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The American cryptocurrency exchange Kraken has announced its intention to sponsor the proposed “Trump Accounts” for every child born in Wyoming in 2026.
CEO of Kraken, Arjun Sethi, expressed that the exchange aims to assist Wyoming families in building long-term savings and enhancing the American equivalent of “maternal capital.” Kraken’s headquarters is located in Wyoming. The exchange did not specify how it plans to fund the initiative: whether in digital assets or in dollars.
The Trump Account savings program offers benefits to working families. Under this program, the U.S. Treasury allocates $1,000 for each child born before 2028. Parents are allowed to contribute to the account, but the funds can only be accessed when the child turns 18, after which the money can be used for education, purchasing a home, or starting a business.
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Republican Senator from Wyoming, Cynthia Lummis, stated during a speech to local officials that thanks to Kraken’s investments, children in the state will have greater financial opportunities.
In November, elections for the Senate and the House of Representatives will take place in Wyoming and several other U.S. states.
In January, Lummis introduced a bill aimed at clarifying blockchain regulation, intended to determine whether the development of decentralized software constitutes financial activity. Lummis asserts that coding is not related to managing client assets.
