Biden Firm on Rejecting Debt Deal Protecting Crypto Traders
TL;DR
President Joe Biden opposes a debt ceiling deal proposed by Republicans that would allegedly benefit crypto traders through tax-loss harvesting. The White House has proposed ending the mechanism for cryptocurrency transactions, which would add about $40 billion in tax revenue for the U.S. government. Republicans reject the proposal, claiming the U.S. debt rise is a "spending problem, not a revenue problem." If Congress fails to raise the debt ceiling, the U.S. could default as early as June 1.
- Biden won't accept debt deal protecting crypto traders — G7 Cointelegraph
- Biden Slams Wealthy Crypto Traders as U.S. Budget Talks Resume Decrypt
- Biden: I'm Not Willing to Strike a Deal With 'Crypto Traders' Cryptonews
- President Biden Takes Strong Stance: No Debt Deal Protecting Crypto Traders BSC NEWS
- Biden says he won’t agree to debt deal that protects crypto traders Invezz
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on Cointelegraph