๐จ Bitcoin Tax Update (US) ๐จ
David Bailey, crypto advisor to Trump, says thereโs a 75% chance Congress may scrap Bitcoin capital gains tax. โก (This is his personal forecast, not confirmed law.)
๐ฐ Current rules:
Short-term gains (<1 yr): taxed as ordinary income (10โ37%)
Long-term gains (>1 yr): taxed 0โ20%
Until Congress acts, crypto gains must be reported and taxed.
โ ๏ธ Disclaimer: Informational only โ not financial, legal, or tax advice. Always consult a professional.