Goldman Sach

New President Biden’s Bill Targets Crypto Tax to Fund Economy Development

President Biden has appeared in crypto news again, this time with a new infrastructure bill that seeks to improve the American economy, and the costs would be settled via crypto tax.

The said bill titled “Historic Bipartisan Infrastructure Deal” in a statement published by the Biden administration on Wednesday will help raise billions of dollars from crypto taxation. The raised funds would be channelled towards boosting the economy by creating employment opportunities while adding 2 million jobs yearly for the next decade. Not only that, the new bill is geared towards enhancing the country’s competitiveness and sustainability.

The administration noted that its cost to boost the economy, as earlier said, would be settled with strengthening crypto taxation, which may usher in a new set of crypto-related regulations.

This is coming amid perceived China’s growing influence in the world, and concerns on climate change, and the need for the US to maintain its position as the strongest economy in the world.

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