- Crypto influencers have revealed that Ripple Labs played a major role in the US Treasury 2018 report.
- Analysts say that Ripple’s involvement shows it as a part of Fintech ecosystem.
Amelie is a renowned influencer in the crypto world. She shared a message on X Referring to RippleLabs’ involvement with a U.S. Treasury 2018 report.
In the tweet the title of the article is: “A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation,” Executive Order 13772 was presented to the then US President Donald J. Trump.
This report, based on a document analysis we conducted, outlines key principles in the US financial Nonbank institutions play a specific role in the system. financial Institutions and Fintech Companies
Ripple appeared in the section of the Executive Order Engagement Process report. financial The technical entities who participated in the design of the framework.
WOW! 💥 A report to Donald Trump about „a financial A system which creates opportunities for economic growth.”
Look which name is listed in the „Participants in the executive order engagement process” – Ripple! TRUMP🤝🏼 #XRP https://t.co/sTrVqCPcgq pic.twitter.com/f6UqiuU0Qh— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) September 1, 2024
The 2018 Treasury Report: More Information
Trump requested the document for 2018 as part a larger effort to improve innovation in the financial system. The report is based on the principle that the American citizen should be empowered to make their own decisions. financial Decision: prevent taxpayer-funded bailouts; enable American firms to compete with other foreign companies, improve regulations and tailor them appropriately.
This report incorporated the process of engagement for the last three executive orders reports. The following is an excerpt from the report:
Treasury has consulted with many stakeholders over the course of the outreach. financial Services firms, regulators at the federal and state level, advocacy groups for consumers and other interests, academics and experts, as well as investors and investment strategists. Treasury reviewed data, published materials, research and other material both from public and private sources.Treasury considered the broadest possible spectrum of viewpoints when evaluating regulatory approaches in the U.S. financial Core Principles:
The list of individuals and organizations who contributed to the report, apart from Ripple, is listed in Appendix A of this document. This includes the Board of Governors of Federal Reserve System (Board), Bank of Canada, Citi Group and Google. JP Morgan Chase, NASDAQ, LedgerX, S&P Global, Stripe, Visa, etc.
The Impact of Ripple Participants
According to Industry You can find out more about it here.Ripple’s involvement in the Fintech space, and specifically, the blockchain industry, underscores the company’s reputation as one of the leading players. As well, US authorities have deemed its strategic importance to the industry. financial The ecosystem is clear
Brad Garlinghouse of Ripple, CEO five years later, said that XRP will be integrated with the US. financial system. Stu Alderoty revealed the system shortly after Ripple’s General Counsel, Stu, announced the ruling against the US Securities and Exchange Commission. next possible direction.
We’re optimistic that the decision will be made. financial Customers or potential clients of the institution can feel comfortable to come and have a conversation with us about their real problems, such as moving money across borders without paying outrageous fees. This quarter, we hope to generate many conversations with our customers in the United States, which will hopefully lead to real business.
XRP traded at $0.54 as of press time after falling by 2.5% In the past 24 hours. We recently reportedAnalysts expect the XRP to reach unimaginable levels once it is supported financial Institutions transition from the testing phase to full scale adoption.
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