Yigit Taha OZTURK 
David Sacks, the White House crypto and AI czar, has opposed a proposed tax on cryptocurrency transactions, arguing it could become a burden for investors and slow down innovation in the crypto space.
Sacks Rejects 0.01% Transaction Tax on Crypto!
In a recent episode of the All-In Podcast, host Jason Calacanis suggested a 0.01% tax on every crypto transaction. The tax would apply whether a user is buying, selling, or transferring cryptocurrency. Sacks responded:
“That’s always how taxes start. They are described as being very modest. You know, when the income tax started, it only applied to like a thousand Americans, and the legislators swore up and down that it would never be applied to middle-class people.”
He continued:
“I don’t particularly like the idea of new taxes, even if it is promised that they won’t affect people very much. That sounds burdensome to me.”
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Many crypto investors criticized the idea, warning it would create unnecessary costs even for transfers between wallets owned by the same person.
The recent White House Crypto Summit did not present any official tax policies. However, the Trump administration has signaled support for major tax reform in the United States.
Trump Proposes Eliminating Income Tax and IRS!
President Donald Trump has proposed eliminating the federal income tax and replacing it with tariffs on imported goods. Commerce Secretary Howard Lutnick added that the IRS would be replaced by an “External Revenue Service.”
According to Dancing Numbers, the plan could save each American taxpayer at least $134,809, and possibly up to $325,561 if state income taxes are repealed as well.
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