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Ripple pilots businesses to plead US to enact an affable crypto approach

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The US has had a sturdy stand on cryptocurrency and blockchain trading. The position, however, seems to be affecting big guns in the industry. As a result, a group of companies led by Ripple has joined hands to try and convince the US legislators to implement a friendly crypto environment.

In this move, Ripple among other small start-ups will somewhat pay lobbyists in crypto. This declaration comes after the coalition stated that it would hold on a cooperation lobbyist fir, Klein/Johnson Group, which is the linchpin in Fintech problems.

The US individuals were suspended from buying or mining cryptocurrencies for some reasons. First, the state believes the use of digital currency will be used by the majority to evade paying tax. Second, villain states will use the currency and bypass the US warrants. Also, it was noted that this form of currency would facilitate illegal activities.

The climate around the US regulatory agencies such as SEC (the Securities and Exchange Commission) is making the group of major players in the industry feel endangered. These regulatory agencies have been on the hunt to shut down ICOs and illegal cryptocurrency projects. Instead of handling them like special assets or commodities, they were being treated as securities.

As of this publication, the government of US is split on how to control the cryptocurrency sector. The primary concern for the split is on how to define different kinds of cryptocurrencies that fall in the utility tokens, commodities or securities tokens categories.

Securing America’s Internet of Value Coalition is the name these major players are calling themselves. They are optimistic that the US will validate their request and allow a friendly crypto ecosystem. Above all, this will be powering force pushing and funding demonstrative legislation expected to come out of DC.

Executive chairman of Ripple, Chris Larsen said the following regarding the new collaboration:

“We understand this cryptocurrency/blockchain is complex, and there is a lot of misguidances out there. The good news is that in DC, there is a lot of interest in this topic.”

Lobbyist will be earning 25K USD per month from the coalition on top of the 10k XRP tokens that will be taken as cash in all reports to the federal lobbying companies.

Larson explained that the move to make part of the payments in digital form was a deliberate as they can study the game. As a result, they will be a position to represent cryptocurrency, XRP to be specific before legislative supremacy.

Larsen stated:

“It gives them some upside and some risk as well. Hopefully, they will get a taste of the industry in a way that hits home.”

Uncertainty surrounding Cryptocurrency Constitution and Definition

Cryptocurrencies do not fall under the very same regulatory umbrella, and this is the reason to why it’s hard to classify them. Still, this is why it’s hard to divide roles amongst the US several regulatory agencies like the CFTC and the SEC.

Multiple courts of US have added more confusion with their rulings. The most recent is that of the federal judge who announced that digital currencies should get treated as the commodities. The judgment in question is a vow that the CFTC, not the SEC should take problems surrounding cryptos care. These are good news to the crypto investors.

In a ruling, the judge responsible for making the decision said:

“the Congress enacted the securities policies to balance investments, in whatever form they are made and by whatever name they are called..”

After changing lobbyist minds in DC, the chances are that might help stimulate friendly cryptocurrency policies which are needed with the industry. Investors are monitoring how regulatory firms are reacting to products such as the Bitcoin (BTC) ETF and Bakkt, the forthcoming cryptocurrency exchange.

Considering all the legal trouble Ripple has been facing in the past, this indeed looks to be a right investment of time and sources by the blockchain firm.

And of course, if the group succeeds in making US government understand the way they want, it will be a massive win for not only Ripple or the group of businesses standing by side of it but the whole crypto industry. Time will tell if US regulators change its mind regarding crypto or not; still, the group deserves a thumbs up.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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