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SB: Great Post! Agree 100+%! ...
Cheers! ...
You said ...
"The reputable exchanges will survive and prosper on the collapse of the poorly regulated schlock houses IMO. And as someone else pointed out, the Blackrock/Coinbase connection is a game changer. Smart money won't let legitimate crypto projects fail, and certainly their developers won't. Disbelievers are in for a rude Shib awakening... just a matter of time. AIMHO."
XRPUSD and Shiba Coin are better than a U.S. CBDC!
CBDC the 'Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act' ...
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance.
CBDCs a Threat to Financial Privacy!
A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be detrimental to the American people. To support this assertion, the analysis document points to the two-thirds of the 2,052 comment letters sent to the U.S. Federal Reserve that oppose plans to launch a CBDC.
Authored by Nicholas Anthony and Norbert Michel, the policy analysis document also lists some of the concerns about CBDCs that have been raised and how the associated risks make the CBDC unsuitable for Americans. As seen in the document, one key concern raised by CBDC opponents is the threat this poses to Americans’ right to financial privacy.
“Laws designed to counter-terrorism, deter money laundering, and collect taxes largely provide the government with the ability to conduct unchecked surveillance over financial information. Nonetheless, a CBDC could spell doom for what little protection remains because it would give the federal government complete visibility into every financial transaction by establishing a direct link between the government and each citizen’s financial activity,” the analysis document stated.
While attaining this feat is something the U.S. government may want to do, the authors assert that the issuance of the CBDC would amount to what they call the “single largest assault to financial privacy since the creation of the Bank Secrecy Act and the establishment of the third-party doctrine.”
US Congressional Intervention Sought
Besides being a threat to citizens’ right to privacy as guaranteed by the U.S. constitution, Anthony and Michel claimed that a CBDC is likely to be a threat to financial freedom as well. They said:
A CBDC would provide countless opportunities for the government to control citizens’ financial transactions. Such control could be preemptive (prohibiting and limiting purchases), behavioural (spurring and curbing purchases), or punitive (freezing and seizing funds).
The policy document also suggested that a CBDC will pose a threat to free markets and will give cybercriminals “a prominent platform on which to focus their efforts.”
To prevent the U.S. Federal Reserve from creating these risks, the two authors recommend that the U.S. Congress “should explicitly prohibit” the U.S. Treasury and central bank from issuing digital currency in any form. This can be done by amending Section 13 of the Federal Reserve Act and by limiting the U.S. “Treasury’s authority to expand existing offerings.”
The authors also recommend that the U.S. Congress must “require that the Fed’s compliance with the Depository Institutions Deregulation and Monetary Control Act’s cost recovery provisions be subject to regular audits by third parties.”
XRPUSD and Shiba Coin are better than a U.S. CBDC!
CBDC the 'Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act' ...
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance.
CBDCs a Threat to Financial Privacy!
A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be detrimental to the American people. To support this assertion, the analysis document points to the two-thirds of the 2,052 comment letters sent to the U.S. Federal Reserve that oppose plans to launch a CBDC.
Authored by Nicholas Anthony and Norbert Michel, the policy analysis document also lists some of the concerns about CBDCs that have been raised and how the associated risks make the CBDC unsuitable for Americans. As seen in the document, one key concern raised by CBDC opponents is the threat this poses to Americans’ right to financial privacy.
“Laws designed to counter-terrorism, deter money laundering, and collect taxes largely provide the government with the ability to conduct unchecked surveillance over financial information. Nonetheless, a CBDC could spell doom for what little protection remains because it would give the federal government complete visibility into every financial transaction by establishing a direct link between the government and each citizen’s financial activity,” the analysis document stated.
While attaining this feat is something the U.S. government may want to do, the authors assert that the issuance of the CBDC would amount to what they call the “single largest assault to financial privacy since the creation of the Bank Secrecy Act and the establishment of the third-party doctrine.”
US Congressional Intervention Sought
Besides being a threat to citizens’ right to privacy as guaranteed by the U.S. constitution, Anthony and Michel claimed that a CBDC is likely to be a threat to financial freedom as well. They said:
A CBDC would provide countless opportunities for the government to control citizens’ financial transactions. Such control could be preemptive (prohibiting and limiting purchases), behavioural (spurring and curbing purchases), or punitive (freezing and seizing funds).
The policy document also suggested that a CBDC will pose a threat to free markets and will give cybercriminals “a prominent platform on which to focus their efforts.”
To prevent the U.S. Federal Reserve from creating these risks, the two authors recommend that the U.S. Congress “should explicitly prohibit” the U.S. Treasury and central bank from issuing digital currency in any form. This can be done by amending Section 13 of the Federal Reserve Act and by limiting the U.S. “Treasury’s authority to expand existing offerings.”
The authors also recommend that the U.S. Congress must “require that the Fed’s compliance with the Depository Institutions Deregulation and Monetary Control Act’s cost recovery provisions be subject to regular audits by third parties.”
XRPUSD and Shiba Coin Great SEC News! ...
Lawyers confident of XRP vs. SEC victory after Gary Gensler completely fails before Congress in testimony!
By GODFREY BENJAMIN 19. April 2023
The Ripple community has once again called for a swift judgment in the ongoing case with SEC.
The recent failure of the SEC Chairman in the recent hearing fueled the new call.
The latest hearing of Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC) before the House Financial Services Committee has also lent another crucial argument on the incompetence of the top regulator in handling the ongoing lawsuit between the commission and Ripple Labs Inc.
In fact, members of the XRP community and the broader crypto ecosystem are asking Judge Torres to provide a swift judgment, preferably in favor of Ripple Labs. The hearing showed in part that Gary Gensler is unsure of some of the regulations he demands crypto companies adhere to, thus pushing him to resort to tough enforcement measures to ensure compliance.
Ripple Labs comes off as the firm that has suffered the most from the regulatory crackdown being championed by the SEC. While the lawsuit was not filed by him, the court trials started after he assumed office as acting Chairman, and many commentators believe he could have made a difference if he had the best interests of the industry in mind.
