Recent speculation on X suggests that President Donald Trump may propose eliminating capital gains taxes on cryptocurrency sales.
Rumors circulating online indicate that an announcement could come as soon as Friday, though no official confirmation has been provided.
While the potential policy has sparked excitement among crypto investors, legal experts and analysts have pointed out a significant hurdle—such a tax change would require congressional approval.
Adam Cochran, a well-known crypto analyst, directly addressed the claims on Twitter, pushing back against suggestions that Trump could implement the policy unilaterally.
“The President can’t unilaterally change the tax code. Only Congress can,” Cochran tweeted. “It is one of the few Congressional powers expressly laid out in the Constitution.”
He went on to mock the idea of an executive order eliminating capital gains taxes, sarcastically comparing it to declaring himself a cupcake.
His argument underscores a fundamental aspect of U.S. governance: tax policy is legislated by Congress, not dictated by the President. While a President can advocate for tax changes and influence regulatory policy, capital gains tax reforms would require approval from both the House and Senate.
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