{"id":21862,"date":"2025-03-09T12:06:32","date_gmt":"2025-03-09T10:06:32","guid":{"rendered":"https:\/\/forklog.com\/en\/crypto-czar-opposes-new-taxes-for-bitcoin-reserve-funding\/"},"modified":"2025-03-09T12:06:32","modified_gmt":"2025-03-09T10:06:32","slug":"crypto-czar-opposes-new-taxes-for-bitcoin-reserve-funding","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-czar-opposes-new-taxes-for-bitcoin-reserve-funding\/","title":{"rendered":"‘Crypto Czar’ Opposes New Taxes for Bitcoin Reserve Funding"},"content":{"rendered":"

Appointed by President Donald Trump, ‘crypto czar’ David Sacks<\/a> has rejected the idea of taxing crypto transactions to fund the national bitcoin reserve. He made this statement on the All-In-One<\/a> podcast.<\/p>\n

Sacks reiterated key details about the strategic reserve of digital gold, outlined in Trump’s executive order<\/a>, emphasizing that replenishing this repository should occur without taxpayer expense.<\/p>\n

Podcast host Jason Calacanis proposed the idea of adding a ‘modest tax’ of 0.01% on all crypto transactions as a method to acquire ‘free’ coins for the budget. Sacks opposed the suggestion:<\/p>\n

\n

“That’s how taxes always start. They are described as very modest. You know, when the income tax started, it applied to only a thousand Americans, and lawmakers swore it would never be applied to the middle class.”<\/p>\n<\/blockquote>\n

The interlocutor noted that he “doesn’t much like the idea of new taxes,” even with promises that they won’t significantly impact people.<\/p>\n

However, while Sacks himself is not a proponent of additional levies, he does not rule out the possibility of such a measure being implemented in the future.<\/p>\n

Earlier, after the crypto summit at the White House on March 7, prices of most top-10 cryptocurrencies by market capitalization fell<\/a>, and the total market capitalization decreased by 5% within a day.<\/p>\n","protected":false},"excerpt":{"rendered":"

Appointed by President Donald Trump, ‘crypto czar’ David Sacks has rejected the idea of taxing crypto transactions to fund the national bitcoin reserve. He made this statement on the All-In-One podcast. Sacks reiterated key details about the strategic reserve of digital gold, outlined in Trump’s executive order, emphasizing that replenishing this repository should occur without […]<\/p>\n","protected":false},"author":1,"featured_media":21861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,991,558,26],"class_list":["post-21862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-donald-trump","tag-taxes","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21862"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21861"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}