Biden’s capital gains tax plan

[TomPluz]

More taxes may cause short-term volatility, “but long term, you may see more demand for DeFi applications and other collateralized use cases.”

There are often multiple causes for an asset’s sharp decline, but Bitcoin’s (BTC) 10% “nosedive,” which took place on April 22, may be blamed on the Biden Administration’s reported plan to tax capital gains at double the current rate on America’s wealthiest.

Source: https://cointelegraph.com/news/biden-s-capital-gains-tax-plan-to-pull-crypto-down-to-earth-from-the-moon


Well, what can we expect from a Democrats-controlled administration? Democrats are known to be a lot easier to impose more taxes, and they may be doing it against the cryptocurrency market. Though of course, more tax can be a  lot better than banning, so this is just another thing that those in the USA have to swallow. I am glad that I am not in the USA, and I am not a USA citizen.