• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Launch of TRUMP: Legal and Tax Issues Explored

user avatar

by Giorgi Kostiuk

6 months ago


Donald Trump's meme coin, launched prior to his inauguration, has stirred interest in the crypto industry. However, it is now facing legal and tax scrutiny.

Legal Scrutiny of TRUMP

The TRUMP meme coin raises questions about its classification as a security. The US Securities and Exchange Commission (SEC) considers digital assets offered through ICOs as securities if they meet the Howey Test criteria. However, the TRUMP team stated on their website that the coin is not a security and does not promise future profits. The SEC has not yet commented on TRUMP.

Tax Implications of Distribution

According to US tax laws, profits from cryptocurrency investments are subject to capital gains tax. Trump's team holds 80% of the TRUMP supply, which will be unlocked over three years. There is a dilemma whether the unlocking event is taxable. Tax applies when assets are sold or traded. Once TRUMP is traded or exchanged, it will incur capital gains tax based on the market price.

Political Donation Risks

TRUMP is seen as a potential means for political donations, which could breach strict US laws on transparency and limits. While there is no evidence of coins being used for political donations, the concept itself raises concerns.

The launch of TRUMP raises complex questions about legal and tax obligations, requiring careful analysis, and may have significant political ramifications.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Largest Bitcoin Transfer from Satoshi Era: What Happened?

chest

An overview of the movement of 80,000 BTC from dormant wallets and its impact on the market.

user avatarGiorgi Kostiuk

Record High in Ethereum Open Interest: What Does It Mean?

chest

Ethereum Open Interest has set a new record, reflecting growing interest in ETH futures. Discover the implications of this event.

user avatarGiorgi Kostiuk

K Wave Media Secures $1 Billion for Bitcoin Accumulation Amid Inflation Concerns

chest

K Wave Media has secured $1 billion for its Bitcoin treasury strategy, reflecting a growing trend of companies allocating funds to digital assets.

user avatarGiorgi Kostiuk

LittlePepe Attracts Investor Attention Amid Successful Presale

chest

LittlePepe concludes its presale phase, raising $4.475 million, reflecting strong interest in meme coins.

user avatarGiorgi Kostiuk

Nicholas Truglia: Extended Prison Sentence for Failure to Repay Restitution

chest

Nicholas Truglia faces a 12-year prison sentence for failing to repay over $20 million to victim Michael Terpin.

user avatarGiorgi Kostiuk

Historic NRW.BANK Blockchain Bond Issuance: Implications for Finance

chest

NRW.BANK has issued blockchain bonds worth €100 million, signaling growing institutional adoption of cryptocurrencies.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.