One of the biggest breaks for crypto could be the possible elimination of the Internal Revenue Service. At least, this is the proposal being pushed by a US lawmaker.

Rep. Earl “Buddy” Carter has sparked controversy with his latest plan to get rid of the IRS and replace the current US tax law with a national consumption tax.

This campaign, known as the Fair Tax Act, seeks to simplify taxation by removing a variety of taxes, including personal and corporate income taxes, payroll taxes, and the death tax. Instead, a single consumption tax would be imposed, substantially altering how Americans pay to federal revenues.

A Bold Move For Crypto & Tax Reform

The Fair Tax Act was introduced on January 9, 2025, and has already…