David Sacks pushes back against idea of crypto transaction tax

The Trump administration is currently exploring proposals for major tax, cryptocurrency and administrative reform in the United States.

White House crypto and AI czar David Sacks rejected the idea of taxes on each cryptocurrency transaction as a method of filling the US strategic Bitcoin (BTC) reserve and crypto stockpile with digital assets.

During a recent appearance on the All In Podcast, host Jason Calacanis proposed charging a 0.01% tax on every cryptocurrency transaction, which would be denominated in the asset that is transferred, bought or sold. Sacks responded:

“I don’t particularly like the idea of new taxes, even if it is promised that they won’t affect people very much. That sounds burdensome to me,” Sacks continued.

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