The state of Missouri in the United States will suspend the collection of personal capital gains tax on cryptocurrency earnings this year

ChainCatcher news, according to Fortune magazine, the bill that received final approval in Missouri on Wednesday will suspend the personal capital gains tax this year, making the state the first in the U.S. to eliminate capital gains income tax. Investors profiting from the sale of stocks, real estate, and crypto assets will be exempt from income tax. If state government revenue continues to grow, the corporate capital gains tax may eventually be eliminated.

Capital gains refer to the profits earned from the sale of assets such as stocks, cryptocurrencies, or real estate. The federal government imposes a long-term capital gains tax on assets held for more than a year, with rates lower than ordinary income.