Solana Co-Founder Warns Wealth Tax Could Hurt Founders
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Solana co-founder Anatoly Yakovenko warns government money printing would inflate asset values and make a proposed wealth tax effectively tax unrealized gains via annual assessments. David Friedberg says a wealth tax grants the government the yearly right to assess all assets, requiring full asset disclosure and undermining private property rights and privacy compliance. Crypto impact: such taxation and disclosure rules create regulatory and privacy risks for founders, investors and protocols, likely discouraging crypto/DeFi adoption and complicating compliance for CEXs/DEXs.
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- Solana co-founder warns inflation boosts asset values, triggering wealth taxes on unrealized gains.
- David Friedberg warns wealth tax gives the government the annual right to assess everything you own.
- Friedberg says compliance requires full asset disclosure every year, destroying private property rights.
Solana Labs co-founder Anatoly Yakovenko weighed in on the wealth tax debate this week, arguing that government money printing makes proposed wealth taxes more damaging than they appear on paper.
What Triggered the Exchange
Yakovenko was responding to entrepreneur and investor David Friedberg’s comment, which he made during a recent podcast appearance. Friedberg’s argument centered on what he described as the structural danger of giving the government the power to assess private net worth annually.
“A wealth tax takes away private property,” Friedberg said.…
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