Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    PEPE: A rally is likely if bulls defend this support level

    August 4, 2023

    US Bitcoin ETFs see historic outflows as brutal sell-off shakes crypto markets

    December 20, 2024

    MEXC purchases $20 million in USDe to boost stablecoin adoption and support $1M campaign prize pool

    February 26, 2025
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Will Pi crash or rally in 2025?

      July 11, 2025

      July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

      July 10, 2025

      UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

      July 8, 2025

      Digital trade tensions take center stage between the U.S. and South Korea

      July 7, 2025

      Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

      July 6, 2025
    • Technology

      SUI Price Targets Breakout as Macro Triangle Pattern Tightens and TVL Tops $2B

      July 11, 2025

      Coinbase partners with Perplexity to unlock real-time crypto data for traders

      July 10, 2025

      Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

      July 9, 2025

      CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

      July 8, 2025

      Dogecoin price double bottoms as whale accumulation continues

      July 7, 2025
    • Learn/Guide

      Best Crypto PR Agencies of 2025

      July 11, 2025

      Coinbase, Perplexity AI join forces to enhance crypto data access for traders

      July 10, 2025

      Top perps DEX GMX hacked for over $40m, $GMX token plunges

      July 9, 2025

      Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

      July 8, 2025

      Plume Network brings real-world yield to TRON’s global payment ecosystem via SkyLink integration

      July 7, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Biden opposes debt deal friendly to ‘crypto traders’ amid threat of U.S. default
    News

    Biden opposes debt deal friendly to ‘crypto traders’ amid threat of U.S. default

    May 21, 20232 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Biden opposes debt deal friendly to 'crypto traders' amid threat of U.S. default
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Policy
    • May 21, 2023, 10:42AM EDT

    U.S. President Joe Biden said he’s keen to strike a deal with lawmakers that would avoid his government from defaulting on its debt obligations but that doesn’t mean he’s willing to ink an agreement friendly to “crypto traders.”

    “I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk [for Americans],” Biden said during the final day of G7 talks in Japan.

    This is not the first time in recent weeks that Biden has chosen to take a shot at cryptocurrency investors amid a looming budget crisis. Less than two weeks ago the president took to Twitter to address closing tax loopholes for “wealthy crypto investors.”

    Without a new budget deal the U.S. could run out of cash as soon as June 1.

    Crypto has clearly been on the president’s mind as he seeks a bipartisan deal that would avoid a potentially catastrophic default. Biden’s proposed budget for next year suggests changing tax policies related to “wash sales” of digital assets, which would eliminate deductions on losses incurred from selling and quickly repurchasing the same or similar crypto investment.

    Biden’s budget has floated a 30% tax on energy used in crypto mining operations. 

    © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Will Pi crash or rally in 2025?

    July 11, 2025

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025

    Digital trade tensions take center stage between the U.S. and South Korea

    July 7, 2025
    Top Posts

    Namibia takes a U-turn with its new crypto regulation bill

    July 31, 2023

    Argentina crypto group plans to set up a blockchain valley in Buenos Aires

    May 29, 2024

    ARK Invest opts out of Ethereum spot ETF, explores alternative paths: Report

    June 2, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Will Pi crash or rally in 2025?

    July 11, 2025

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.