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TRJLA Accepts Cryptocurrency for LA Downtown Mixed-Use Project

2024-12-04

In the dynamic landscape of the digital economy, financing plays a crucial role in driving innovation. TRJLA LLC, a prominent real estate development company based in Los Angeles, has taken a significant step by accepting cryptocurrency for transactions. This move not only showcases their commitment to staying at the forefront of technological advancements but also provides flexible investment opportunities.

Unlock the Potential of Cryptocurrency in Real Estate Finance

Acceptance of Cryptocurrency: A Game-Changer in Real Estate

TRJLA LLC, a privately-held real estate development company, has made headlines by accepting various cryptocurrencies such as Bitcoin, Ethereum, XRP, and Solana. This acceptance can be facilitated through direct wallet-to-wallet transactions or by utilizing third-party service providers. The company's decision to integrate cryptocurrency into its investment processes is a testament to their forward-thinking approach and their belief in the transformative power of digital currencies.In today's evolving digital economy, traditional financing methods are being challenged, and innovative solutions are emerging. By accepting cryptocurrency, TRJLA LLC is positioning itself as a leader in real estate finance, offering investors a new and exciting avenue for investment. This move not only expands the company's reach but also opens up new possibilities for collaboration and growth.

Financing Initiative: Driving Innovation in Real Estate

Joseph Chang, the Co-Founder & CFO of TRJLA LLC, emphasizes the significance of this financing initiative. He states, "This financing initiative underscores the commitment to innovation and provides flexible investment opportunities in the evolving digital economy. By integrating cryptocurrency into its investment processes, TRJLA moves to the forefront of a transformative shift in real estate finance."The company's decision to accept cryptocurrency is not just a trend but a strategic move that aligns with the changing landscape of the real estate industry. It allows for faster and more efficient transactions, reducing the time and costs associated with traditional financing methods. Additionally, it provides investors with the opportunity to diversify their portfolios and participate in the growth of the digital economy.

Inviting Investors: Capitalizing on the 2028 Summer Olympics

TRJLA LLC is inviting cryptocurrency (and traditional cash) investors to participate in the next vertical development phase of their project. By completing advanced drawings and value engineering, construction is set to commence in 2026. The stabilization of the project is perfectly timed to capitalize on the energy and economic uplift from the 2028 Summer Olympics in Los Angeles.This large-scale podium project in Chinatown, which features 411 residential units and 17,140 square feet of commercial space, is expected to invigorate the community with vibrant living and shopping. The building offers generous amenities such as a podium pool, a pocket park with a dog run, and a rooftop gymnasium and deck. It also anticipates future trends such as micromobility and autonomous driving, ensuring that it remains relevant in the evolving urban landscape.

Strategic Location: Connecting Downtown Los Angeles

Situated at the gateway of Downtown Los Angeles, the project enjoys immediate access to 3 major freeways, a Gold Line Station, and LA State Historic Park. This strategic location provides excellent connectivity and accessibility, making it an attractive investment opportunity. With abundant natural light from two courtyards and multiple levels of lush greenery, the modern design with enhanced colors and materials fits well with the neighborhood vibe.The project's street frontage of around 500 feet provides ample space for retail and outdoor seating, adding to its appeal. As Downtown Los Angeles is expected to experience a real estate development boom cycle in the coming years, driven by the 2028 Summer Olympics and the Los Angeles Aerial Rapid Transit gondola project, this project is well-positioned to benefit from the increased demand.

Looking Ahead: The Future of Real Estate in Los Angeles

In the future, Downtown Los Angeles is set to witness a significant growth in real estate development. The 2028 Summer Olympics and the Los Angeles Aerial Rapid Transit gondola project are expected to bring a wave of investment and development to the area. TRJLA LLC's project in Chinatown is poised to play a vital role in this growth, providing much-needed housing and commercial space.With a team of experienced developers, architects, designers, and lawyers, TRJLA LLC is well-equipped to handle the challenges and opportunities of the evolving real estate market. Their focus on innovation and sustainability ensures that their projects not only meet the needs of the present but also contribute to the long-term development of the city.For additional information about the mixed-use project located at 717-759 N Hill Street, Los Angeles, CA 90012, please visit www.trjla.com.Media Contact:Joseph Chang, TRJLA, 1 7029001548, [email protected], www.trjla.comLinkedIn:SOURCE TRJLA; TRJLA

South Korea's cryptocurrency firms are set to gain some respite as the government has decided to postpone the implementation of capital gains tax on cryptocurrencies by two years. This move comes as a relief for the industry, which has been facing uncertainties regarding the tax regulations.

