A U.S. bill has been proposed that would establish a strategic Bitcoin reserve and eliminate capital gains tax on Bitcoin transactions, according to Pluang. The proposal combines a government-held Bitcoin reserve with a tax-policy change affecting the use and transfer of the cryptocurrency.
A strategic reserve is generally a stockpile of an asset held for policy or national-interest purposes. In this case, the proposal would treat Bitcoin as an asset the United States could hold in reserve. Bitcoin is the largest and most widely known cryptocurrency, operating on a decentralized blockchain network without a central issuer.
The capital gains provision would remove tax on gains from Bitcoin transactions under the proposal. Capital gains taxes generally apply when an asset is sold or exchanged for more than its purchase price, meaning the change could affect how Bitcoin transactions are treated for tax purposes.
The bill would need to move through the U.S. legislative process before any proposed reserve or tax changes could take effect. Its introduction highlights continuing debate over how the United States should approach Bitcoin, including its role as an investment asset, payment method, and potential reserve holding.
