In a recent statement, business leader Jake Claver highlighted the importance of preparation for XRP holders before potential financial gains. He emphasized key aspects related to structure, legal, and tax planning.
Preparation Before Gaining Wealth
Claver stressed that before XRP becomes real money, the right structures need to be established. 'Before your XRP turns into real money, get your structure in place,' he said. This includes legal, tax, and security planning.
Structures and Security Measures
Claver noted that structures like LLCs and trusts serve as foundational measures for asset security. LLCs provide flexibility for trading and staking while offering liability protection. Trusts are aimed at long-term wealth management, privacy, and estate planning. Claver added that custody arrangements should reflect the chosen structure to ensure clarity in ownership and security.
User Reactions and Details
Some users, such as AleXRP, pointed out that not all holders may require extensive setups, as many retail investors hold relatively small amounts. Claver clearly conveyed that proper structures must be established in advance for holders to manage significant wealth securely.
Claver concluded that proper planning and preparation of structures are critical steps for effectively managing wealth, especially in the context of cryptocurrencies.
