House first appeared on Investorempires.com.
