Florida has introduced a legislative proposal aimed at eliminating capital gains taxes on Bitcoin transactions. If enacted, this would position Florida as one of the most crypto-friendly states in the U.S.

The proposed bill seeks to exempt capital gains taxes on Bitcoin, XRP, and traditional stock investments for state residents. Supporters argue that this move could boost innovation and attract crypto businesses to the state.

It’s important to note that while Florida does not impose a state income tax, federal capital gains taxes on cryptocurrency transactions still apply.

Analysts suggest that such regulatory shifts could positively influence Bitcoin’s market trajectory, potentially driving its price upward in the coming months.

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