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Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. President-elect Joe Biden.

Who is Gar Gensler?

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More recently, he has also testified before Congress about cryptocurrency and blockchain on multiple occasions, pushing back against comparisons between cryptocurrencies and Ponzi schemes and declaring that the still-unlaunched Libra token met the requirements of being a security under U.S. law. At an MIT conference two years ago, he opined that there was a “strong case” XRP, the cryptocurrency closely associated with startup Ripple, is a security.

https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team

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https://cointelegraph.com/news/biden-taps-crypto-savvy-former-cftc-chair-for-transition-team

 

Edited by LetHerRip
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Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. President-elect Joe Biden

Biden isn't president elect of anything so the rest of your article can't be taken seriously

We know what he thinks about XRP... in 2018.  Ripple has a strong argument that since the time of that writing that XRP has become significantly more decentralized across all different metrics; ie XRP

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This news was just published (its the main story right now on CoinDesk) on credible news sites which VFCrypto unfortunately isn't, but he was right and news confirmed today! ;)

Either way this topic is for discussing the subject at hand not posting a link to my news site hoping to get some visitors from forum members.

Edited by LetHerRip
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From a strategic standpoint it probably is not in the best interest of Ripple moving to another country. They may, if XRP is deemed a security. Why would Ripple leave the U.S. when as of right now the U.S. is the main supplier of international liquidity. If xrp is to succeed then they need the USD for the transitional phase, since especially right now the largest commercial corridor that we are aware of is the U.S. Mexico corridor.

Remember he is appointed to the transition team. That particular job would last until 20/01/2021. The first seat to open at the SEC will be available at some point 2021 as the current chairman's seat will have come to the 5 year term. It will be much more important to know who will be filling the seat of chairman over the transition team since it is a five year term.

Also did I read it correctly that the comment about ethereum and xrp is from 2019. So we will see.

 

Edited by peanut56
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This keeps getting better and better.  Cowboy Brad tweets this a few days ago:

  • Democracy wins - regardless of who you voted for, it’s incredible to see the historic voter turnout this election. Congrats to President-elect @JoeBiden and Vice President-elect  @KamalaHarris-  it's time to come together and turn to the many challenges that lie ahead
  • #6 - Biden to require public companies to disclose climate change-related activities and GHG emissions in their operations. Love to see the action on climate change - first NYDFS, now this. Public companies holding BTC (ahem Square) -- may want to pay attention

 

Then this article comes out yesterday stating:

  • Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. President-elect Joe Biden.
  • More recently, he has also testified before Congress about cryptocurrency and blockchain on multiple occasions, pushing back against comparisons between cryptocurrencies and Ponzi schemes and declaring that the still-unlaunched libra token met the requirements of being a security under U.S. law. At an MIT conference two years ago, he opined there was a “strong case” XRP (XRP, +1.42%), the cryptocurrency closely associated with startup Ripple, is a security.

 

This isn't the first time for Brad to get involved on twitter, only for it to backfire.  It is common for Board of Directors to step in and take corrective actions in scenarios like this.  I am sure Square will now be paying attention to see what comes next for Brad and Ripple!

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