As the inaugural crypto summit looms, speculation swirls around a potential policy overhaul. At the center of this excitement is the realization of Eric Trump’s zero crypto tax policy, which has sparked a heated debate. The key point of contention is whether Donald Trump will abolish the crypto capital gains tax, a move that could have far-reaching implications for the industry.

Let’s dive into the ongoing debate surrounding the implementation of the zero crypto tax policy and its potential implications.

Will Donald Trump Eliminate Capital Gains Crypto Tax?

Interestingly, Adam Cochran, founder of Cinneamhain Ventures, has poured cold water on growing speculation about the introduction of a zero crypto tax policy in the United States. In his recent X post, Cochran stated that President Donald Trump could not “unilaterally change the tax code.” He added that any amendments to the related laws fall under the jurisdiction of Congress.

According to Cochran, only Congress has the power to make such laws, which is explicitly stated in the Constitution. He added, “Even if the President announced it, or tried to sign an EO for it, that wouldn’t make it law.”

Cochran further pointed out the necessity of understanding the separation of powers in the US government and the role of Congress in shaping tax policies. He also highlighted the basic need for civic education, which could indeed help citizens understand and differentiate between powers.

White House Summit Weighs Zero Tax

President Donald Trump is set to host the first-ever White House Crypto Summit on March 7, 2025 (Friday). While Crypto Czar David Sacks chairs the summit, the Working Group’s Executive Director Bo Hines will administer it. In a recent announcement, the Office of Communications stated,

Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President’s Working Group on Digital Assets.

As Trump aims to transform the US into a crypto capital, the community eagerly anticipates groundbreaking policy announcements at the upcoming summit. One such anticipation is the zero crypto tax policy, proposed by Eric Trump. Though the potential implications of this policy shift remain uncertain, the community expects significant benefits from the proposed zero crypto tax policy.

Will Donald Trump’s Possible Zero Crypto Tax Policy be a Boon?

Recently, Eric Trump proposed the idea of a zero crypto tax policy, arguing that it could boost innovation, investments, and the US’ crypto lead. Though Eric Trump isn’t a policymaker, the community views his opinions as the reflection of the current administration. Many believe that Trump will implement the proposal, driven by his solid support for the crypto industry. Amidst many anticipated policy reforms in the upcoming crypto summit later this week, the introduction of a zero crypto tax policy is also widely anticipated at the summit.

However, with the details of the zero crypto tax proposal still under wraps, ambiguity and uncertainty persist. The idea’s scope is vague as it is unclear if it would apply to all cryptocurrencies. It is also not known whether the policy would include both short-term and long-term gains. Furthermore, the level at which the zero tax would apply – individual or business – remains unspecified.

Moreover, implementing the proposal could have far-reaching consequences. For example, the crypto market may experience extreme volatility and a potential downturn in the short term. Given the current uncertainty surrounding US regulatory frameworks, this may not be the optimal time for such a radical policy overhaul.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.