• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
XRP: Potential Role in U.S. Financial Strategy

XRP: Potential Role in U.S. Financial Strategy

user avatar

by Giorgi Kostiuk

a year ago


A document titled 'Comprehensive Proposal: XRP as a Strategic Financial Asset for the U.S.' is circulating widely online, attracting attention from the XRP community. The document discusses XRP's potential to reduce costs and create a national reserve.

The Proposal and Its Content

The document available on the SEC's website presents an economic analysis of XRP's potential to unlock trillions in liquidity and reduce transaction costs, alongside forming a national Bitcoin reserve. It estimates that the U.S. share of global Nostro accounts amounts to $5 trillion, with XRP potentially unlocking $1.5 trillion. Additionally, it suggests a Bitcoin reserve calculated at $60,000 per BTC.

Clarification from XRPL Validator Vet

Following the document's circulation, XRPL validator Vet clarified that this is not an official SEC document but submitted by an independent party. Vet stated, 'Anyone can submit proposals and comments to the SEC and within a short review time it’s posted on the website. This is not a document authored by the SEC itself regarding an XRP Strategic Reserve.'

XRP Community Reactions

The proposal was widely shared by prominent XRP figures, leading to a discussion about responsible information sharing. A user named Badwie commented, 'And yet most of the big XRP guys on X reposted this without researching it first… please guys, don’t share just to be the first… removes belief in you!' This highlights the importance of verification before wide dissemination.

This incident serves as a reminder to the crypto community of the necessity to verify sources and differentiate between official positions and independent proposals. Although optimistic about XRP's role, the document's presence on the SEC's website should not be seen as an endorsement.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Price Approaches Cyclical Bottom

chest

Recent analysis indicates that Bitcoin is currently at a significant price level, suggesting a potential cyclical bottom.

user avatarLi Weicheng

Bitcoin Price Declines Amid Bear Market

chest

Bitcoin's price is significantly below its all-time high, indicating a bear market.

user avatarAisha Farooq

Bitcoin Sharpe Ratio Indicates Market Conditions

chest

The Bitcoin Sharpe Ratio is at a historically low level, suggesting high risks for current investors.

user avatarTenzin Dorje

CFTC Expands Eligible Margin Collateral to Include National Trust Bank Issued Stablecoins

chest

The CFTC has updated its advisory to recognize payment stablecoins issued by national trust banks as eligible margin collateral.

user avatarBayarjavkhlan Ganbaatar

Digital Asset Firms Push for National Bank Charters to Enhance Credibility

chest

Digital asset firms are competing for national bank charters to enhance credibility and expand services under federal oversight.

user avatarElias Mukuru

Bitcoin Mining Difficulty Sees Major Drop Amid Price Struggles

chest

Bitcoin mining difficulty has dropped significantly, marking the largest adjustment since China's crackdown on mining.

user avatarMohamed Farouk

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.