Odaily News David Sacks explicitly opposes the proposal to tax crypto transactions to supplement the United States' strategic Bitcoin reserves, arguing that such taxes often start out "moderately" but tend to gradually expand to a wider range, such as income tax that initially only targets a minority of groups. Although the Trump administration has proposed replacing federal income tax with import tariffs, Sacks still warned that crypto transaction taxes could increase the burden on users - the current plan proposes a 0.01% tax rate on each transaction, even covering transfers between the same user addresses, which has sparked strong criticism from investors. According to research data, the abolition of income tax could save more than $130,000 per person, but the details of the tax reform were not clarified at the White House's recent crypto summit. (Cointelegraph)