No Tax on XLM | User Insights Spark Controversy
A growing coalition of people is pushing for tax exemptions on U.S.-based cryptocurrency projects, particularly XLM. With the deadline approaching for ISO20022 compliance, the atmosphere is charged with excitement and debate.
The XLM Momentum: An 80% Surge
Recent developments have fueled a bullish sentiment for XLM, which is reportedly up over 80% since Friday, prior to the deadlines relevant to ISO20022. Some members in the community assert that the surge is influenced more by PayPal news than ISO20022.
"It’s up over 80% since Friday, not just the ISO 20022 news," one forum participant noted, countering claims about compliance's impact.
The community is active in rallying support, urging others to reach out to representatives about tax-free status for compliant cryptocurrencies. Many anticipate a new all-time high (ATH) this year, reflecting a broader desire for favorable regulations.
Mixed Reactions in the Community
Recent comments showcase varied perspectives from the community, revealing some important insights:
Support for Compliance: "Yes, my favorite cryptocurrencies are the compliant ones," highlighted a user, reinforcing the significance of regulation.
Skepticism About Feasibility: A different voice cautioned that while tax exemptions would be a "game-changer," achieving this might face challenges due to regulatory constraints aimed at maintaining revenue streams.
Strong Investment Commitment: Another enthusiast shared, "I was all in at .25 USD!!" underlining the willingness to hold through volatility.
Optimism Coupled with Caution
While the overall sentiment leans towards optimism, it is balanced with caution. Community members recognize that favorable regulations might be slow to materialize, but they persist in their calls for compliance.
Key Insights:
🚀 XLM has surged over 80% since Friday, raising hopes among investors.
💬 "At the end of the day, markets reward patience plus preparation" - echoed sentiments noted in forums.
📈 Continued bullish trends could lead XLM to a new ATH as the community rallies together.
Curiously, amid the talk of regulations, the community remains wary of the slow pace of change. The drive for compliant cryptocurrencies stands as a crucial motivator for many investors who hope for clear guidelines to navigate future decisions.
What’s Next for XLM and Taxation?
Prospects for XLM tax exemptions have a decent shot, as the crypto community continues to advocate for favorable regulations. Experts suggest there's a 60% chance the proposal will be discussed in Congress this week, especially as XLM aligns with evolving compliance standards like ISO20022.
As the stakes intensify, the question remains: will the U.S. respond to these calls from the crypto community? Time will tell if this push facilitates swift regulatory changes or if it prolongs the quest for tax clarity.