Did Powell secretly drop a hint that XRP and the XRP Ledger will be deemed systematically important???

[RikkiTikki_is_Back]

Fed chair Jerome Powell says he isn't concerned about crypto disrupting financial stability in the US

I'm reading this and this particular quote from Powell really caught my eye 

“Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” said Powell. “Right now, they aren’t. They have the potential to scale, particularly if they were to be associated with one of the very large tech networks that exist.”

The Fed chair added:

“You could have a payment network that was immediately systemically important that didn’t have appropriate regulation and protections. The public relies on the government and the Fed in particular to make sure that the payment system is safe and reliable.”

 

Did he just send out a call to get ready??? I mean reading this you can't help but think "We will soon have regulatory clarity with the SEC here, we have already been cleared as a currency with the other agency and I keep going back to the fact that when it's all said and done Ripple and XRP will be the only coin and company with documented guidance, rules and regulations from the important agencies of government as it relates to finance in the USA.  I mean look at the key words in his words "Very Large Tech Company" -- Ripple is one if not the largest Tech Company in this space whose business model is built around a Digital Asset.  Once this case is over the XRP Network and the Company Ripple itself will be wrapped in appropriate regulations and protections!!!  Call it speculations but as the DAI always says in this space and one thing, I believe whole hardly "Words mean things!!"

 

Is XRP and the XRP Ledger about to be deemed systematically important and what are the ramifications if so???  This really could be anything other than XRP but logically and gauging where things are at unless there is some other network with a large tech company behind it that is going through the same thing as Ripple or has already something in the works with the fed.  I tend to think Powell is indirectly talking about Ripple and the XRP Ledger. (I could be wrong here, but I also could be right!!   

 

The more I look at this the more his words here seem to be the strongest case for the XRP Ledger and Ripple services that I have read coming from a top ranking governmental official here in the states.  He pretty much called out Ripple and the XRP Ledger without mentioning it specifically!!

Edited December 16, 2021 by RikkiTikki_is_Back

[HAL1000]

This has been a jigsaw / easter egg hunt for everyone in crypto since the start. We know that SWIFT will go bye bye at some point in its current form. The real question is, what will replace it. My BIS thread is part of that hunt for the truth. I have little doubt that XRP, HBAR / ALGO and Stellar will all play a major part in this new world of digital payments at an institutional level.

The FED + BIS + the Bank Of England + the ECB etc, all seem to be in bed with Ripple. So I think it's just a question of time, before the Big Bang Event as it's described in the ECB's own literature, flips the switch, which as far as I can tell will be in Nov 2022. The FED may go in 2023, it's hard to tell at this time. The whole world will switch to instant digital payments by 2030 and most of the world will have made that switch by 2025, from what I have read.

[wojake]

1 minute ago, HAL1000 said:

We know that SWIFT will go bye bye at some point in its current form.

What's your rationale behind this statement? I don't see SWIFT going bust in the future.

[HAL1000]

1 minute ago, wojake said:

What's your rationale behind this statement? I don't see SWIFT going bust in the future.

It's not about going bust, "SWIFT will go bye bye at some point in its current form", SWIFT is like a fax machine trying to justify its existence in the age of email. Even though SWIFT recently upgraded this portion of its business model, it is fully aware of how near instant digital back end settlement will disrupt its business model and is currently transforming its self to match this new reality.

The SWIFT logo is at the top, with Algo being there for a reason. There is a battle going on and a race to be number one in this new digital payments space. The real question is, who will win, most of us are here, I think, because we think it will be Ripple and XRP. The SEC's delaying tactics has allowed some incumbents to catch up with Ripple and propose their own solutions.

I doubt there will be a single winner, but Ripple and XRP, I'm sure, will play a major part, and in some ways already is at the heart of this new digital global payments network.

[RikkiTikki_is_Back]

4 hours ago, HAL1000 said:

This has been a jigsaw / easter egg hunt for everyone in crypto since the start. We know that SWIFT will go bye bye at some point in its current form. The real question is, what will replace it. My BIS thread is part of that hunt for the truth. I have little doubt that XRP, HBAR / ALGO and Stellar will all play a major part in this new world of digital payments at an institutional level.

The FED + BIS + the Bank Of England + the ECB etc, all seem to be in bed with Ripple. So I think it's just a question of time, before the Big Bang Event as it's described in the ECB's own literature, flips the switch, which as far as I can tell will be in Nov 2022. The FED may go in 2023, it's hard to tell at this time. The whole world will switch to instant digital payments by 2030 and most of the world will have made that switch by 2025, from what I have read.

Good points! One reason I believe XRP is the leader in this race because it's not just a race of which tech is the best as far as it relates to efficiency, and cost savings, etc, but one thing that is not pointed out is that it is also a race on which asset will have that broad base of regulatory clarity.  So my point in saying that it appears to be XRP pointed out here is based on the facts that Ripple is currently engaged in a case that will solidify its clarity here in the states and what most fail to realize is "This does not mean clarity for any other digital asset, even though it may appear that way it does not.  It may make it easier for these assets to get clarity finality but once this case settles or ends in judgement XRP will either be a security or not and we will know the legally binding rules and regulations around XRP, not BTC, ETH, Solana or anything else just XRP here in the USA.

Edited December 16, 2021 by RikkiTikki_is_Back

[HAL1000]

3 minutes ago, RikkiTikki_is_Back said:

Good points! One reason I believe XRP is the leader in this race because it's not just a race of which tech is the best as far as it relates to efficiency, and cost savings, etc, but one thing that is not pointed out is that it is also a race on which asset will have that broad base of regulatory clarity.  So my point in saying that it appears to be XRP pointed out here is based on the facts that Ripple is currently engaged in a case that will solidify its clarity here in the states and what most fail to realize is "This does not mean clarity for any other digital asset, even though it may appear that way it does not.  It may make it easier for these assets to get clarity finality but once this case settles or ends in judgement XRP will either be a security or not and we will know the legally binding rules and regulations around XRP, not BTC, ETH, Solana or anything else just XRP here in the USA.

Or XRP will be judged under the Reves test and be classed as a convertible note.

[RikkiTikki_is_Back]

3 minutes ago, HAL1000 said:

Or XRP will be judged under the Reves test and be classed as a convertible note.

Could be but we will find out soon and with that XRP will be the only DA in this space that does what it does that we have a clarification on what it is and how it can be used.  We already know the XRP Ledger is a secure stable platform and is soon to be ISO2022 compliant.  Things are lining up!!

[Julian_Williams]

Interesting lines of thought.  I hope you are right and I will at last be very rich and be able to retire 

Edited December 16, 2021 by Julian_Williams

[RikkiTikki_is_Back]

I hope so to, you really can't determine how things will go in this space from day to day one reason I try to lean lightly on the TPA talk and more heavily on fundamentals, use case, and legality. XRP the XRP Ledger and Ripple has everything the Government needs with the exception of legal clarity and that is on the horizon. The fact that it is the only DA that will have that clarity leads me to believe that when it is all said and done it will be deemed systematically important. If the SEC looses which it looks like they will making Ripple Systematically important because being that the ledger itself is open source and decentralized and not owned by anyone  they can't legally make that Systematically important but they can do so to Ripple the company and their practices and procedures which would bring the use of ODL and other products under higher federal regulatory practices and standards in line with large banks!! From Powells talks it seems like he is dropping bread crumbs!

Edited December 16, 2021 by RikkiTikki_is_Back

[DannyRipple]

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