As part of the revolt against his leadership at the SEC, Rep Warren Davidson has filed a bill that will see the restructuring of the SEC and the removal of other known past chairmen of the SEC. Should the SEC Chairman end up being removed from office, it might further invalidate the call for his sack by members of the crypto world.
Beyond Ripple: Major Gaffes in Gensler’s Testimony
The testimony has been the talk of the town since yesterday as Chairman Gensler was unable to categorically state whether or not Ethereum is a security when asked blatantly by lawmakers.
More ...
https://www.crypto-news-flash.com/ripple-lawyers-confident-of-xrp-vs-sec-victory-after-gary-gensler-completely-fails-before-congress-in-testimony-report/
XRPUSD and Shiba Coin Great SEC News! ...
Lawyers confident of XRP vs. SEC victory after Gary Gensler completely fails before Congress in testimony!
By GODFREY BENJAMIN 19. April 2023
The Ripple community has once again called for a swift judgment in the ongoing case with SEC.
The recent failure of the SEC Chairman in the recent hearing fueled the new call.
The latest hearing of Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC) before the House Financial Services Committee has also lent another crucial argument on the incompetence of the top regulator in handling the ongoing lawsuit between the commission and Ripple Labs Inc.
In fact, members of the XRP community and the broader crypto ecosystem are asking Judge Torres to provide a swift judgment, preferably in favor of Ripple Labs. The hearing showed in part that Gary Gensler is unsure of some of the regulations he demands crypto companies adhere to, thus pushing him to resort to tough enforcement measures to ensure compliance.
Ripple Labs comes off as the firm that has suffered the most from the regulatory crackdown being championed by the SEC. While the lawsuit was not filed by him, the court trials started after he assumed office as acting Chairman, and many commentators believe he could have made a difference if he had the best interests of the industry in mind.
As part of the revolt against his leadership at the SEC, Rep Warren Davidson has filed a bill that will see the restructuring of the SEC and the removal of other known past chairmen of the SEC. Should the SEC Chairman end up being removed from office, it might further invalidate the call for his sack by members of the crypto world.
Beyond Ripple: Major Gaffes in Gensler’s Testimony
The testimony has been the talk of the town since yesterday as Chairman Gensler was unable to categorically state whether or not Ethereum is a security when asked blatantly by lawmakers.
More ...
https://www.crypto-news-flash.com/ripple-lawyers-confident-of-xrp-vs-sec-victory-after-gary-gensler-completely-fails-before-congress-in-testimony-report/
XRPUSD and Shib Coin CBDC News!
?
NEWS
Apr 10, 2023
BTC$28340.06+1.65%
ETH$1862.99+1.49%
BNB$313.29+1.10%
XRP$0.51+0.53%
ADA$0.39+0.56%
HEX$0.07+3.69%
DOGE$0.09+1.35%
STETH$1836.31+0.57%
MATIC$1.10+0.40%
WETH$1861.53+1.36%
SOL$20.29+1.46%
DOT$6.18+1.05%
BUSD$1.00+0.01%
LTC$90.70+0.66%
SHIB$0.00+1.01%
TRX$0.07+1.09%
AVAX$17.60+1.80%
DAI$1.00-0.00%
UNI$5.87+0.42%
UST$0.25-0.01%
BTC$28340.06+1.65%
ETH$1862.99+1.49%
BNB$313.29+1.10%
XRP$0.51+0.53%
ADA$0.39+0.56%
HEX$0.07+3.69%
DOGE$0.09+1.35%
STETH$1836.31+0.57%
MATIC$1.10+0.40%
WETH$1861.53+1.36%
SOL$20.29+1.46%
DOT$6.18+1.05%
BUSD$1.00+0.01%
LTC$90.70+0.66%
SHIB$0.00+1.01%
TRX$0.07+1.09%
AVAX$17.60+1.80%
DAI$1.00-0.00%
UNI$5.87+0.42%
UST$0.25-0.01%
FEATURED
by Terence Zimwara
1 day ago
CATO Institute: CBDC the 'Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act'
?
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance.
CBDCs a Threat to Financial Privacy
A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be detrimental to the American people. To support this assertion, the analysis document points to the two-thirds of the 2,052 comment letters sent to the U.S. Federal Reserve that oppose plans to launch a CBDC.
Authored by Nicholas Anthony and Norbert Michel, the policy analysis document also lists some of the concerns about CBDCs that have been raised and how the associated risks make the CBDC unsuitable for Americans. As seen in the document, one key concern raised by CBDC opponents is the threat this poses to Americans’ right to financial privacy.
“Laws designed to counter-terrorism, deter money laundering, and collect taxes largely provide the government with the ability to conduct unchecked surveillance over financial information. Nonetheless, a CBDC could spell doom for what little protection remains because it would give the federal government complete visibility into every financial transaction by establishing a direct link between the government and each citizen’s financial activity,” the analysis document stated.
While attaining this feat is something the U.S. government may want to do, the authors assert that the issuance of the CBDC would amount to what they call the “single largest assault to financial privacy since the creation of the Bank Secrecy Act and the establishment of the third-party doctrine.”
US Congressional Intervention Sought
Besides being a threat to citizens’ right to privacy as guaranteed by the U.S. constitution, Anthony and Michel claimed that a CBDC is likely to be a threat to financial freedom as well. They said:
A CBDC would provide countless opportunities for the government to control citizens’ financial transactions. Such control could be preemptive (prohibiting and limiting purchases), behavioural (spurring and curbing purchases), or punitive (freezing and seizing funds).
The policy document also suggested that a CBDC will pose a threat to free markets and will give cybercriminals “a prominent platform on which to focus their efforts.”
To prevent the U.S. Federal Reserve from creating these risks, the two authors recommend that the U.S. Congress “should explicitly prohibit” the U.S. Treasury and central bank from issuing digital currency in any form. This can be done by amending Section 13 of the Federal Reserve Act and by limiting the U.S. “Treasury’s authority to expand existing offerings.”
