Biden intends to collect $24 billion in taxes from the crypto industry!
Biden intends to collect $24 billion in taxes from the crypto industry!
The head of the U.S. proposed changes to the taxation laws of “crypto”. In particular, it is proposed to increase the tax on capital gains to 39.6% on income of $1 million or more – a two-fold increase in tax.
Also, the law would prohibit the sale of unprofitable assets and their subsequent redemption to reduce the tax base. Such transactions are already prohibited with stocks and bonds in the United States.
According to the president’s calculations, the measures will bring in $24 billion in taxes and reduce the budget deficit by $3 trillion over 10 years. The law will be considered by the U.S. Congress and Senate.
