A few days ago, Global Coin Report highlighted the case for Ripple (XRP) being classified as NOT being a security with the recent decision on Ethereum (ETH) by the SEC regarding the same. This means that it might be a matter of time before the SEC declare XRP as not being within its regulatory reach. In the statement, William Hinman, Director of the SEC’s Division of Corporate Finance, said that:
“When we think about how ether today is operating, at least, we see a highly decentralized network, not the type of centralized actor that characterizes securities offerings. In its current state, we don’t see value regulating it.”
This statement by an SEC official is the first reason why the Feds are giving you a reason to be bullish about XRP. XRP is purely decentralized and a separate entity from the parent company of Ripple.
That said, it is only a matter of time before a current lawsuit filed against the Ripple company disintegrates. This lawsuit was filled by a disgruntled trader who lost 30% of his investment value due to the market decline we have been experiencing. The plaintiff claims that XRP is an unregistered security and wants the parent company to pay for attorney fees, the cost of the suit and punitive damages.
Furthering a second case where the Feds are giving you a reason to be bullish about XRP, is that one of Ripple’s top executives, Ryan Zagone, has been elected to the Federal Reserve’s Faster Payments Task Force Steering Committee. Zagone joins a 16 member committee that represents the working group’s numerous stakeholders. The current number of participants in the task-force number 321. The steering committee representing them and offers guidance on how to go about figuring out how to realize the vision of a US payment system that it is faster, ubiquitous, broadly inclusive, safe, highly secure, and efficient by 2020.
Zagone will be able to lend his expertise in issues relating to Ripple working with financial institutions, regulators and central banks. Zagone is currently Ripple’s Head of Research on the Business Development team. He has vowed to leverage Ripple’s global experience as the task force assesses ways to increase the speed, efficiency, access to and competition in payments in the US.
His election to the Steering committee only means that Ripple has proven once again itself to the Federal Reserve authorities and those in the task-force in terms of being the future of international payments and remittance services. Perhaps it is only a matter of time before the Federal Reserve joins RippleNet and starts using other Ripple products.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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Cryptocurrency vs. Blockchain Technology
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…