John E Deaton|1月 22, 2025 15:36
Agreed.
@realDonaldTrump, with the help of @DavidSacks, @BoHines, @DonaldJTrumpJr, @EricTrump, and others, is setting up a White House Crypto Council.
IMO, here are the top things to focus on:
1) REPAEL SAB 121:
The repeal of SAB 121 is the most important first step. It is foundational and allows Crypto to become part of the financial infrastructure in a global economy.
2) A DE FACTO SBR:
In order to establish a SBR where the government actually buys BTC (eg 500K to 1M BTC) over a specific period of time, it will require an Act of Congress. @SenLummis has a proposed bill.
President Trump could, however, establish a de facto SBR by EO. He could order the creation of a cryptographic escrow locking up the 200K BTC, currently owned by the USG, for 20 years. This serves as a de facto SBR - an asset owned by the USG, with no intent to sell.
3) TAXES PAID BY CRYPTO:
Allow people to pay taxes using BTC/Crypto without incurring a capital gains tax when they make a tax payment. A very small percentage of taxes collected in crypto could also be deposited in the cryptographic escrow to build the Reserve.
A lot of people are expecting a SBR to get passed. I believe that is overly optimistic. Republicans don’t have a big majority. Plus, Congress doesn’t act very fast and ONE YEAR from now, we’ll be in midterm election season. The midterms come quick. If the Democrats take control of the Senate in 2026 (not saying it’ll happen only IF), guess who’s in charge of the Senate Banking Committee!
4) CRYPTO TAX POLICY IN GENERAL:
Bitcoin/Crypto is treated like property by the IRS. If you want to use Crypto to pay for a new car or as a down payment on a new home, you’re subject to capital gains taxes. Changing the classification is a game changer.
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