Florida Introduces Bill to Eliminate Capital Gains Taxes on Bitcoin and Other Assets
While Bitcoin reserve studies continue in the USA, a new move came from Florida, one of the largest states in the country.
Accordingly, Florida has introduced a bill to eliminate capital gains taxes on Bitcoin (BTC), XRP, and stocks.
If the proposed bill passes, Florida residents will be exempt from capital gains taxes on all transactions made with BTC, XRP, or stocks.
Florida aims to become the first US state to offer a zero crypto capital gains tax, and the move is seen as part of an effort to position Florida as a hub for digital innovation and investment.
While the aim of the proposal was stated to increase the adoption of cryptocurrencies and attract investors, it was stated that only the state tax was removed and federal capital gains taxes would still apply.
*This is not investment advice.
