Eric Trump Confirms Zero Capital Gains Tax for XRP and HBAR: Major Implications for US Crypto Projects

In a recent announcement, Eric Trump disclosed that US-based cryptocurrency initiatives, such as XRP and HBAR, may soon benefit from a regime of zero capital gains tax. This development puts a spotlight on the competitive advantages that US projects could harness, contrasting sharply with the hefty 30% tax rate that will burden non-US crypto endeavors. Additionally, Senator Ted Cruz has voiced his intent to counter the contentious IRS regulation mandating that DeFi brokers disclose user data and transaction profits. Cruz argues that this rule not only stifles innovation within the sector but also infringes on user privacy and imposes excessive compliance responsibilities on decentralized finance platforms. Such discussions underscore the evolving regulatory landscape surrounding cryptocurrencies and the growing calls for policies that favor blockchain development in the United States.