Trump questions capital gains tax on Bitcoin if used as currency

U.S. President Donald Trump has stated that it is inappropriate to apply the same capital gains tax to Bitcoin (BTC) as other investment assets if it functions as a currency, BeInCrypto reported. Speaking to reporters on July 2, Trump questioned the validity of imposing capital gains tax on everyday payments if Bitcoin is effectively serving as money. He added that it is difficult to agree with the argument that a tax should be paid every time someone buys a coffee with BTC. Trump also emphasized that cryptocurrency is an important industry and that the U.S. must become the world leader in the field.