Cardano Blockchain and I.O.G. founder Charles Hoskin took to Twitter to mock the current U.S. taxation system and how it is being taxed. He also shared a meme involving the I.R.S. and how the meme mocks their proposed tax laws.
Currently, crypto can be taxed from 10-37% if held for less than a year. This has angered many people since the U.S.A. still hasn’t cleared its stance on these new-age currencies.
On top of that, Hoskinson is also angered by the crypto-taxing initiative that U.S. senators attempted to pass. The 1 trillion dollar infrastructure bill was supposed to be used to fund various projects all over the country.
Even John Lennon’s son Sean Ono Lennon supported Hoskinson and showed his allegiance with a series of tweets. He said that the bill would cripple the progress that the crypto industry has made in the last few years.
The war on crypto is far from over, and investors and other blockchain experts are rallying war cries already. They are up in arms and ready to face any impositions and regulations that may be suggested by the U.S. government in the near future.
Crypto is a corruption-free new-age tech that decentralizes finances itself. Many people have embraced the concept and become early adopters of the thing. It gets the regulatory body out of the way and promotes more transparency. Since it cannot be manipulated by bigger investors, it has become really popular amongst people.