South Korea's Crypto Tax Delay: A Boon for Firms

Delaying Cryptocurrency Tax Policy

For the second time, South Korean authorities have announced that the capital gains tax on cryptocurrencies, which was scheduled to be introduced in January 2025, will not be pushed through. The current political situation in the country has made it difficult to implement the tax in the next year, and it has been deferred until 2027. The Democratic Party of Korea floor leader Park Chan-dae stated on Sunday that they have reached an agreement to postpone the taxes on profits from cryptocurrency trades. "We have decided to agree to a two-year moratorium on the implementation of the cryptocurrency taxation proposed by the government and ruling party," Park said. Despite reports suggesting that the KDP and the ruling People's Power Party have reached a political deal inclined towards a looser approach to taxing crypto gains, a two-year suspension has been agreed upon. Earlier, the People's Power Party proposed to delay the new crypto taxation until January 2028.

Increase Tax-Deductibles

Previously, the Democratic Party opposed the tax moratorium and proposed increasing the tax deductibles instead. Under their initial proposal, the legislators suggested hiking the tax-deductible from the threshold of 2.5 million won to 50 million won, with the aim of implementing the law without any delay. As of today, the market cap of cryptocurrencies stands at $3.37 trillion. However, on Sunday, the party concurred with other South Korean lawmakers to move the implementation date. Meanwhile, Park made it clear that their party would not agree on the government's legislative measures on inheritance and gift tax bills that would "benefit the super wealthy." The South Korean government wanted to reform the country's inheritance tax law by imposing a lower tax rate of 50% to 40% while increasing the deduction thresholds for children inheriting from parents.

Assessing The Law's Impact

Park said that delaying the introduction of the law by two years will give the South Korean government legislators ample time to evaluate the impact of imposing taxes on profits earned from digital assets. Cryptocurrency traders will also have two more years to prepare before being charged on the income they earned from virtual currency trading. Once implemented, South Korean cryptocurrency investors will have to pay a 20% capital gains tax from trading in digital assets. The South Korean government initially aimed to implement a crypto tax in 2021 but was delayed until 2023 due to concerns about its adverse effect on the local cryptocurrency market. The projected 2023 implementation was later postponed and was supposed to be imposed in January next year. But once again, the timeline has been moved further to 2027.

The XRP token, closely associated with Ripple Labs, has achieved a remarkable feat by becoming the fourth-largest cryptocurrency globally in terms of market cap. This surge was triggered by President-elect Donald Trump's election win in November and the subsequent speculation about the SEC potentially dropping its legal case against Ripple. Let's delve deeper into the details.

Key Highlights and Market Movements

The price of XRP witnessed a significant upward trend. Early on Monday, it rose above $2.50 and then dropped slightly to $2.30, registering a 21% surge over the past 24 hours and nearly a 50% increase compared to the previous week. Since Trump's electoral victory, its market cap has soared from around $30 billion to an astonishing $131 billion on Monday. Over the weekend, XRP's market cap crossed $100 billion for the first time since 2018, overtaking Solana's SOL and becoming the world's fourth most valuable cryptocurrency. It also briefly surpassed Tether's USDT stablecoin market value early on Monday before settling slightly lower. Meanwhile, Bitcoin, with its value hovering around $100,000 in the past week, remains the world's most valuable cryptocurrency with a market cap of nearly $1.89 trillion, followed by the Ether token with a market cap of $436 billion.

What Fueled The Xrp Surge This Weekend?

The steady rise in XRP's price since election day was further accelerated over the weekend. Fox Business reported that the New York Department of Financial Services might soon approve the launch of Ripple's RLUSD stablecoin. The report suggested that the company could be preparing to launch RLUSD as early as December 4. This news had a significant impact on XRP's market sentiment.

News Peg and Regulatory Implications

Ripple Labs, the developer of the XRP payment protocol and the user of the token for its payments platform, faced a legal battle with the Securities and Exchange Commission in 2020. The agency accused the company of selling XRP tokens without proper registration. However, last year in July, a federal judge ruled that Ripple did not violate securities law by selling the token on public exchanges. In October this year, the SEC appealed the ruling before the U.S. Court of Appeals for the Second Circuit. The election of President Trump and the announcement by SEC chair Gary Gensler that he is stepping down in January have triggered speculation about the Ripple case. Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, who is a top contender to serve as the "Crypto Czar" in the incoming Trump administration, expressed his view that the SEC should drop the case against Ripple. This has added to the positive sentiment surrounding XRP.

What To Watch For

In a post on X last week, Ripple CEO Brad Garlinghouse mentioned that CBS News' 60 Minutes program had interviewed him. The interview focused on crypto, the push for regulatory clarity, and how the industry came together to advocate for pro-innovation candidates through Fairshake PAC. This indicates the importance of regulatory clarity in the cryptocurrency space.

Key Background and Policy Shifts

The post-election cryptocurrency surge is driven by the expectations of a more crypto-friendly regulatory environment under the Trump and the GOP controlled Congress. During his campaign, the President-elect adopted a pro-crypto stance and promised to make the U.S. the "crypto capital of the planet." This was a significant departure from his earlier stance when he labeled Bitcoin as a "scam" and a disaster waiting to happen.