TechFlow news — On January 26, Yat Siu, Chairman of Animoca Brands, commented on Trump's proposed plan to exempt U.S.-based cryptocurrencies from taxation. He pointed out several issues with the proposal: first, most token foundations are registered in Switzerland, the Cayman Islands, or Singapore; second, the origin of Bitcoin is unknown and the majority of mining occurs outside the United States; furthermore, decentralized blockchains are inherently borderless by nature.
Yat Siu emphasized that due to previous SEC regulations, nearly all U.S. institutions have issued tokens overseas. He suggested adopting inclusive tax incentives to attract foreign crypto enterprises to invest and build operations in the U.S., creating job opportunities, rather than implementing differentiated tax policies based solely on a token’s issuance location.