The authors also recommend that the U.S. Congress must “require that the Fed’s compliance with the Depository Institutions Deregulation and Monetary Control Act’s cost recovery provisions be subject to regular audits by third parties.”
TAGS IN THIS STORY
Bank Secrecy Act, central bank digital currency, Financial Freedom, financial privacy, Nicholas Anthony, Norbert Michel, The US Federal Reserve, us congress
What are your thoughts on this story? Let us know what you think in the comments section below.
?
Terence Zimwara
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.
?
Luxury Brand Ralph Lauren Now Accepting Crypto Payments at Its New Miami Store
?
South African Professor Accuses US Regulators of Attempting to 'Assassinate Crypto'
Image Credits: Shutterstock, Pixabay, Wiki Commons
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XRPUSD and Shib Coin CBDC News!
?
NEWS
Apr 10, 2023
BTC$28340.06+1.65%
ETH$1862.99+1.49%
BNB$313.29+1.10%
XRP$0.51+0.53%
ADA$0.39+0.56%
HEX$0.07+3.69%
DOGE$0.09+1.35%
STETH$1836.31+0.57%
MATIC$1.10+0.40%
WETH$1861.53+1.36%
SOL$20.29+1.46%
DOT$6.18+1.05%
BUSD$1.00+0.01%
LTC$90.70+0.66%
SHIB$0.00+1.01%
TRX$0.07+1.09%
AVAX$17.60+1.80%
DAI$1.00-0.00%
UNI$5.87+0.42%
UST$0.25-0.01%
BTC$28340.06+1.65%
ETH$1862.99+1.49%
BNB$313.29+1.10%
XRP$0.51+0.53%
ADA$0.39+0.56%
HEX$0.07+3.69%
DOGE$0.09+1.35%
STETH$1836.31+0.57%
MATIC$1.10+0.40%
WETH$1861.53+1.36%
SOL$20.29+1.46%
DOT$6.18+1.05%
BUSD$1.00+0.01%
LTC$90.70+0.66%
SHIB$0.00+1.01%
TRX$0.07+1.09%
AVAX$17.60+1.80%
DAI$1.00-0.00%
UNI$5.87+0.42%
UST$0.25-0.01%
FEATURED
by Terence Zimwara
1 day ago
CATO Institute: CBDC the 'Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act'
?
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance.
CBDCs a Threat to Financial Privacy
A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be detrimental to the American people. To support this assertion, the analysis document points to the two-thirds of the 2,052 comment letters sent to the U.S. Federal Reserve that oppose plans to launch a CBDC.
Authored by Nicholas Anthony and Norbert Michel, the policy analysis document also lists some of the concerns about CBDCs that have been raised and how the associated risks make the CBDC unsuitable for Americans. As seen in the document, one key concern raised by CBDC opponents is the threat this poses to Americans’ right to financial privacy.
“Laws designed to counter-terrorism, deter money laundering, and collect taxes largely provide the government with the ability to conduct unchecked surveillance over financial information. Nonetheless, a CBDC could spell doom for what little protection remains because it would give the federal government complete visibility into every financial transaction by establishing a direct link between the government and each citizen’s financial activity,” the analysis document stated.
While attaining this feat is something the U.S. government may want to do, the authors assert that the issuance of the CBDC would amount to what they call the “single largest assault to financial privacy since the creation of the Bank Secrecy Act and the establishment of the third-party doctrine.”
US Congressional Intervention Sought
Besides being a threat to citizens’ right to privacy as guaranteed by the U.S. constitution, Anthony and Michel claimed that a CBDC is likely to be a threat to financial freedom as well. They said:
A CBDC would provide countless opportunities for the government to control citizens’ financial transactions. Such control could be preemptive (prohibiting and limiting purchases), behavioural (spurring and curbing purchases), or punitive (freezing and seizing funds).
The policy document also suggested that a CBDC will pose a threat to free markets and will give cybercriminals “a prominent platform on which to focus their efforts.”
To prevent the U.S. Federal Reserve from creating these risks, the two authors recommend that the U.S. Congress “should explicitly prohibit” the U.S. Treasury and central bank from issuing digital currency in any form. This can be done by amending Section 13 of the Federal Reserve Act and by limiting the U.S. “Treasury’s authority to expand existing offerings.”
The authors also recommend that the U.S. Congress must “require that the Fed’s compliance with the Depository Institutions Deregulation and Monetary Control Act’s cost recovery provisions be subject to regular audits by third parties.”
TAGS IN THIS STORY
Bank Secrecy Act, central bank digital currency, Financial Freedom, financial privacy, Nicholas Anthony, Norbert Michel, The US Federal Reserve, us congress
What are your thoughts on this story? Let us know what you think in the comments section below.
?
Terence Zimwara
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.
?
Luxury Brand Ralph Lauren Now Accepting Crypto Payments at Its New Miami Store
?
South African Professor Accuses US Regulators of Attempting to 'Assassinate Crypto'
Image Credits: Shutterstock, Pixabay, Wiki Commons
PREVIOUS ARTICLE
NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases
NEXT ARTICLE
Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports
DISCLAIMER
COMMENT
More Popular News
?
Economist Peter Schiff Advises 'Get Rid of Your US Dollars Now' — Warns USD's Reserve Currency Status in Jeopardy
ECONOMICS | 1 day ago
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
ECONOMICS | 17 hours ago
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THE WEEKLY | 21 hours ago
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ECONOMICS | 1 day ago
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ECONOMICS | 9 hours ago
Economist Jim Rickards Says US Dollar's Greatest Enemy as Reserve Currency Is the Treasury
ECONOMICS | 15 hours ago
Bitcoin.com in your inbox
Sign up
In Case You Missed It
?
Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.
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XRPUSD and Shiba Coin are better than US CBDC!
A CBDC Would Not Be Money in the Sense Used in the Constitution
The latest fad in monetary policy circles worldwide is CBDC or Central Bank Digital Currency, a government-created cryptocurrency exchanged on a blockchain. Many fear that it would give governments complete control over individuals by allowing them to track, and even block, individual transactions and to impose taxes at will.
