Trump's Crypto Divestiture Plan Could Trigger Tax Windfall
A bipartisan crypto bill proposal aimed at getting landmark legislation through Congress has an unexpected benefit for President Donald Trump. The plan includes an ethics addendum requiring the president to divest from cryptocurrency-related businesses, which could lead to a significant tax break.
The provision would allow the president to defer paying federal taxes on his crypto gains potentially for years, or even indefinitely, according to people familiar with the matter who wish to remain anonymous. This move is part of ongoing negotiations between lawmakers and the White House regarding the release of the ethics addendum.
No details have been made public about the specific businesses Trump would need to divest from, but those involved in cryptocurrency-related activities are likely targets. The proposal's aim is to ensure that elected officials do not profit from their positions or gain unfair advantages through their involvement with crypto ventures.