Eric Trump Confirms US Crypto Projects to Enjoy Zero Capital Gains Tax

On January 26th, according to The Street, Eric Trump, the son of Donald Trump, confirmed that US-based encryption projects such as XRP and HBAR will enjoy zero capital gains tax in the future, while non-US projects will face a tax rate of 30%. Meanwhile, Senator Ted Cruz plans to use the Congressional Review Act to challenge a controversial IRS rule that requires DeFi brokers to report user data and transaction income. Cruz believes that this rule hinders innovation, violates privacy, and increases compliance burdens for decentralized platforms.