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How will the proposed 5% Remittance Tax Make More People Use Crypto?

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by COINS NEWS 7 Views

Basically, the title. The tax bill in works has a proposal to tax remittances from US @ 5%, implemented through remittance providers like Western Union, Remitly etc. Citizens would get back the amount as credit (it still is discouraging).

I can imagine folks trying to move away from the incumbent providers but don't understand how Crypto can fill this gap (as some commentators in media are mentioning). Won't even for crypto providers moving from account in one country to another count as remittance? TIA

submitted by /u/BestKey
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