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Ripple’s XRP – Not a “Security” as per a US Congressman

MINNESOTA, The United States – Tom Emmer, United States, or a US Congressman, says Ripple is “not a security” during the Cryptocurrency Town Hall. As per Brad Garlinghouse, he didn’t deny the information regarding its company with Bank of America.

Tom Emmer hosted a “Cryptocurrency Town Hall” yesterday, an American representative from Minnesota. The event had aggregation with the Chamber of Digital Commerce’s PAC to fix the innovators together in the digital asset industry. Moreover, the event attendees included Jeremy Allaire, the CEO of Circle, Guy Hirsch, the CEO of eToro, Stephan Pair, and Chad Cascarilla, the co-founder of Paxi.

Emmer declared that he would acknowledge donations during his event. It’s for the customers to complain in digital asset-form through BitPay. Also, he explained that the US Congress would leave any digital asset behind. It will promote both cryptocurrency and blockchain technology too.

Emmer stated to Ripple’s XRP that he’s not a “security.” He called the US congress, along with SEC or Securities and Exchange Commission (SEC).

As per his team, they removed the path from Silk Road.

With the ongoing even, Brad Garlinghouse, the CE of Ripple, also replied several questions in the comments part. They can leave a note during the events, and the company asked several problems in the online even’s comment area. These questions make provocative statements. A community member asked the CEO of Ripple, he didn’t deny the news, yet he provided an answer.

As per Garlinghouse, he can’t deny or confirm the said question.

David Schwartz, the CTO of Ripple, observed the response, which ramblingly confirmed the rumour.

Garlinghouse observed improvements in the application of SBI Ripple Asia for XRP’s ODL or On-demand Liquidity. As per CNF, the shared business between Ripple and SBI Holdings is presently checking ODL. The joint plans to proceed in the production and the CEO is optimistic.

Also, the CEO of Ripple provided a declaration on Flare Network, and he permits the implementation of smart contracts, which are on the XRP Ledger. It might allow the XRP Ledger to gain access to its DeFi segment.

On the downside, cryptocurrency scammers got 2.5 million XRP from YouTube. This year became the year for hackers to take control of social media accounts. These fraudsters used YouTube, and it’s under a Brazilian YouTube channel with 2.43 million subscribers.

UniversoCurioso, David Damasceno, explained that hackers got access to his account on YouTube. They shared live-streamed vids with false information regarding the fake giveaway scam amounting to 100 million XRP.

The scam asked users to transfer 2,000 to 150,000 XRP to a virtual wallet address. The scam promised these users to receive a twofold-return. The strategy was similar to the previous Twitter hacks.

Damasceno introduced the YouTube channel three years ago, and it utilizes the scheme to deliberate popular science, theories, and history about aliens.

This incident is not a new thing for XRP because Ripple experiences it back some months ago after filing a lawsuit over YouTube for the video-sharing platform.

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Adam Joyce

Adam is a passionate cryptocurrency writer.

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