In the United States, though, “money” has a constitutional basis so firm that, despite its name, a US government CBDC would not be “money” or even “currency.” It could exist as one payment system among many, but without violating the US Constitution it could not be forced on Americans as the sole final means of payment.
The term “currency” never appears in the Constitution but its root, “current,” appears once, noted in SMALL CAPS below.
The term “money” appears six times, noted in bold below.
The phrase “bills of credit,” which is the archaic term for fiat paper money, appears just once, underlined below, explicitly banning states from issuing them.
The word “payment” occurs twice, once below in bold italics and once in Section 4 of the Fourteenth Amendment mandating that “payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”
The word “coin” appears five times, all noted in italics below, twice as a verb synonymous with “mint” or “manufacture,” once in reference to the power of Congress to rate foreign coins, once in reference to punishing the counterfeiting of US coins, and once barring the states from minting their own coins. It also limits the authority of states to mandate a legal tender to gold and silver coins only.
Article I, Section 8 gives Congress the power “to borrow Money on the credit of the United States” and “to coin Money, regulate the Value thereof, and of foreign Coin.” It also gives Congress the power “to provide for the Punishment of counterfeiting the Securities and CURRENT Coin of the United States” and “to raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years.”
Article I, Section 9 stipulates that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Laws; a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”
Article I, Section 10 says that “no state shall … coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts.”
The reasons for those policies are well understood and uncontroversial. Americans wanted their new nation to be a common currency area, so only the national government could have any monetary policy discretion. The stickier question was always the extent of that discretion, particularly the federal government’s ability to issue bills of credit. I believe, after much study, that the Founders and Framers would have tolerated temporary periods of fiat money issuance during wartime or other major emergencies, but that they would not consider a permanent fiat system constitutional.
That position is obviously not the prevailing one, but it is also not necessary to establish the fact that a CBDC is not an electronic form of fiat money or any other type of “currency” under the Constitution. As shown above, all three types of money specified in the Constitution — bills of credit, foreign gold and silver coins, and domestic gold and silver coins — were (and remain) physical bearer instruments. In other words, they are “current” in the sense used in Section 8 above, meaning that mere possession provides sufficient proof of their ownership. To tender current money is to turn over physical possession to another party in order to consummate a trade or pay a debt. Due to its physical nature and bearer-legal status, “money,” as used in the Constitution, can be used anonymously as a means of final payment.
In America’s constitutional context, a CBDC is a payment system, a means of exchanging money over physical distance. The Framers were aware of the payment systems provided by eighteenth century banks and merchants, but wisely made them no part of the Constitution. They did not conflate checks, bills of exchange, or other orders for the payment of money with money itself, and never made deposits or even banknotes a legal tender.
Can the Treasury or Federal Reserve proclaim that a CBDC is a new payment system that people may use instead of existing payment services? Yes, though it is not clear that a government CDBC will lower transaction costs enough to induce many to switch voluntarily.
Can the government say that CBDC is now money and confiscate Federal Reserve Notes and bank deposits like it confiscated gold during the New Deal? No, not lawfully. For all its faults, fiat paper money is similar to gold and silver coins in that all are physical-bearer instruments, and hence money in the sense used in the Constitution. A CBDC is not money because it is not a physical-bearer instrument, but rather by its very nature is trackable and cancellable, like a check or credit card payment.
$Shiba Coin is better than US CBDC!
A CBDC Would Not Be Money in the Sense Used in the Constitution
The latest fad in monetary policy circles worldwide is CBDC or Central Bank Digital Currency, a government-created cryptocurrency exchanged on a blockchain. Many fear that it would give governments complete control over individuals by allowing them to track, and even block, individual transactions and to impose taxes at will.
In the United States, though, “money” has a constitutional basis so firm that, despite its name, a US government CBDC would not be “money” or even “currency.” It could exist as one payment system among many, but without violating the US Constitution it could not be forced on Americans as the sole final means of payment.
The term “currency” never appears in the Constitution but its root, “current,” appears once, noted in SMALL CAPS below.
The term “money” appears six times, noted in bold below.
The phrase “bills of credit,” which is the archaic term for fiat paper money, appears just once, underlined below, explicitly banning states from issuing them.
The word “payment” occurs twice, once below in bold italics and once in Section 4 of the Fourteenth Amendment mandating that “payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”
The word “coin” appears five times, all noted in italics below, twice as a verb synonymous with “mint” or “manufacture,” once in reference to the power of Congress to rate foreign coins, once in reference to punishing the counterfeiting of US coins, and once barring the states from minting their own coins. It also limits the authority of states to mandate a legal tender to gold and silver coins only.
Article I, Section 8 gives Congress the power “to borrow Money on the credit of the United States” and “to coin Money, regulate the Value thereof, and of foreign Coin.” It also gives Congress the power “to provide for the Punishment of counterfeiting the Securities and CURRENT Coin of the United States” and “to raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years.”
Article I, Section 9 stipulates that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Laws; a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”
Article I, Section 10 says that “no state shall … coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts.”
The reasons for those policies are well understood and uncontroversial. Americans wanted their new nation to be a common currency area, so only the national government could have any monetary policy discretion. The stickier question was always the extent of that discretion, particularly the federal government’s ability to issue bills of credit. I believe, after much study, that the Founders and Framers would have tolerated temporary periods of fiat money issuance during wartime or other major emergencies, but that they would not consider a permanent fiat system constitutional.
That position is obviously not the prevailing one, but it is also not necessary to establish the fact that a CBDC is not an electronic form of fiat money or any other type of “currency” under the Constitution. As shown above, all three types of money specified in the Constitution — bills of credit, foreign gold and silver coins, and domestic gold and silver coins — were (and remain) physical bearer instruments. In other words, they are “current” in the sense used in Section 8 above, meaning that mere possession provides sufficient proof of their ownership. To tender current money is to turn over physical possession to another party in order to consummate a trade or pay a debt. Due to its physical nature and bearer-legal status, “money,” as used in the Constitution, can be used anonymously as a means of final payment.
