How Donald Trump's re-election impacts the UK's crypto market

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is the UK losing the chance for crypto
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to flourish last week Eric Trump the son
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of President Donald Trump teased the
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idea of a zero crypto tax policy for us
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cryptocurrencies however the proposal
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would only eliminate capital gains tax
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for cryptocurrency companies operating
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in the United States with offshore
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crypto projects serving us users paying
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a 30% capital gains tax though the
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proposal has not yet received
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legislative support the influence that
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Eric Trump has on his father has markets
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worried with us-based cryptocurrencies
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dropping quickly in response radex one
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of the largest uk-based cryptocurrencies
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is down by more than half over the last
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month and all of the top UK crypto
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tokens have fallen in the last week from
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the news other crypto-friendly proposals
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from Trump on the campaign Trail such as
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a Bitcoin Reserve law or a more friendly
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regulatory regime continue to be touted
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by us lawmakers Bitcoin spot ETFs which
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aband in the UK also keep seeing money
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flowing in with the largest Bitcoin ETF
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being black rocks I shares Bitcoin trust
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with $ 57.9 billion in assets while this
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might be good news for us-based
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cryptocurrencies it isn't for the UK the
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UK government has failed to lure Venture
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Capital firms with Promises of a pro
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crypto regime with investors instead
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choosing to stay in the US to focus on
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the crypto Market there while previous
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City Minister Bim aalami publicly Allied
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himself with Pro crypto regulation his
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replacement tulip sadique failed to make
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the sector a priority allegedly
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canceling several meetings with crypto
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companies crypto firms continue to flock
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to the US and with progress on the
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digital currency regulation in the UK
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stalling the trend is likely to continue
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do you think that the UK is at risk of
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losing crypto companies to the US let us
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know in the comments and for more
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updates about crypto and regulation in
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the UK make sure to follow cityam

How Donald Trump's re-election impacts the UK's crypto market

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How Donald Trump's re-election impacts the UK's crypto market

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