Rippleors strategist claims that the White House is working to provide foreign control by using the XRP.
Ripple’s top market strategist hinted that they are in contact with the White House
In an interview with Ripple’s chief market strategist Cory Johnson Breaker, Ripple said he was in talks with the White House, which is concerned about the fact that China is mining the majority of the world’s Bitcoin and Ethereum:
Obviously too much work is done. Especially the fact that 80 percent of Bitcoin mining takes place in China and the majority of Ether mining is in China seems to make the White House think a little.
In a speech without name, Johnson said that they had regular meetings with Washington and met with regulators and politicians. The fact that former US President Bill Clinton spoke at a Ripple event in October has no connection with this.
The crypto-money XRP, associated with the payment service provider Ripple, is worth $ 18.2 billion in total, according to CoinMarketCap, and the third most valuable crypto in the market. Unlike Bitcoin and Ethereum, it is not produced by mining. Johnson said the Trump administration was considering the consequences of environmental impact and foreign control.
This development can be interpreted as focusing on the XRP, suggesting that this sector’s foreign domination may be undermined.
Whether XRP is defined as securities is not yet clear
It can be said that providing XRP with foreign control requires special controls. Ripple has been criticized for holding about 60 percent of the XRP tokens, or about $ 10.8 billion, compared to its current price. Ripple always claims that the XRP is a decentralized crypto. Johnson says that for Chevron, the oil is the XRP in Ripple. In short, he argues that he may have a dominant interest, but that the real property itself is fundamentally independent.
In response to criticisms, some claim that Ripple was locked into a escrow account that the XRP assets could not touch, although some claimed it was a tactic to raise the price of the XRP. Although it is unclear whether it has anything to do with it, some members of the Ripple management team also emphasize that certain members are extremely rich.
Johnson is also referring to the fact that the electricity used in crypto-money mining has caused tremendous damage to the environment. It is unlikely that this would be a major concern for the current US administration from the Paris Climate Agreement in June 2017.
White House under Trump can speed up regulations
In July, the Trump administration set up a new financial fraud department instead of an older unit that did not involve the issue of crypto money.
In order to institutionalize the XRP in the United States, it must be organized first. Currently, the country’s Securities and Exchange Commission has not yet decided whether the XRP is a securities. There are a number of active cases against Ripple in this regard.
Ripple also denies that the XRP is a security. On the other hand, Ripple payment services are a service accepted by banks. It’s also a growing value.