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SEC Chairman Clayton’s view on crypto currency and how Ripple may come to regret their “asset” title

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For many months now brad and the gang have been very careful NOT to address XRP as a crypto currency and actively correct the interviewer at every opportunity that it is indeed a financial asset. Do you think they now regret that stance given that SEC Chairman Clayton has unequivocally stated crypto currencies that endeavour to replace fiat currency will not fall under their jurisdiction, but assets may?

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20 minutes ago, zach said:

For many months now brad and the gang have been very careful NOT to address XRP as a crypto currency and actively correct the interviewer at every opportunity that it is indeed a financial asset. Do you think they now regret that stance given that SEC Chairman Clayton has unequivocally stated crypto currencies that endeavour to replace fiat currency will not fall under their jurisdiction, but assets may?

How much is Jed paying you ? :)

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I don't know why they call it a digital asset. I've always seen XRP first and foremost as a deflationary digital bridging currency - something that given enough time and support could become the world's first ditigal global reserve currency - a very long shot at the moment, but still,  I would not have foreseen Ripple at its current state when I started in early 2014.  'Asset' makes it sound like it belongs to Ripple and that that ownership doesn't extend to the broader community, like a pure cryptocurrency. Maybe Ripple took this direction to gain favor in the eyes of banks, that if banks need this tech, they have to get it from Ripple - I don't know.

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2 minutes ago, Sarnos said:

If you call an apple an apple even though it is a mango it does not matter to the judge how you call it... important is what he thinks

NEXT FUD

It isn’t FUD. Provoking a response which ‘may’ create uncertainty in ones mind is not FUD, it’s a genuine question and while it may not resonate with everyone it is worth pondering even just for a moment.

Whilst I agree that calling a mango an apple does not transform the Mango to an apple unless you’re living in a magical parallel universe somewhere upon the yonder, I would argue it matters greatly what the CEO calls the asset or currency when presiding over the decision.

If we were to go down the route of “call it whatever we like, it will not make any difference” why not call it a financial doorstop. 

If a post doesn’t garner a response of how great and mighty XRP or Ripple is - it’s FUD. 

If a post strays into questioning XRP in any way, no matter how slight - it’s FUD.

Please! Is this an open forum to answer serious questions and pose reservations about a space we’re all interested in? Or is it an echo chamber that must not utter any words of doubt and cast a shadow upon the visceral fear you may have. 

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1 minute ago, enrique11 said:

I don't know why they call it a digital asset. I've always seen XRP first and foremost as a deflationary digital bridging currency - something that given enough time and support could become the world's first ditigal global reserve currency - a very long shot at the moment, but still,  I would not have foreseen Ripple at its current state when I started in early 2014.  'Asset' makes it sound like it belongs to Ripple and that that ownership doesn't extend to the broader community, like a pure cryptocurrency. Maybe Ripple took this direction to gain favor in the eyes of banks, that if banks need this tech, they have to get it from Ripple - I don't know.

Thank you for an intellectual and honest answer

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25 minutes ago, zach said:

For many months now brad and the gang have been very careful NOT to address XRP as a crypto currency and actively correct the interviewer at every opportunity that it is indeed a financial asset. 

Have they? I've only heard the term digital asset. Financial asset is a new one to me. Care to share these sources that you've seen this said? 

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6 minutes ago, xrp-pat said:

Have they? I've only heard the term digital asset. Financial asset is a new one to me. Care to share these sources that you've seen this said? 

Please find the operative word in the title. It has quotation marks around it, starts with a and ends with t.

Edited by zach
Typo

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4 minutes ago, zach said:

Please find the operative word in the title. It has quotation marks around it, starts with a and ends with t.

So why are you you calling it a financial asset then? That's plainly wrong. Your misleading people. 

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