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The Feds Are Giving You 2 Reasons To Be Bullish About Ripple (XRP)

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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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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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