RATE Group | Could Bitcoin be tax-free under new Trump policy?
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Could Bitcoin be tax-free under new Trump policy?

18 Feb Could Bitcoin be tax-free under new Trump policy?

Posted at 03:57h in Cryptocurrency News by

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In brief

  • A senior presidential advisor has suggested that a new stimulus package include tax-free investments, outside of the standard 401k exemptions.
  • The measure is designed to boost for the stock market, and could affect cryptocurrency investments.
  • The new proposals won’t be formally introduced until fall.

President Donald Trump’s administration is considering new tax incentives intended to boost the stock market, and allow more Americans to buy stocks, shares and—potentially—cryptocurrencies such as Bitcoin.

According to multiple sources who spoke to CNBC on Friday, the proposal treats a portion of household income as tax-free for the purposes of investing outside a traditional 401(k)—a plan that allows an employee to divert a portion of their salary into long-term investments.

Larry Kudlow, director of the National Economic Council and a senior adviser to Trump, told CNBC that the approach centers on creating “universal savings accounts,” funded tax-free. Any…

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