Ivan On Tech – BITCOIN: EMERGENCY FOR ALL HOLDERS! (25.04.2024 Summary)

Ivan On Tech – BITCOIN: EMERGENCY FOR ALL HOLDERS! (25.04.2024 Summary)

In his latest stream, Ivan shares that some concerning developments are happening in the United States that could potentially impact Bitcoin holders and the crypto market.

Here’s a summary of what we can expect:

  • Unrealized Capital Gains Tax: The Biden administration is proposing to tax unrealized capital gains at 25% annually. This means that even if you haven’t sold your Bitcoin or other cryptocurrencies, you would be taxed on the potential gains each year. Ivan warns that this could lead to significant sell-off pressure as people would be forced to sell a portion of their holdings to pay the tax.

  • Increased Capital Gains Tax: In addition to the unrealized gains tax, Biden is also proposing to increase the capital gains tax rate to 44% for high-income individuals. This would make it even more expensive to realize gains from cryptocurrency investments.

  • Crackdown on Privacy Protocols: The arrest of developers behind the Samurai Wallet, a Bitcoin privacy tool, signals a broader crackdown on privacy protocols by the government. Ivan suggests that developers of such protocols could be at risk of legal action, which could stifle innovation in this area.

  • Mass Surveillance: Ivan highlights concerns about the IRS using AI to access bank accounts of American citizens without proper legal oversight, leading to potential violations of privacy and civil liberties.

Overall, Ivan paints a grim picture of an increasingly hostile environment for cryptocurrency holders and developers in the United States