Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    OG Crypto Artist Trevor Jones Unveils Groundbreaking Ordinals Collection | NFT CULTURE | NFT News | Web3 Culture

    July 17, 2024

    Binance.US’s market share nosedives after SEC lawsuit

    June 18, 2023

    Solana meme coin Moo Deng maintains over $300m market cap, continues to accumulate

    September 29, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Anchorage Digital integrates Uniswap Labs Trading API to give institutional wallet users improved DeFi liquidity

      June 23, 2025

      Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

      June 22, 2025

      Here’s why the Kaia price has gone parabolic

      June 20, 2025

      X Boss Yaccarino: Users Will Trade, Tip, and Spend Without Leaving the App

      June 19, 2025

      Crypto Gets A Green Light From Spanish Banking Giant

      June 18, 2025
    • Technology

      The Crypto Token Development Process

      June 23, 2025

      Ford Teams Up With Iagon to Pilot Cardano-Powered Legal Data Storage Solution

      June 22, 2025

      Useless Coin price surges as smart money investors buy

      June 21, 2025

      Comment on SEC Extends Grayscale’s Ethereum ETF Staking Proposal Review Deadline to June by oldlove

      June 20, 2025

      Coinbase Seeks SEC Approval to Offer Tokenized Equities Trading

      June 19, 2025
    • Learn/Guide

      Past Trends Suggest FUNToken Is Just Getting Started

      June 23, 2025

      Bitcoin crashes on Iranian Parliament approval of Hormuz Strait closure

      June 22, 2025

      CoinMarketCap’s front-end compromised, investigation underway

      June 21, 2025

      Fed’s Waller says rate cut could come as soon as July

      June 20, 2025

      Only 30% of crypto miners comply with Russia’s new rules, finance ministry official says

      June 19, 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

    Anchorage Digital integrates Uniswap Labs Trading API to give institutional wallet users improved DeFi liquidity

    June 23, 2025

    Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

    June 22, 2025

    Here’s why the Kaia price has gone parabolic

    June 20, 2025

    X Boss Yaccarino: Users Will Trade, Tip, and Spend Without Leaving the App

    June 19, 2025
    Top Posts

    An Easy Start Guide for Beginners

    January 16, 2024

    Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

    October 2, 2023

    Binance fake-app scammers steal crypto funds via malicious Skype app: SlowMist

    November 13, 2023

    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

    Anchorage Digital integrates Uniswap Labs Trading API to give institutional wallet users improved DeFi liquidity

    June 23, 2025

    Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

    June 22, 2025

    Here’s why the Kaia price has gone parabolic

    June 20, 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.