Dogecoin Foundation challenges the policy rumored to eliminate capital gains taxes on US-issued cryptos.
The foundation argues that ignoring coins backed by non-US-based companies would result in choosing network winners based on policy and preference, potentially leading to crony capitalism.
Elimination of capital gains taxes could benefit Cardano (ADA), Solana (SOL), and Constellation (DAG) as investors may be driven towards these assets.
The policy is aimed at pushing investors from traditional markets to crypto and could trigger a massive capital flow into tax-free crypto projects in the US.