BlockBeats News, May 21st, the United States recently proposed a 5% tax on international remittances for non-U.S. residents, set to take effect at the end of May 2025. This policy covers individuals working in the U.S. but not as residents, including green card holders and holders of various work and student visas. Regardless of the purpose of the remittance, the corresponding tax must be paid. This move aims to raise billions of dollars in federal government revenue.The tax will be directly deducted at the financial institution level, affecting traditional cross-border payment channels such as Western Union and PayPal. Once the policy is implemented, it may encourage some users to seek more flexible and cost-effective remittance methods, with digital currencies, especially stablecoin remittance platforms like USDT, expected to benefit. As a multi-asset transaction wallet, BiyaPay supports instant exchange between 30 fiat currencies and 200 digital currencies, meeting diverse cross-border fund transfer needs and providing users with convenient access to U.S. and Hong Kong stocks, as well as digital asset investments.From a global perspective, this tax has a limited impact on remittances to India due to the relatively low share of remittances in GDP and the fact that most Indian immigrants in the U.S. are high-income white-collar workers with strong financial capabilities. Conversely, it has a greater impact on some Latin American countries that rely on remittances as a major source of foreign exchange, which may lead to a decrease in remittance volume and affect the local economy.

Overall, this move reflects a trend in the U.S. immigration policy of shifting financial burdens, which may in the short term drive further popularization and application of digital currency remittance channels. Users can follow the BiyaPay platform and utilize the USDT 1:1 exchange to conveniently participate in cross-border fund transfers and investments.