Yat Siu: It is suggested to adopt more inclusive measures to attract foreign cryptocurrency companies to invest in the U.S., rather than implementing differentiated tax policies solely based on the location of token issuance

ChainCatcher news, Animoca Brands Chairman Yat Siu commented on Trump's plan to exempt domestic cryptocurrencies from taxes in the United States. He pointed out several issues with the plan: first, most token foundations are registered in Switzerland, the Cayman Islands, or Singapore; second, the origin of Bitcoin is unknown and most mining occurs outside the United States; furthermore, decentralized blockchains inherently possess a borderless nature.

Yat Siu emphasized that due to previous SEC regulations, American institutions have almost exclusively issued tokens abroad. He suggested attracting foreign crypto companies to invest and build in the U.S. through inclusive tax incentives to create job opportunities, rather than implementing differentiated tax policies solely based on the location of token issuance.