Elon Musk Criticizes Trump’s Tax Bill, Claims It Undermines Dogecoin and Crypto Progress

Report by Safarti Tarjuman International Desk

Elon Musk has publicly criticized former U.S. President Donald Trump’s proposed tax plan, calling it detrimental to the growth of cryptocurrency, particularly Dogecoin. Musk referred to Trump’s economic proposal—marketed as a “big beautiful bill”—as a step backward for digital innovation.

In a post shared on X, Musk expressed concerns that the tax revisions in Trump’s plan would undermine ongoing measures aimed at integrating Dogecoin and similar cryptocurrencies into mainstream financial systems. While Trump’s plan centers on aggressive tax cuts and incentives for traditional industries, it reportedly lacks provisions that support the emerging crypto sector.

“Trump’s ‘big beautiful bill’ might help Wall Street, but it crushes digital innovation,” Musk wrote. “Dogecoin adoption needs clarity and support, not outdated tax structures.”

Musk has been a longtime supporter of Dogecoin and has previously hinted at integrating the cryptocurrency into several of his ventures, including payment systems for Tesla and X (formerly Twitter).

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Although the Trump campaign has yet to directly respond, some of the proposed bill’s tax clauses have already drawn criticism from the broader crypto community, who fear increased capital gains burdens and regulatory uncertainty.

Musk’s remarks signal renewed tension between the tech billionaire and the former president, both of whom remain influential figures in American public discourse and policy debates.