Stablecoins and taxes: Shaping the future of U.S. crypto policy

​A real storm has erupted around stablecoins in the United States. Due to new legislation, SEC recommendations, and the potential introduction of zero tax on cryptocurrency, stablecoins have become the focal point of political and economic debates.

The outcome of these battles could have long-term effects on the cryptocurrency market, the global competitiveness of the U.S., and the future of financial technologies worldwide.But is there a political interest in this, and what benefits could individual players, such as U.S. President Donald Trump and his cryptocurrency projects, potentially gain?

The new STABLE Act: How it transforms the stablecoin market

The recent passage of the STABLE Act in the U.S. marks a significant step in regulating stablecoins. This law aims to establish a clear regulatory framework for dollar-backed cryptocurrencies, ensuring stability and transparency in financial transactions.

The STABLE Act introduces several key provisions. First, it imposes strict reserve requirements to maintain the value of stablecoins. This ensures that tokens remain pegged to the U.S. dollar and serve as a reliable tool for transactions and investments.

Second, the law includes measures to prevent financial crimes, requiring issuers to comply with AML (Anti-Money Laundering) standards. This is designed to protect users and stabilize the market.

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The act emerged from extensive discussions in Congress, reflecting bipartisan interests. Its passage represents a step toward strengthening U.S. competitiveness in blockchain technology and cryptocurrency.

Recommendations from the Securities and Exchange Commission

An equally important step in regulating cryptocurrencies was the update of recommendations from the U.S. Securities and Exchange Commission (SEC). In the new documents, the SEC clarifies that "covered stablecoins," which are pegged one-to-one with the U.S. dollar, fully backed by liquid, low-risk assets, and offering redemption on demand, will not be considered securities.

This important change allows stablecoins to avoid the strict requirements applied to other crypto-assets, making their issuance much simpler and more accessible for companies.

This step is crucial for the development of the stablecoin market, as it means they can now be used as digital equivalents of the dollar without the need to comply with stringent securities laws. It also simplifies their use for investors, reducing legal risks and making the market more transparent.

Cryptocurrency taxation: The prospect of a 0% tax

One of the most discussed and pressing issues in the cryptocurrency space today is the potential introduction of a 0% tax on cryptocurrency earnings in the U.S. in 2025. Rumors of such an initiative have been actively circulating on social media, where many users are publicly calling on President Donald Trump to implement a 0% tax on cryptocurrency.

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In response to these calls, an increasing number of experts and investors see this move as a significant catalyst for the further development of the cryptocurrency market.

After Trump's victory in the 2024 election, interest in the topic of cryptocurrency taxation surged sharply. According to search engine data, the number of queries related to "cryptocurrency tax" increased by 200%, signaling strong public interest. This trend continues to grow, especially in recent days as rumors of possible tax reforms gained new traction.

Cryptocurrency taxation experts from CoinLedger examined the question of how realistic the prospect of implementing a 0% tax on cryptocurrency profits is. If such a reform were to be realized, it could significantly change the rules of the game in cryptocurrency markets.

Currently, U.S. legislation requires citizens to report any profits or losses from cryptocurrency transactions, applying standard capital gains tax rates: from 10% to 37% for short-term investments and from 0% to 20% for long-term investments. Failure to comply with these requirements can result in serious legal consequences, including fines and, in some cases, imprisonment.

Exemption from taxation on cryptocurrency earnings would be an important step in stimulating trading and investment in this sector. In light of the current downturn in cryptocurrency markets, introducing a 0% tax rate would be an attractive tool for reviving the industry. Such a decision could provide a powerful growth stimulus for the crypto community and attract new participants.

Donald Trump's advantage

However, it is expected that the 0% tax rate would only apply to cryptocurrencies issued in the U.S., which could provide significant advantages for American crypto projects. In particular, such a tax regime could be beneficial for new initiatives, including Donald Trump's project — the stablecoin USD1, issued by his company World Liberty Financial.

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If cryptocurrencies created in the U.S. are protected by the 0% tax rate, it would serve as a powerful incentive for further development and popularization of USD1, giving the project a significant competitive advantage in the global market.

Moreover, this move could attract investors seeking to take advantage of tax benefits, as well as increase the appeal of the U.S. as a hub for cryptocurrency startups. In a climate where many countries are tightening regulations and raising tax rates on cryptocurrencies, such initiatives could become a crucial element of Trump's economic and political strategy, reinforcing his position as a proponent of digital finance.

Thus, while the 0% tax rate has the potential to stimulate growth in the U.S. cryptocurrency sector, its introduction would make the market more vulnerable to external fluctuations. The imposition of higher taxes on foreign cryptocurrencies could lead to significant losses in the markets and trigger a wave of instability.

Conclusion

The situation surrounding stablecoins in the U.S. continues to evolve, with key steps such as the adoption of the STABLE Act, recommendations from the Securities and Exchange Commission, and the potential introduction of a 0% tax on cryptocurrency opening new prospects for the crypto market.

However, it is important to remember that regulating cryptocurrencies is not only an opportunity for growth but also a challenge for market stability. Tax incentives may lead to unintended consequences, such as market instability and manipulation. Therefore, it is crucial for policymakers and regulators to maintain a balance between fostering innovation and safeguarding financial stability.