BlockBeats news, on October 3, Among Us CEO and co-founder Zac Townsend said that the unrealized capital gains tax proposed by Harris will harm cryptocurrency investors.
It is reported that the core of the unrealized capital gains tax is to require individuals to pay tax on the increase in value of their cryptocurrency holdings, even if they have not made a single sale. ac noted that the bill differs from traditional tax principles, which only apply to gains realized when an asset is sold.
This plan would have devastating consequences for cryptocurrency investors and the broader economy, and undermine the inherent value of cryptocurrencies as a store of value that is not controlled by any single government. Because it encourages large investors to sell off assets to pay taxes. This sell-off will depress cryptocurrency prices and impact returns for everyday investors, including those who invest only small amounts of money in hopes of improving economic conditions. (CoinDesk)
