Trump’s bill includes a 5% tax on remittances from non-U.S. Citizens, impacting over 40 million people, prompting criticism from countries significantly reliant on these funds, such as Mexico.
With the proposed tax raising concerns, analysts suggest that many may resort to cryptocurrencies to facilitate remittance transfers, thus classifying it as an alternative route to mitigate costs.
Currently, Bitcoin trades at 102,980 USD, facing bearish trends in a mixed market. While volumes indicate some selling pressure, support levels around 100,500 to 100,800 USD are critical for maintaining its bull trajectory.
Leave a Reply