In America’s constitutional context, a CBDC is a payment system, a means of exchanging money over physical distance. The Framers were aware of the payment systems provided by eighteenth century banks and merchants, but wisely made them no part of the Constitution. They did not conflate checks, bills of exchange, or other orders for the payment of money with money itself, and never made deposits or even banknotes a legal tender.
Can the Treasury or Federal Reserve proclaim that a CBDC is a new payment system that people may use instead of existing payment services? Yes, though it is not clear that a government CDBC will lower transaction costs enough to induce many to switch voluntarily.
Can the government say that CBDC is now money and confiscate Federal Reserve Notes and bank deposits like it confiscated gold during the New Deal? No, not lawfully. For all its faults, fiat paper money is similar to gold and silver coins in that all are physical-bearer instruments, and hence money in the sense used in the Constitution. A CBDC is not money because it is not a physical-bearer instrument, but rather by its very nature is trackable and cancellable, like a check or credit card payment.
XRPUSD and Shiba Coin Texas CBDC Bill ...
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Texas Bill Would Create State-Issued Gold-Backed Digital Currency
APRIL 5, 2023 BY MICHAEL MAHARREY
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Sen. Bryan Hughes (R) introduced Senate Bill 2334 (SB2334) on March 10. Rep. Mark Dorazio (R) introduced a companion, House Bill 4903 (HB4903) on the same day. The legislation would require the state comptroller to establish a digital currency that is fully backed by gold and fully redeemable in cash or gold as well. The comptroller would also be required to create a mechanism to use this gold-backed digital currency in everyday transactions.
“In establishing the digital currency the comptroller shall establish a means to ensure that a person who holds the digital currency may readily transfer or assign the digital currency to any other person by electronic means.”
The state of Texas would hold gold backing the currency in trust on behalf of the digital currency holders.
“The trustee shall maintain enough gold to provide for the redemption in gold of all units of the digital currency that have been issued and are not yet redeemed for money or gold.”
In practice, individuals would be able to purchase digital currency from the state. The state would then use the money to purchase gold that would be held in the Texas Bullion Depository or another secure vault. Individuals would be able to redeem their digital currency for dollars or gold.
CENTRAL BANK DIGITAL CURRENCIES (CBDC)
A gold-backed digital currency would create an alternative and allow individuals and businesses to avoid a CBDC.
Digital currencies exist as virtual banknotes or coins held in a digital wallet on your computer or smartphone. The difference between a central bank (government) digital currency and peer-to-peer electronic cash such as bitcoin is that the value of the CBDC is backed and controlled by the government, just like traditional fiat currency.
At the root of the move toward a CBDC is “the war on cash.” The elimination of cash creates the potential for the government to track and even control consumer spending.
Nigeria is already trying to get people to accept its CBDC (with a great deal of resistance), and China, India, and the US have all launched pilot programs to test CBDCs.
Imagine if there was no cash. It would be impossible to hide even the smallest transaction from the government’s eyes. Something as simple as your morning trip to Starbucks wouldn’t be a secret from government officials. As Bloomberg put it in an article published when China launched a digital yuan pilot program in 2020, digital currency “offers China’s authorities a degree of control never possible with physical money.”
The government could even “turn off” an individual’s ability to make purchases. Economist Thorsten Polleit outlined the potential for Big Brother-like government control with the advent of a digital euro in an article published by the Mises Wire. As he put it, “the path to becoming a surveillance state regime will accelerate considerably” if and when a digital currency is issued.
A gold-backed digital currency would create an alternative to CBDCs.
IMPACT
The creation of a state-issued gold-backed digital currency would create currency competition with Federal Reserve notes and undermine the Fed’s monopoly on money. It would also provide an alternative if the Federal Reserve implements a central bank digital currency.
Broadly speaking, by making gold conveniently available for regular, daily transactions by the general public, gold-backed digital currency would create the potential for a wide-reaching effect. Professor William Greene, an expert on constitutional tender, said in a paper for the Mises Institute that when people in multiple states actually start using gold instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.
“Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).
“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”
Gresham’s Law holds that “bad money drives out good.” For example, when the U.S. government replaced silver quarters and dimes with coins made primarily of less valuable copper, the cheap coins drove the silver out of circulation. People hoarded the more valuable silver coins and spent the less valuable copper money. So, how do you reverse Gresham?
The key is in making it easier to use gold in everyday transactions. The reason bad money drives out good is that governments put up barriers to using sound money in day-to-day life. That makes it more costly to spend gold and incentivizes hoarding. When you remove barriers, you level the playing field and allow gold and silver to compete head-to-head with Federal Reserve notes. On an even playing field, gold beats fiat money every time.
BACKGROUND
The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in Kansas are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.
The Federal Reserve destroys this constitutional monetary system by creating a monopoly based on its fiat currency. Without the backing of gold or silver, the central bank can easily create money out of thin air. This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system. Without the Fed, the U.S. government wouldn’t be able to maintain all of its unconstitutional wars and programs. The Federal Reserve is the engine that drives the most powerful government in the history of the world.
Creating a gold-backed digital currency would take another step in the process of abolishing the Federal Reserve system by attacking it from the bottom up – pulling the rug out from under it by working to make its functions irrelevant at the state and local levels, and setting the stage to undermine the Federal Reserve monopoly by introducing competition into the monetary system.
WHAT’S NEXT
At the time of this report, SB2334 and HB4903 had not been assigned to committees. Once they get committee assignments, they must get a hearing and pass by a majority vote before moving forward in the legislative process.
The Tenth Amendment Center contributed to this report.
Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
CBDC, digital currency, Federal Reserve, gold, Texas
Related Posts
Franklin D. Roosevelt’s Gold Heist
Yesterday (April 5) marked the anniversary 0f the signing of Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands. Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably […]
READ MORE ?
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About The Author
Michael Maharrey is the managing editor of the SchiffGold blog, and the host of the Friday Gold Wrap Podcast and It's Your Dime interview series.
