What’s the Claim?
In early 2025, Eric Trump sparked headlines by apparently confirming that U.S.-based cryptocurrencies—including projects like XRP and HBAR—would soon enjoy a 0% capital gains tax, while non-U.S. crypto projects could face as much as a 30% rate on their gains.
This proposal has generated both optimism and criticism, as it could reshape the way investors and developers view jurisdictional advantages in the crypto world.
What Does Eric Trump Actually Propose?
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According to multiple reports, Eric Trump is advocating for a zero capital gains tax on U.S.-based crypto projects such as XRP and HBAR.
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At the same time, he reportedly supports a 30% capital gains tax on crypto projects that are based outside of the U.S.
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The plan is being presented as a way to boost innovation on U.S. soil, giving domestic blockchain ventures a major competitive edge.
| Topic | Details |
|---|---|
| Why This Proposal Matters | The proposal aims to reshape the crypto landscape by influencing investment trends, competitiveness, and industry growth in the U.S. |
| Competitive Advantage | If implemented, the tax cut could make the U.S. a more attractive home base for crypto projects. Analysts predict it may boost investment into U.S. blockchain companies and accelerate development. |
| Boost for U.S. Crypto Projects | Projects like XRP and HBAR could reinvest more of their earnings into research and development due to reduced tax pressure. |
| Risk for Non-U.S. Projects | Non-U.S. crypto initiatives may face disadvantages. The 30% capital gains tax could discourage foreign developers from operating in or collaborating with U.S. projects. |
Criticism, Challenges, and Uncertainties
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Revenue Concerns: Critics argue that such a tax break could significantly reduce government tax revenue.
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Legal and Legislative Hurdles: As of now, there’s no public record of such a tax policy being passed into law. Some experts say Eric Trump doesn’t have the authority to unilaterally make tax laws.
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Skepticism in the Crypto Community: While the idea has gained traction, some question whether it’s more aspirational than practical.
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Tax Code Complexity: According to a recent tax brief by KPMG, no concrete legislation has yet materialized, and tax-free crypto remains a proposal rather than a policy.
Who Stands to Gain — and Who Might Lose
Potential Winners
U.S.-based crypto projects like XRP and HBAR could dramatically benefit from the exemption. Investors in these projects may see much lower tax bills when selling their coins. Developers and entrepreneurs could be more motivated to create or relocate blockchain startups in the U.S.
Potential Losers
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Non-U.S. crypto companies could face a steep capital gains tax disadvantage.
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The U.S. government might forgo a large portion of potential tax revenue.
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There is a risk of creating an uneven playing field in global crypto competition.
Current Status: Is It Real?
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As of now, this remains a proposal, not a law. No legislative action has been publicly confirmed.
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Tax experts caution that 0% crypto capital gains is not guaranteed, in part due to the complexity of tax reform and potential political pushback.
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Until official legislation is passed, any tax benefit remains speculative.
What It Means for Crypto Investors
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Investors in U.S.-based projects could greatly benefit if such a policy is enacted, with potentially huge savings on capital gains.
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Developers and businesses might look more seriously at building or expanding in the U.S. to take advantage of tax incentives.
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International crypto players may feel pressure to relocate or partner with U.S. operations to stay competitive.
But for now, it’s important to view this as a political proposal, not a confirmed change in tax law.
Final Thoughts
Eric Trump’s pitch for zero capital gains tax on U.S.-based crypto projects is ambitious and could dramatically reshape the landscape of crypto innovation. While headlines suggest a potential tax windfall for domestic projects, the reality is far from certain. No law has been passed, and key questions remain about feasibility, cost, and fairness. For investors and developers, the potential is huge — but so is the risk.
