The post John Deaton Raises Key Questions on U.S. Crypto Projects and Tax Exemptions appeared on BitcoinEthereumNews.com.

Pro-XRP lawyer John Deaton has raised critical questions regarding tax exemptions for U.S.-based cryptocurrency projects. His remarks focus on identifying which projects qualify for the proposed zero capital gains tax and the implications for companies with global affiliations. Crypto Lawyer John Deaton Raises Concerns Over U.S. Tax Policies In a recent tweet, John Deaton discussed the ambiguity surrounding U.S.-based cryptocurrency projects. He questioned whether projects with operations or foundations abroad, such as Solana and Tezos, would meet the requirements for tax exemptions. Solana Labs, headquartered in San Francisco, operates under the Solana Foundation based in Switzerland, while Tezos was developed by U.S.-based Arthur and Kathleen Breitman but is governed by the Switzerland-based Tezos Foundation. Deaton’s inquiry centers on whether such hybrid structures qualify as U.S.-based entities under the proposed tax policies. John Deaton also pointed to cryptocurrencies like XRP, XLM, HBAR, AVAX, and XCH, which may face fewer jurisdictional hurdles. These projects meet the criteria on the surface, potentially positioning them to benefit from the zero capital gains tax. Moreover, Deaton emphasized the potential for tax incentives to drive broader adoption of cryptocurrencies as corporate treasury assets. He questioned whether companies adopting digital assets like XRP, XLM, and HBAR would gain a competitive edge under the proposed zero capital gains tax policy. He also raised concerns about the treatment of foreign entities with U.S. operations, such as Hut 8, and their eligibility for tax benefits. More so, recently the pro-XRP lawyer highlighted four key objectives for the White House Crypto Council. He urged its members to focus on critical areas like SAB 121, the establishment of a strategic Bitcoin reserve, crypto tax payments, and overarching crypto taxation policies.  U.S. Crypto Companies and Mining Firms Could Reap Benefits John Deaton further explored how U.S.-based companies, including Ripple, Gemini, and ConsenSys, might…

---

Filed under: News - @ January 26, 2025 4:09 am