View all posts by Michael Maharrey
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?Texas Bill Would Create State-Issued Gold-Backed Digital CurrencyApril 5, 2023
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Texas Bill Would Create State-Issued Gold-Backed Digital Currency
APRIL 5, 2023 BY MICHAEL MAHARREY
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Sen. Bryan Hughes (R) introduced Senate Bill 2334 (SB2334) on March 10. Rep. Mark Dorazio (R) introduced a companion, House Bill 4903 (HB4903) on the same day. The legislation would require the state comptroller to establish a digital currency that is fully backed by gold and fully redeemable in cash or gold as well. The comptroller would also be required to create a mechanism to use this gold-backed digital currency in everyday transactions.
“In establishing the digital currency the comptroller shall establish a means to ensure that a person who holds the digital currency may readily transfer or assign the digital currency to any other person by electronic means.”
The state of Texas would hold gold backing the currency in trust on behalf of the digital currency holders.
“The trustee shall maintain enough gold to provide for the redemption in gold of all units of the digital currency that have been issued and are not yet redeemed for money or gold.”
In practice, individuals would be able to purchase digital currency from the state. The state would then use the money to purchase gold that would be held in the Texas Bullion Depository or another secure vault. Individuals would be able to redeem their digital currency for dollars or gold.
CENTRAL BANK DIGITAL CURRENCIES (CBDC)
A gold-backed digital currency would create an alternative and allow individuals and businesses to avoid a CBDC.
Digital currencies exist as virtual banknotes or coins held in a digital wallet on your computer or smartphone. The difference between a central bank (government) digital currency and peer-to-peer electronic cash such as bitcoin is that the value of the CBDC is backed and controlled by the government, just like traditional fiat currency.
At the root of the move toward a CBDC is “the war on cash.” The elimination of cash creates the potential for the government to track and even control consumer spending.
Nigeria is already trying to get people to accept its CBDC (with a great deal of resistance), and China, India, and the US have all launched pilot programs to test CBDCs.
Imagine if there was no cash. It would be impossible to hide even the smallest transaction from the government’s eyes. Something as simple as your morning trip to Starbucks wouldn’t be a secret from government officials. As Bloomberg put it in an article published when China launched a digital yuan pilot program in 2020, digital currency “offers China’s authorities a degree of control never possible with physical money.”
The government could even “turn off” an individual’s ability to make purchases. Economist Thorsten Polleit outlined the potential for Big Brother-like government control with the advent of a digital euro in an article published by the Mises Wire. As he put it, “the path to becoming a surveillance state regime will accelerate considerably” if and when a digital currency is issued.
A gold-backed digital currency would create an alternative to CBDCs.
IMPACT
The creation of a state-issued gold-backed digital currency would create currency competition with Federal Reserve notes and undermine the Fed’s monopoly on money. It would also provide an alternative if the Federal Reserve implements a central bank digital currency.
Broadly speaking, by making gold conveniently available for regular, daily transactions by the general public, gold-backed digital currency would create the potential for a wide-reaching effect. Professor William Greene, an expert on constitutional tender, said in a paper for the Mises Institute that when people in multiple states actually start using gold instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.
“Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).
“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”
Gresham’s Law holds that “bad money drives out good.” For example, when the U.S. government replaced silver quarters and dimes with coins made primarily of less valuable copper, the cheap coins drove the silver out of circulation. People hoarded the more valuable silver coins and spent the less valuable copper money. So, how do you reverse Gresham?
The key is in making it easier to use gold in everyday transactions. The reason bad money drives out good is that governments put up barriers to using sound money in day-to-day life. That makes it more costly to spend gold and incentivizes hoarding. When you remove barriers, you level the playing field and allow gold and silver to compete head-to-head with Federal Reserve notes. On an even playing field, gold beats fiat money every time.
BACKGROUND
The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in Kansas are either paid with Federal Reserve Notes (dollars) which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.
The Federal Reserve destroys this constitutional monetary system by creating a monopoly based on its fiat currency. Without the backing of gold or silver, the central bank can easily create money out of thin air. This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system. Without the Fed, the U.S. government wouldn’t be able to maintain all of its unconstitutional wars and programs. The Federal Reserve is the engine that drives the most powerful government in the history of the world.
Creating a gold-backed digital currency would take another step in the process of abolishing the Federal Reserve system by attacking it from the bottom up – pulling the rug out from under it by working to make its functions irrelevant at the state and local levels, and setting the stage to undermine the Federal Reserve monopoly by introducing competition into the monetary system.
WHAT’S NEXT
At the time of this report, SB2334 and HB4903 had not been assigned to committees. Once they get committee assignments, they must get a hearing and pass by a majority vote before moving forward in the legislative process.
The Tenth Amendment Center contributed to this report.
Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
CBDC, digital currency, Federal Reserve, gold, Texas
Related Posts
Franklin D. Roosevelt’s Gold Heist
Yesterday (April 5) marked the anniversary 0f the signing of Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands. Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably […]
READ MORE ?
BRICS Nations Developing “New Currency” as Quest for Global De-Dollarization Accelerates
JP Morgan Head: The Banking Crisis Is Not Over
Central Bank Gold Buying Shows No Sign of Slowing Down
China-Brazil Trade Deal Ditches the Dollar
About The Author
Michael Maharrey is the managing editor of the SchiffGold blog, and the host of the Friday Gold Wrap Podcast and It's Your Dime interview series.
View all posts by Michael Maharrey
Comments are closed.
Search
Original Analysis
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?Texas Bill Would Create State-Issued Gold-Backed Digital CurrencyApril 5, 2023
?Franklin D. Roosevelt’s Gold HeistApril 5, 2023
?Trade Deficit Increases Again in February to $70.5 BillionApril 5, 2023
?BRICS Nations Developing “New Currency” as Quest for Global De-Dollarization AcceleratesApril 5, 2023
?JP Morgan Head: The Banking Crisis Is Not OverApril 5, 2023
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Florida Governor Ron DeSantis Introduces State Legislation Banning CBDCs
DeSantis said CBDCs are all about “surveilling” and “controlling” the populace.
