A White House spokesperson announced that President Donald Trump has openly supported new legislation aimed at encouraging the use of cryptocurrencies.
The spokesperson stated that they want to make payments with cryptocurrency easier and more widespread in daily life, saying, “We want to make transactions as simple as buying coffee with cryptocurrency possible.”
The White House specifically said it supports a tax exemption of up to $600 on cryptocurrency spending. The spokesperson said the measure was supported by President Trump and is part of his goal to “make crypto payments more efficient.”
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The spokesperson stated that the “GENIUS Act,” which includes regulations on cryptocurrency taxation and digital payments, has sufficient support for passage in Congress, and announced that President Trump is scheduled to sign the legislation on Friday. He is also expected to sign other legislation related to encryption technologies at the event.
In statements made by the White House, it was stated that the ongoing trade negotiations with the European Union were progressing in a “promising” manner, while the assessment was made that “We will wait and see” regarding the planned agreement with Canada.
The spokesman said that if Russia does not reach an agreement within 50 days, it will face high customs duties and secondary sanctions will be imposed on those purchasing Russian oil in the process.
*This is not investment advice.
Continue Reading: JUST IN: White House Makes Surprise Statements About Cryptocurrencies – “Open Support for Legal Regulations”
