Viewpoint: Harris' proposed unrealized capital gains tax will harm cryptocurrency investors

BlockBeats News: On October 3rd, Zac Townsend, CEO and co-founder of Among Us, stated that Harris' proposed unrealized capital gains tax will harm cryptocurrency investors. It is reported that the core of unrealized capital gains tax is to require individuals to pay taxes on the value-added portion of their cryptocurrency holdings, even if they have not made a single sale. AC pointed out that this bill is completely different from traditional tax principles, which only apply to the proceeds realized when assets are sold. And this plan will have devastating consequences for cryptocurrency investors and the broader economy, and undermine the intrinsic value of cryptocurrency as a store of value that is not controlled by any single government. Because it encourages large investors to sell assets to pay taxes. This kind of sell-off will lower the price of cryptocurrencies and affect the returns of daily investors, including those who only invest a small amount of money in order to improve the economic situation. （CoinDesk）