Trump Could Net Big Tax Windfall in Crypto Bill Divestiture Plan, Bloomberg News Reports
Senators say the ethics addendum could let Trump defer capital gains taxes on crypto sales while forcing him to divest from related businesses.
- On Thursday, Bloomberg News reported that senators pitched a bipartisan ethics proposal to President Donald Trump to advance the Clarity Act in Congress, requiring him to divest from crypto-related businesses.
- Trump reported earning $1.4 billion from crypto ventures in 2025, prompting Key Senate Democrats to condition their support for the legislation on a strong ethics provision addressing political figures' crypto profits.
- Forced divestiture would allow the president to defer federal taxes on gains potentially for years, whereas without this provision Trump could be forced to immediately pay a 20 per cent capital gains tax on asset sales.
- Republican Senator Thom Tillis of North Carolina and Democratic Senator Ruben Gallego of Arizona negotiated the addendum, while Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick have already used similar tax deferral provisions.
- Senate Majority Leader John Thune and other senior Republicans are pushing for a procedural vote before the Senate's Aug recess, as the White House continues negotiating the ethics addendum with lawmakers.
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Trump could net big tax windfall in crypto bill divestiture plan: Reports
A bipartisan proposal for cryptocurrency legislation could grant President Trump a tax advantage by allowing the deferral of capital gains taxes on his digital asset portfolio. This bill stipulates that the president must separate from crypto-related enterprises. Democrats emphasize ethical standards to secure their backing, while the Clarity Act seeks to clarify regulatory oversight of the cryptocurrency industry.
Trump Could Net Big Tax Windfall in Crypto Bill Divestiture Plan
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WTVBTrump could net big tax windfall in crypto bill divestiture plan, Bloomberg News reports
Aug 6 : The bipartisan ethics proposal senators have pitched to President Donald Trump to get landmark crypto legislation over the line in Congress could trigger a significant tax benefit for the president, Bloomberg News reported on Thursday.The benefit will include the ability to defer capital gains levies
Trump on Crypto: It’s a Big Deal, We Must Beat China to the Punch
US President Donald Trump recently interviewed with Punchbowl News, where he discussed various topics, including the crypto market. Trump has hailed himself as the “Crypto President” in the past, supporting various pro-crypto initiatives and even establishing business ventures in crypto himself....
Clarity Act: Trump Could Defer Millions in Crypto Taxes
Why Could The Crypto Ethics Proposal Benefit Trump? A bipartisan ethics proposal designed to win President Donald Trump’s support for the Clarity Act could also give him a substantial personal tax advantage by requiring him to divest from crypto-related businesses. Sens. Thom Tillis, R-N.C., and Ruben Gallego, D-Ariz., sent Trump proposed ethics language last week that would require the president to sell interests connected to cryptocurrency bus…
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