'Watchdog Warns Crypto Bill Could Be Major Tax Giveaway to Ultrarich--Including Trump Family'
"A government watchdog is warning that new cryptocurrency policies being considered in the House of Representatives would be a major boon to the ultrawealthy, including President Donald Trump’s family."
"In an analysis published on Monday, the Revolving Door Project (RDP) highlighted new crypto-related tax bills being discussed in the House Ways and Means Committee, including one that 'would create a functional subsidy for cryptocurrency firms by allowing them to defer taxes owed on their mined coins indefinitely and without interest, so long as the firms do not sell the coins.' "
"This would allow coin owners to raise money by borrowing against these assets without having paid a cent of taxes on them, the analysis explains, which could be particularly beneficial for Trump’s two eldest sons."
“ 'Eric and Donald Trump Jr. reportedly hold a 20% stake in the bitcoin mining firm American Bitcoin, which mined 817 bitcoin in Q1 of 2026 alone,' RDP writes. 'At current prices, this represents a value of more than $50 million, while the company has stated that it already intends to hold assets it mines. If passed, this loophole could mean millions of dollars in taxes owed by the Trump sons’ firm could be deferred endlessly.' "
Continued at link:
https://www.commondreams.org/news/house-crypto-bill-analysis