United States President Joe Biden’s proposed cryptocurrency tax regulations are causing concern among many. These regulations would require brokers (individuals facilitating buying and selling) to report digital currency transactions to the government, aligning with existing practices for other monetary transactions.
However, these rules are facing opposition within the cryptocurrency community. Critics argue that these stringent measures could stifle innovation and progress within the US.
Ryan Selkis, CEO of Messari, is a vocal opponent of this concept. He predicts unfavorable outcomes for the US cryptocurrency industry if Biden is reelected.
There’s no future for crypto in the US if Biden is reelected. I’m sorry.
Move abroad, draft Newsom and hope for the best, or vote GOP where at least we know the top three candidates are less terrible on this issue.
Crypto has always been political.
Have a nice weekend.
— Ryan Selkis (@twobitidiot) August 25, 2023
Similarly, Chris P
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