In Europe and the United States, the debate over increasing taxes on the wealthiest is growing again. Governments see it as a way out of public debt and the inequality that worsens each year. Advocates argue that it is the only way to fund public services. But critics are skeptical: they argue that these measures historically collect much less than politicians promise.

This tension is not new, but it resurfaces strongly in times of fiscal crisis. While some see redistribution as necessary, others warn of side effects: capital flight, less investment, fiscal competition between countries. For the crypto world, these macro movements matter: tax policies shape how capital flows into alternative assets, including blockchain.