Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-10-24
Good Afternoon Dinar Recaps,
‘WE WON THAT CASE LAST SUMMER’: RIPPLE CEO OPENS UP ABOUT TRUMP, GENSLER AND XRP LAWSUIT
In recent days, Ripple’s XRP has been making headlines. However, its progress is being hindered by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
CEO Brad Garlinghouse discussed Donald Trump’s support for cryptocurrency, where Trump has positioned himself as a “crypto advocate” during his campaign. Trump has even stated that one of his first actions if elected president would be to remove Gary Gensler, the SEC chairman, who has taken a tough stance against crypto.
Global Crypto Regulations vs. U.S. Approach
In an interview with BBC, Brad points out that many countries like the UK, Switzerland, and Singapore have embraced crypto by creating clear regulatory frameworks.
This has allowed the crypto industry to grow, attracting entrepreneurs and capital. In contrast, the U.S. government, particularly under the Biden administration, has been more hostile toward crypto, creating challenges for the industry..
What a Win Would Mean for Crypto?
Brad talked about the ongoing legal battle between Ripple and the U.S. SEC. Ripple has been fighting the SEC over whether XRP should be classified as a security. Last summer, a judge ruled that XRP is not a security, but the SEC is appealing the decision, though they are not challenging the ruling on XRP itself.
Brad stressed the need for clearer regulations in the U.S. While Bitcoin and XRP have some regulatory clarity, many other cryptocurrencies, like Ethereum and Solana, remain in a “gray area.”
This lack of clarity makes it difficult for the industry to move forward. Brad advocates for clear, well-defined regulations—similar to those in the UK or Japan—so that the crypto industry can follow the rules without fear of uncertainty.
SEC’s Role in Crypto Regulation
He criticized the SEC under Gary Gensler for trying to regulate crypto through enforcement actions rather than creating formal, clear rules. He argues that cryptocurrencies, unlike traditional securities, do not provide ownership rights or governance rights, so they should not be classified as securities.
@ Newshounds News™
Source: CoinPedia
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CHARLES HOSKINSON BREAKS SILENCE WITH FOUNDATIONAL MODEL OF CARDANO BLOCKCHAIN
Cardano founder Charles Hoskinson recently returned to social media with a compelling message that outlines his vision for Cardano and its potential. In his first major tweet since a brief hiatus, Hoskinson described Cardano as "a decentralized ecosystem of blockchain technology, smart contracts, and community governance committed to improving economic, political, and social systems for everyone, everywhere."
Hoskinson went on to outline Cardano's role as a foundational infrastructure designed to empower individuals and communities to "manage their identity, value, and governance," and foster the emergence of decentralized applications, businesses and network states.
This marks one of Hoskinson's first posts on X since Nov. 3, when he announced that he would be taking a week-long social media break to celebrate his birthday and enjoy time "off-grid." His return brings a renewed sense of purpose and focus on Cardano’s mission, reflected in his first tweets.
The Cardano community has reacted positively to Hoskinson’s statement, seeing it as a reaffirmation of the project's goals and values. What happened? Hoskinson previously lamented growing criticisms toward him and the Cardano ecosystem.
Amid this and with one user implying that Hoskinson might be Cardano's cancer, the founder decided to poll the community.
In the survey, Hoskinson asked if he was a "cancer" for Cardano. The poll received 50,501 votes at press time, with 51.6% agreeing that Hoskinson was Cardano's "cancer" and 48.4% saying the Cardano founder was not to blame for the ecosystem's challenges.
Apparently dismayed by the results of the poll, Hoskinson decided to take a break from X throughout the week, stating he wanted to disconnect and meditate. In a Nov. 3 post, Hoskinson made known his decision saying "It's going to be a lot of fun disconnecting and meditating.
On the other side, I'm going to have a different approach to social media and how I communicate to the Cardano ecosystem. I suspect I'll use X a lot less and will emphasize more productive and curated mediums. I will miss the daily interactions and spontaneity of things, but it's honestly become too toxic."
@ Newshounds News™
Source: U Today
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🌱 WHAT IS THE IRON TO GOLDEN AGE? | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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