By André Beganski
Mar 20, 2023
Florida Governor Ron DeSantis proposed legislation on Monday that would ban central bank digital currencies (CBDCs) from the Sunshine State, portraying it as a measure to safeguard Floridians’ financial privacy.
The legislation would prohibit in Florida any CBDC that the U.S. Federal Reserve could introduce and any created by a foreign government, outlawing the technology entirely from being used as a form of money within the state.
DeSantis introduced the legislation from behind a podium with the phrase “Big Brother’s Digital Dollar” plastered across it. He skewered the technology as a vehicle that could lead to government overreach and pave the way for financial surveillance.
“What [a] central bank digital currency is all about is surveilling Americans and controlling Americans,” he said. “You're opening up a major can of worms, and you're handing a central bank huge, huge amounts of power, and they will use that power.”
In interviews with Decrypt, ShapeShift founder Erik Voorhees has also called CBDCs “Orwellian,” and whistleblower Edward Snowden has called them “cryptofascist currencies.”
CBDCs are similar to stablecoins in that they are pegged to the price of a sovereign currency like the U.S. dollar. But CBDCs are issued and maintained by a nation state or central bank instead of minted by private companies on decentralized networks like Tether’s USDT or Circle’s USDC, the two largest stablecoins by market cap.
The Fed has explored the idea of a CBDC since 2016, and the U.S. central bank has repeatedly said it would need approval from congress before launching one. Analysts have said the technology could foster more financial inclusion—banking the unbanked—but critics oppose it due to the possibility of financial surveillance and an expansion of government control.
Though the Fed has said it’s still in the early stages of researching a CBDC and hasn’t determined whether launching one would be worth it, the idea that a digital dollar is a threat to civil liberties has gained traction in Republican circles. China launched its own CBDC, the Digital Yuan, last year, which supporters of a U.S. CBDC have referenced to suggest the U.S. risks falling behind on the technology, while critics have said it simply illustrates China’s continued capital controls.
During his remarks, DeSantis called out the crypto executive order from President Biden last year that directed government agencies to get aligned on a crypto roadmap. It included a section titled “Exploring a U.S. Central Bank Digital Currency (CBDC).”
Without explicitly naming names, DeSantis said that CBDCs would be used to “exercise their agenda” if introduced, including, he argued, limiting the amount of gasoline a person could purchase or preventing them from buying a firearm.
The Florida governor called on other states to enact similar legislation prohibiting CBDCs. He said that Texas seemed likely to follow, given conversations he’s had with Dan Patrick, the state’s lieutenant governor.
DeSantis hasn’t yet declared whether he’ll run to become the GOP’s next presidential nominee. Still, he’s considered one of the leading candidates based on recent surveys, according to Morning Consult’s 2024 GOP Primary Tracker.
And DeSantis isn’t the only conservative voice that’s recently taken aim against a CBDC in the U.S.
Republican House Majority Whip Tom Emmer (R-MN) reintroduced legislation last month limiting the Fed’s ability to issue a CBDC directly to American consumers. And earlier this month, Emmer spoke before the Cato Institute about CBDCs, where he said the technology would erode Americans’ financial privacy.
Fox News host Tucker Carlson recently connected the collapse of Silicon Valley Bank to the potential rollout of a CBDC on his show “Tucker Carlson Tonight.” While he cautioned, “we’re not alleging a conspiracy here,” he also alleged that bank consolidation will lead to more government control and a CBDC being launched.
“If people don’t start making a lot of noise and exerting a lot of pressure, it’ll mean... a currency that politicians control,” Carlson said. “Sign up for the CBDC app today to get your food stamps.”
XRPUSD and Shiba Coin are American Freedom and its Future!
Florida Governor Ron DeSantis Introduces State Legislation Banning CBDCs
DeSantis said CBDCs are all about “surveilling” and “controlling” the populace.
By André Beganski
Mar 20, 2023
Florida Governor Ron DeSantis proposed legislation on Monday that would ban central bank digital currencies (CBDCs) from the Sunshine State, portraying it as a measure to safeguard Floridians’ financial privacy.
The legislation would prohibit in Florida any CBDC that the U.S. Federal Reserve could introduce and any created by a foreign government, outlawing the technology entirely from being used as a form of money within the state.
DeSantis introduced the legislation from behind a podium with the phrase “Big Brother’s Digital Dollar” plastered across it. He skewered the technology as a vehicle that could lead to government overreach and pave the way for financial surveillance.
“What [a] central bank digital currency is all about is surveilling Americans and controlling Americans,” he said. “You're opening up a major can of worms, and you're handing a central bank huge, huge amounts of power, and they will use that power.”
In interviews with Decrypt, ShapeShift founder Erik Voorhees has also called CBDCs “Orwellian,” and whistleblower Edward Snowden has called them “cryptofascist currencies.”
CBDCs are similar to stablecoins in that they are pegged to the price of a sovereign currency like the U.S. dollar. But CBDCs are issued and maintained by a nation state or central bank instead of minted by private companies on decentralized networks like Tether’s USDT or Circle’s USDC, the two largest stablecoins by market cap.
The Fed has explored the idea of a CBDC since 2016, and the U.S. central bank has repeatedly said it would need approval from congress before launching one. Analysts have said the technology could foster more financial inclusion—banking the unbanked—but critics oppose it due to the possibility of financial surveillance and an expansion of government control.
Though the Fed has said it’s still in the early stages of researching a CBDC and hasn’t determined whether launching one would be worth it, the idea that a digital dollar is a threat to civil liberties has gained traction in Republican circles. China launched its own CBDC, the Digital Yuan, last year, which supporters of a U.S. CBDC have referenced to suggest the U.S. risks falling behind on the technology, while critics have said it simply illustrates China’s continued capital controls.
During his remarks, DeSantis called out the crypto executive order from President Biden last year that directed government agencies to get aligned on a crypto roadmap. It included a section titled “Exploring a U.S. Central Bank Digital Currency (CBDC).”
