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Biden won’t accept debt deal protecting crypto traders — G7

United States President Joe Biden expressed opposition to a debt ceiling agreement with Republican leaders that would allegedly benefit crypto traders. Attending the Group of Seven (G7) Summit, Biden reportedly classified Republicans’ proposed terms as “unacceptable” during a press conference.

The alleged protections for crypto traders refer to tax-loss harvesting. According to the Washington Post, there’s an ongoing discussion between the White House and Republican leaders about blocking the mechanism for cryptocurrency transactions.

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