David Sacks Rejects Taxes on Crypto Transactions
After the inaugural White House Crypto Summit, Crypto Czar David Sacks engaged in a discussion with American entrepreneur Jason Calacanis, during which Calacanis proposed a 0.01% tax on every cryptocurrency transaction within the United States.
He suggested that this levy be collected in the transaction’s native digital asset.
In his conversation with Sacks, Calacanis explained his reasoning for the tax, presenting it as a potential compromise to achieve regulatory clarity and mainstream acceptance for the crypto industry.
He argued that such a small fee could be a reasonable concession, with the funds going into a government-managed reserve.
As Calacanis presented this idea to the Trump administration’s Crypto Czar, he highlighted the potential for this approach to help integrate digital assets more effectively into the existing financial system.
However, Sacks remained skeptical, drawing a historical comparison to the introduction of income tax, which was initially intended to affect only a small group of Americans.
