Cryptocurrency advocacy organization Coin Center: Despite Trump's victory, U.S. policy may still "scare off" crypto investors

2024-11-23 16:27:07

Collection

ChainCatcher news, according to Cointelegraph, the nonprofit cryptocurrency advocacy organization Coin Center warns that while a Trump victory would be good for the cryptocurrency industry, entrenched policies could still scare away American cryptocurrency innovators.

Coin Center's research director Van Valkenburgh analyzed the prospects for U.S. crypto policy after the 2024 election in an article and shared three major "serious threats" facing U.S. crypto users and developers in 2025. One major threat comes from the cryptocurrency reporting requirements set forth in U.S. tax code Section 6050I, which mandates that individuals receiving more than $10,000 in cryptocurrency report it to the IRS without a license. The second and third major threats stem from sanctions imposed on Tornado Cash, including unlicensed remittance criminal charges against mixing services and Samourai Wallet.

(Source Link)

Related tags

Coin Center US policy crypto investors

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.