December 5, 2022
Better Regulations Needed for Stopping Crypto Tax Evaders

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It has become much more convenient to spend crypto. The latest instance in this respect deals with the well-known crypto platform named FTX which has collaborated with Visa (a prominent payment firm) to introduce debit cards across forty countries around the world.

With this move, the consumers of FTX will be able to recompense for services and goods via the utilization of debit cards with no charges.

FTX’s Collaboration with Visa Aims to Offer Crypto Payments across 40 Countries

Apart from that, the ownership of the card is without any cost, as per the website of the venue. The CEO of the firm, Sam Bankman-Fried – also known as a very influential figure within the crypto industry – has often expressed an intention to launch a debit card to operate under the FTX crypto exchange.

The decision of his firm to collaborate with Visa – rather than the Lightning Network or other such rails for crypto payments – is in line with his opinion about the primary crypto token’s future.

He says that Bitcoin is not beneficial when it comes to the networks of payments. The FTX token, FTX trading venue’s local cryptocurrency, witnessed an upsurge of nearly seven percent, touching the high figure of up to $25.62.

The all-time high of the token is slightly off, nonetheless, it is at the point of nearly $80. In the words of Visa, the respective development would compete with the recent forays of their rival Mastercard in the crypto space.

Vasant Prabhu, the chief financial officer at the venue – while citing this year’s bear market – stated that although the values of the crypto tokens have gone through heavy losses, a gradually increasing interest is still being seen in the crypto world.

FTX Eyes Its Expansion throughout European and Asian Markets

FTX, which has in advance launched the debit card service in the US, targets at facilitating the consumers to carry out crypto transfers with no requirement to be a part of the present disturbances with the provision of straight transfers and elimination of the requirement for moving the holdings of the consumers out of the exchange venue.

After the current step, FTX’s attention will be diverted to the markets within the European zone by the denouement of the present year. While the conclusive move will deal with the Asian market to take place in the coming year.


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