RikkiTikki_is_Back Posted December 16, 2021 Share Posted December 16, 2021 (edited) 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 woodman_73, VanGogh, JASCoder and 1 other 3 1 Link to comment Share on other sites More sharing options...
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