• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Tax Trap! Famous Lawyer Explained: If You Buy These Cryptocurrencies, Your Pocket Could Be Burnt!
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > Tax Trap! Famous Lawyer Explained: If You Buy These Cryptocurrencies, Your Pocket Could Be Burnt!
Crypto News

Tax Trap! Famous Lawyer Explained: If You Buy These Cryptocurrencies, Your Pocket Could Be Burnt!

vitalclick
Last updated: January 26, 2025 9:03 am
4 months ago
Share
SHARE

Contents
Concerns Over Tax PoliciesImpact of Tax Incentives on Crypto AdoptionInstitutional Crypto Adoption and Treasury Strategies

Pro-XRP lawyer John Deaton has raised important questions about which projects would be covered by the proposed zero capital gains tax exemptions for US-based cryptocurrency projects. Deaton’s statements focus on how companies with global connections will be affected by the exemptions.

Concerns Over Tax Policies

Deaton, in his statements about the uncertainty of US-based crypto projects, Solana and Tezos $1.1 He questioned whether projects such as those with operations or bases abroad are eligible for tax exemption. Solana Labs operates in San Francisco and Solana Foundation operates in Switzerland.

Tezos, on the other hand, was developed by US-based Arthur and Kathleen Breitman but is managed by the Switzerland-based Tezos Foundation. Deaton stated that there is uncertainty about whether such hybrid structures will be considered US-based entities under new tax policies.

Impact of Tax Incentives on Crypto Adoption

Deaton emphasized that cryptocurrencies such as XRP, XLM, HBAR, AVAX and XCH may face fewer jurisdictional problems. These projects may have the potential to benefit from zero capital gains tax by meeting the criteria on the surface.



Additionally, Deaton questioned whether companies that keep digital assets in corporate treasury would gain a competitive advantage. Especially Ripple $3.1He emphasized the possibility of US-based companies such as Gemini and ConsenSys benefiting from tax exemption.

Institutional Crypto Adoption and Treasury Strategies

Deaton, Bitcoin $104,158.6evaluated the potential of strategies to include cryptocurrencies such as XRP and HBAR in the company treasury to provide exemptions under new tax policies. He stated that companies such as MicroStrategy can gain tax advantages with these strategies.

Additionally, Deaton criticized past regulatory actions by the U.S. Securities and Exchange Commission (SEC), highlighting the challenges facing the crypto industry. He called for clearer regulations.

“Clarifying regulations is critical to supporting innovation.” –John Deaton

Deaton explained that he identified four main goals for the White House Crypto Council, asking members to focus on SAB 121, strategic Bitcoin reserve establishment, crypto tax payments, and general crypto taxation policies.

In summary, Deaton’s recommendations offer important information about how US crypto projects can benefit from tax exemptions and the challenges that may be encountered in the process.



Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

You Might Also Like

Elon Musk Spicing Up Dogecoin Rally, Will DOGE Continue Soar?

Binance Delisting Non-MiCA Stablecoins in Europe USDT, DAI, PAXG & More

Why is Crypto Market Down Today? Profit-Taking and Recession Fears Hit Prices

How Many Dollars Will ENA, SUI and LINK Coin Be This Week?

Is Ripple Lobbying Against U.S. Strategic Bitcoin Reserve? CEO Reacts

TAGGED:Cryptocurrency
Share This Article
Facebook Twitter Email Print
Previous Article The last company to be caught in the Bitcoin storm! The Nasdaq giant buried half of the cash in BTC!
Next Article Bomb Announcements from this Altcoin, the star of Solana! 3 big plan has been announced!
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?