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After a stablecoin, token digital, a pair of memecoins and a Bitcoin mining platform, the Trump family is now looking to expand its cryptographic empire with a debit card.
Crypto Venture World Financial of the Financial Liberty Family is launching a debit card as soon as this year. Trump’s children, Donald Jr., Eric and Barron, appear as active co -founders of the company, while the president was “emeritus co -founder” until he assumed the position.
“We are definitely implementing a debit card that will unite … cryptography assets with daily expenditure … We will launch a pilot program here in the next quarter, and that debit card will be live (in) Q4 or Q1 26,” said CEO Zach Witkoff at a Crypteo conference in Singapore on Wednesday, with Cofounder Donald Trump JR. next to him. Zach’s father is Steve Witkoff, Trump’s special envoy to the Middle East, Russian negotiatorand general repair.
Cryptographic debit cards are not a new concept. The two largest payment networks in the world, Visa and Mastercard, both offer cards related to cryptography in association with several cryptography trade platforms. However, they have interesting tax implications: each transaction it makes is subject to tax (no matter how small), but it can also end with Tax cancellations. If the fair market value of its cryptocurrency is lower than it was at the time it bought it, users can claim a loss of capital to reduce taxes during the year. That is not a distant reality, considering how volatile it tends to be cryptocurrency.
World Liberty Financial has existed for a whole year to advance its declared objective of “decentralizing finances”, also known as intermediaries as banks, so that financial transactions can be carried out with less supervision.
Cryptography is usually under a more regulatory scrutiny, but that was then, and this is now. Since Trump assumed the position, he has made a mission legitimize the place of cryptocurrency in the US financial system.
According to Trump, the Tricitis Stock Exchange and Securities Commission is now revealing the regulation and cryptography projects to make the United States “the world’s cryptographic capital.” Some application actions against cryptographic companies such as Coinbase, Crypto.com and Kraken were eliminated. And, in response, the industry generally operates as if the good times will never end.
Trump also led legislation that legitimized the role of Stablcoins and signed it in July, only a couple of months after his family’s cryptocurrencies debuted his own USD1 stablecoin.
“My father was the first guy to run as a kind of president Pro-Crypto,” said Donald Trump Jr. at the conference on Wednesday.
Although Trump once was a cryptopeptic cryptopic, his new belief, and the regulatory power to complement it, only made his family richer than ever.
Since the launch of World Liberty Financial, the Trump family has won around $ 500 million only with that project, according to Reuters calculations Trump’s participation and his children in World Liberty Financial reached $ 5 billion after the company’s digital currency began operating at the beginning of last month.
