No Crypto Tax? White House ‘Czar’ Shoots Down Transaction Fee

• David Sacks dismissed the idea of 0.01% crypto transaction tax
• The proposal involves using the tax revenue to establish a US strategic Bitcoin reserve
• In the past, Donald Trump has supported the elimination of federal income tax, suggesting import tariffs as an alternative

White House AI and crypto czar David Sacks has rejected the idea of a crypto transaction tax. He voiced his opposition during a current appearance on Jason Calacanis’ All In podcast. Sacks dismissed host Jason Calacanis’ suggestion of a 0.01% tax on all crypto transactions, an idea proposed to fund a US Strategic Bitcoin reserve.

Sacks opposed the idea. He stated that all taxes always start very small and then grow over time. Therefore, he called the idea burdensome.

Crypto Investors Agree: Small Fees Could Hurt Adoption 

He is not alone in these thoughts as crypto investors also expressed disapproval, citing concerns that even small transaction fees could hinder widespread acceptance.

Although the most recent White House Crypto Summit lacked new tax regulations, the administration has suggested future tax changes before. Notably, Donald Trump has previously advocated for the abo…

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