U.S. government cryptocurrency chief opposes proposed cryptocurrency transaction tax

The White House's director of cryptocurrency and AI policy, David Sacks, has spoken out against a proposal to tax cryptocurrency transactions.
According to Cointelegraph, during a recent appearance by David Sachs on the All In podcast,
Podcast host Jason Calacanis
Calacanis said he plans to increase the U.S. strategic Bitcoin reserve and cryptocurrency holdings by investing in cryptocurrency transactions.
He proposed a 0.01% tax. The proposed tax would be levied on each asset transferred, acquired, or sold. David Sachs responded by saying, "Taxes are always
"When the income tax was first introduced, it only applied to about 1,000 Americans, and lawmakers had to expand it to the middle class," he said.
"Even if they promised that it would not have a big impact on people, I am not very happy about introducing new taxes. This feels like a burden," he added.
Cryptocurrency investors have strongly opposed the idea, especially the idea of taxing the transfer of assets between wallets owned by the same individual.
No specific tax policy was mentioned at the recent White House Cryptocurrency Summit, but the Trump administration has been pushing for major tax reform at the federal level.
This shows support for the