Crypto assets made in the US will be tax-free including HBAR and XRP, here's the list!

Bittime - A new step in the world of digital assets is being highlighted in the United States. The planned capital gains tax exemption for US-based crypto projects, such as Hedera (HBAR) and Ripple (XRP), is a breath of fresh air for developers and investors.

This change is also expected to encourage innovation and strengthen the US' position as the world's premier crypto hub.

However, this policy raises a big question: non-US crypto projects may face tax rates of up to 30%. What are the digital assets that could potentially benefit from this policy, and how will it impact the global crypto ecosystem?

Potential Tax Exemption for US-Based Crypto Assets

Eric Trump, son of former President Donald Trump, recently revealed an ambitious plan to exempt capital gains tax for made in US crypto projects. The move is part of the US strategy to attract greater investment and support the growth of domestic blockchain technology.

Also read: 8 Best Crypto Projects Developed in the US, There are XLM, HBAR, and XRP

Some well-known crypto projects, such as Ripple (XRP) and Hedera (HBAR), are expected to be the main beneficiaries of this policy. With the tax exemption, these digital assets may become more attractive to investors and developers, giving them a competitive edge in the global market.

However, this policy has also sparked debate. Non-US crypto projects may have to pay a capital gains tax of 30%. Critics argue that the policy may hinder global collaboration and create a gap in the crypto ecosystem.

List of US-Based Crypto Assets to Benefit

Here are some of the US-based crypto assets that could potentially benefit from this tax exemption policy:

1. Ripple (XRP)

Ripple Labs, based in San Francisco, has long been recognized as a pioneer in cross-border payment solutions. XRP can process transactions with low fees and fast times. With friendlier tax policies, Ripple can strengthen its position in the global market.

2. Hedera (HBAR)

Hedera, which is managed by a board of global companies such as Google and IBM, is also based in the US. The network is known for its high efficiency and low environmental impact. Tax exemptions may strengthen its appeal among large institutions.

3. Solana (SOL)

Solana Labs, based in San Francisco, has become one of the fastest and most efficient blockchains. With speeds of up to 2,000 transactions per second, Solana has attracted global attention, and this policy could further increase its popularity.

4. Algorand (ALGO)

Developed in Boston, Algorand is an eco-friendly blockchain platform with high efficiency. Its technological advantages make Algorand an attractive option for decentralized application developers.

5. Stellar (XLM)

Founded by Jed McCaleb, Stellar is based in San Francisco. Its focus on financial inclusion makes it one of the most innovative crypto projects in the US. Stellar could potentially capitalize on new policies to expand its reach.

6. Filecoin (FIL)

Filecoin, designed by Protocol Labs, is based in California. As a decentralized data storage solution, Filecoin can be a top choice for tech companies that need secure and efficient storage infrastructure.

Also read: Alchemy Pay Expands to Australia, Positive Impact for ACH Coin?

Tax Policy Changes and Their Impact

This policy plan reflects a major move by the US government to encourage domestic innovation and investment. By offering tax incentives, the US can strengthen its position as a global leader in blockchain technology and digital assets.

However, this policy may also create new challenges. High tax rates for non-US projects might hinder cross-border collaboration and spark debates about fairness in regulation.

Conclusion

The US move to exempt capital gains tax for made in US crypto assets is an important milestone in the development of the blockchain industry. This policy not only provides a competitive advantage for US-based projects, but also creates great opportunities for local investors and developers.

However, it is important to take a close look at how this policy will impact the global market. Will it reinforce US dominance or create new challenges for international collaboration? Time will tell.

FAQ

What is the purpose of this capital gains tax exemption policy?

This policy aims to encourage innovation, attract greater investment, and strengthen the United States' position as a major center for blockchain technology and global digital assets.

What crypto assets could potentially benefit from this policy?

Some of the US-based crypto assets that could potentially benefit are Ripple (XRP), Hedera (HBAR), Solana (SOL), Algorand (ALGO), Stellar (XLM), and Filecoin (FIL). These projects are based in the US and have the potential to be more competitive in the global market thanks to these tax incentives.

How will this policy impact non-US crypto projects?

Non-US crypto projects may face a capital gains tax of up to 30%, which could be a barrier to global collaboration. This policy sparked a debate on regulatory fairness and its potential impact on the international crypto ecosystem.

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Reference

coincu.com, US-based Crypto Projects Hope for More Attractive New Tax Rates, accessed on January 28, 2025.

Author: AWW