🔶 President Joe Biden aims to eliminate tax loopholes for crypto traders and hedge fund managers by promising to make the US federal tax system fair. Biden states that he aims to "achieve tax law justice".

🔶 Biden talked about taxation for crypto traders in his economic policy speech “Bidenomics” in Chicago on Wednesday. In his speech, Biden questioned the fairness of the federal tax system and stated that he aims to close tax gaps for crypto traders and hedge fund managers and make the tax system work more fairly.
🔶 President Biden emphasized that billionaires should pay a minimum tax, noting that the rich, super-rich and big corporations should share the tax burden. He also touched upon the importance of making the tax law fair for all and said that they aim to protect the middle class from tax increases.
🔶 Biden's speech caused controversy among crypto advocates. While some supported President Biden's actions, considering the tax gaps to be significant, others expressed that taxation policies could negatively impact capital gains. The way President Biden will follow to achieve his tax reform goals and what kind of regulations he will bring will become clear in the future. #ContentStar# #New Messenger# #BountyCreator#