US President Donald Trump is reportedly considering pushing for lower capital gains taxes, including indexing capital gains to inflation and expanding tax exemptions for home sales. This move could allow cryptocurrency investors to retain more profits when selling assets.
Donald Trump is reportedly considering calling on Congress to link capital gains to inflation and expand tax exemptions for certain home sales before the November midterm elections, Bloomberg reported on Wednesday. Former National Economic Council Director Larry Kudlow said he recently discussed capital gains indexation with Trump, while current Director Kevin Hassett stated that the President is examining more policies to win over voters. No proposals have been formally announced, and most changes to federal tax law require congressional approval. The IRS treats digital assets as property, meaning that a general reduction in capital gains taxes could also benefit investors in Bitcoin, Ethereum, and other cryptocurrencies, unless legislation specifically excludes digital assets.
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