Right after President-Elect Donald Trump assumed role at the office, the internet started brimming with fake claims and misinformation related to cryptocurrencies and Trump, given the popular support Trump received from the crypto community during his election campaign.
Recently, a tweet on X (formerly Twitter) went viral, that stated President Trump has radical plans for Bitcoin and other cryptocurrencies.
The post stated, “President Trump has informed advisors of his intention to eliminate all capital gains taxes on Bitcoin & Stocks.” As per the viral post, no tax law changes will be required as President Trump is committed to stopping any and all gains in asset prices via tariff policy.
The Crypto Times did a fact check of the viral claims made regarding Trump wanting to abolish capital gains tax on Bitcoin and other cryptocurrencies. The claims made by X user are not corroborated by any reputable news media source nor any other online findings support the so-called President Trump’s policy to scrap crypto tax.
Moreover, an official confirmation of President Trump pursuing this particular policy objective regarding Bitcoin and stocks does not appear in any web results. Rather they show Trump’s previous stance on capital gain taxation yet fail to mention any plan to remove capital gains taxation of Bitcoin and stocks through tariff policies on February 09, 2025.
Also, the tweet describes an unusual method which uses tariffs to block asset price growth. International trade policy mainly uses tariffs to protect domestic industries through import taxes while concurrently avoiding modifications to domestic asset prices and tax policies. The absence of substantiation together with a source in the tweet and its replies contributes to users’ doubts about the statement.
The present analysis indicates that information from the tweet needs verification because official sources and credible reporting are required for confirmation. The information carries elements of speculation together with wishful thinking but lacks official confirmation about any policy transformation. All available evidence indicates the tweet information requires careful evaluation until credible sources establish this tax policy through verified reports.
Also Read: Beware of Fake Memecoins of Celebs Launched by Scammers
