Recent speculations about X suggest that President Donald Trump could suggest eliminating capital gains tax on cryptocurrency sales.
Rumors circulating online say no official confirmations are offered, but an announcement may come on Friday.
The potential policy has sparked excitement among crypto investors, but legal experts and analysts point to important hurdles. Changes to the tax system require council approval.
Just: @erictrump and @davidfbailey are slipping into their incongruous channels that they are about to announce on Friday that US-based cryptocurrencies will have no capital gains tax if they have held for more than a year.
– Magoo PhD (@hodlmagoo) March 4, 2025
Famous Crypto analyst Adam Cochran directly addressed the allegations on Twitter and opposed the proposal that Trump could unilaterally implement the policy.
“The president cannot unilaterally change tax laws. Cochrane tweeted. “This is one of the few parliamentary powers explicitly laid out in the constitution.”
He went on to laugh at the idea of an executive order to eliminate the capital gains tax, and compared it ironically to himself as declaring a cupcake.
His argument highlights fundamental aspects of US governance. Tax policy has been legislated by Congress and not decided by the President. The president can advocate for changes in tax systems and influence regulatory policies, but capital gains tax reform requires approval from both the House and Senate.
You might like it too: Michael Saylor has been invited to the White House Digital Assets Summit
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