President Biden rejects a friendly guilty deal for crypto dealers
President Biden rejects a friendly guilty deal for crypto dealers
On the last day of the G7 summit in Japan, US President Joe Biden spoke about the ongoing negotiations on a loss of debt and said that he would not support a deal that supports tax fraudsters and crypto dealers.
"I will not agree to an agreement that protects wealthy tax fraudsters and crypto and at the same time endanger food aid for almost a million Americans."
The comments contradict a cross-party agreement on the debt ceiling with republican leaders, from which the president claims that it would benefit crypto dealers.
breaking: President Joe Biden speaks on the last day of the G7 summit
"I will not agree with a deal that protects wealthy tax fraudsters and crypto dealers and at the same time endanger food assistants."
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- Sky News (@Skynews) 21. May 2023
no love for crypto from biden
The protection for crypto (and stock) investors revolves around the confiscation of tax losses. This is a process in which a asset sold with loss and is immediately bought back, so that it does not disappear from the portfolio of the investor, but the profit from the purchase is lower. This enables a reduction in tax due, since capital profits are offset.
The two sides of the political division in America cannot agree on the negotiations on the federal budget and the debt limit. Without a new budget agreement, the United States could go out the money next month, since public debt increases to $ 32 trillion.
President Biden criticized "Wealthy crypto investors" at the beginning of the month when he wants to close tax loopholes.
The Americans and the crypto industry continue to hope that a more industrial government and a president will be elected in the parliamentary elections in November 2024.
Until then, the war against crypto will probably continue, as will the emigration of talents and innovations into friendlier foreign jurisdictions.
In addition, the bidet government has proposed an energy tax of 30 % on crypto miner, which could further heat up the persistent emigration.
However, there is a glimmer of hope. At the Bitcoin conference in Miami last week, presidential candidate Robert F. Kennedy promised his support for Bitcoin and the crypto industry in the United States.
outlook on the cryptom market
The cryptoma markets fell into the minus during the Asian trading session on Monday morning. As a result, the total capitalization has dropped by 1.7 % to $ 1.7 % at the time of writing.
Bitcoin fell by almost 2 % to $ 26,633 on this day, while Ethereum fell by 1.1 % and fell below $ 1,800 again.
Overall, the cryptoma markets are still restless and fluctuate on a monthly perspective after they have returned to the current level from their highs from mid -April 2023.
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