Without explicitly naming names, DeSantis said that CBDCs would be used to “exercise their agenda” if introduced, including, he argued, limiting the amount of gasoline a person could purchase or preventing them from buying a firearm.
The Florida governor called on other states to enact similar legislation prohibiting CBDCs. He said that Texas seemed likely to follow, given conversations he’s had with Dan Patrick, the state’s lieutenant governor.
DeSantis hasn’t yet declared whether he’ll run to become the GOP’s next presidential nominee. Still, he’s considered one of the leading candidates based on recent surveys, according to Morning Consult’s 2024 GOP Primary Tracker.
And DeSantis isn’t the only conservative voice that’s recently taken aim against a CBDC in the U.S.
Republican House Majority Whip Tom Emmer (R-MN) reintroduced legislation last month limiting the Fed’s ability to issue a CBDC directly to American consumers. And earlier this month, Emmer spoke before the Cato Institute about CBDCs, where he said the technology would erode Americans’ financial privacy.
Fox News host Tucker Carlson recently connected the collapse of Silicon Valley Bank to the potential rollout of a CBDC on his show “Tucker Carlson Tonight.” While he cautioned, “we’re not alleging a conspiracy here,” he also alleged that bank consolidation will lead to more government control and a CBDC being launched.
“If people don’t start making a lot of noise and exerting a lot of pressure, it’ll mean... a currency that politicians control,” Carlson said. “Sign up for the CBDC app today to get your food stamps.”
$Shiba Coin wins with Ripple News! ...
$XRPUSD Ripple Has Already Won!
No Matter What Happens With the SEC, Ripple Has Already Won
Ripple fighting the SEC for years is a major green flag for crypto these days
BY DAVID CANELLIS
APRIL 6, 2023 02:38 PM
Andrey Burmakin/Shutterstock modified by Blockworks
Ripple (XRP) has long served as a punching bag for jaded crypto folk. Until Gary Gensler.
Gensler is the Cruella de Vil to crypto’s 101 market caps.
The SEC has come for Kraken, Genesis and Gemini, although it was very late to the latter two. Gensler has prosecuted LBRY and sued degenerate-in-chief Justin Sun over his TRX and bittorrent offerings just last month. Now, he’s even angling for the biggest fish — Coinbase — posturing to sue the top US crypto exchange for trading in (alleged) unregistered securities.
But while the SEC has dished out more than 80 enforcement actions against crypto startups since 2017 — 30 of them last year — there is one case that trumps almost all others. The SEC vs. Ripple.
Although many crypto industry observers previously saw Ripple as the butt of the joke, the SEC case (win or lose) is sparking what appears to be a 180 degree change in how crypto diehards view the long-derided company.
Gensler is adamant there’s no need for crypto-specific securities laws. And among those 80 or so cases against crypto startups are instances of outright fraud and other misdealings. Those efforts must be applauded.
But in the background all along, from before Gensler’s time, Ripple has been funding a full-scale legal defense against the US securities regulator. It has also publicly refused to settle, bucking the trend of crypto startups ponying up to SEC fines.
Critics would have once said that XRP is a centralized, entirely premined with Ripple Labs awarding itself 80% of the supply from the get go. Others would take offense on a more philosophical level: XRP is the banker’s crypto, built to strengthen the existing finance system that Bitcoin was so immaculately conceived to undermine.
But today, if crypto insiders were looking through their enemies’ enemies for new friends, Ripple and Garlinghouse are top of the pile.
A badge of honor
Ripple jokes aren’t only for Bitcoin maxis
Ripple Labs CEO Brad Garlinghouse has never exactly tried to mend the divide between Ripple and the rest of the crypto world.
His $5 million “Change the Code, not the Climate” campaign, launched alongside Greenpeace last year, aims to convince Bitcoin to ditch proof-of-work mining with newspaper ads and whatnot.
But the stunt has amounted to more annoyance than any real clout. Bitcoiners even ironically adopted the campaign’s apocalyptic mascot.
Despite the ongoing SEC strife, Ripple also claims its business is better than ever. Institutions do seem increasingly eager to use its crypto-powered payment rails: Ripple now discloses billions in quarterly revenue from selling XRP over the counter for use on RippleNet, spending a near-equal amount to rebuy the token on public markets.
Not that it really matters. XRP has persistently been one of the most valuable blockchain projects in the world. There’s a certain Lindy effect that comes with nearly a decade of staying power in crypto.
All this we know. The interesting part isn’t that Ripple is considered to a success in spite of its detractors — it’s interesting now who considers Ripple a success. It took crypto’s no. 1 villain, Gary Gensler, to fully legitimize the project in the eyes of the formerly-dubious crypto crowd.
It used to be that crypto startups were cursed if their tokens were labeled securities — something must be wrong with the project if even the SEC knows it’s centralized.
But now, the agency’s fixation on interest-bearing crypto accounts — Coinbase’s proposed lending product and Kraken’s staking as a service offerings — has set the stage for Ripple’s redemption arc.
It seems realistic that the SEC case could cripple Ripple outright. But the case may well have secured Ripple’s reputation for good.
If Ripple wins, it will have defeated Goliath, to be crowned a crypto champion. Ripple’s reputation would only be steelmanned if it lost. A monumental fine could hypothetically bankrupt the firm, but considering its current revenues, it’s unlikely.
It could be that nothing really changes for Ripple after the case concludes — win, lose or jury trial.
Except, one major shift: The magnetic poles of the crypto industry have flipped. XRP is now bona fide in the eyes of a once-hostile industry.
All thanks to the SEC ...
And Shiba wins too!
David is an Editor based in The Netherlands focused on data-driven journalism. Previously, he wrote for TheNextWeb’s crypto vertical before launching Protos in 2021. He’s a reformed hardline Bitcoiner passionate about permissionless and decentralized networks. Contact David at david@blockworks.co
$XRPUSD Ripple Has Already Won!
No Matter What Happens With the SEC, Ripple Has Already Won
Ripple fighting the SEC for years is a major green flag for crypto these days
BYDAVID CANELLIS
APRIL 6, 2023 02:38 PM
Andrey Burmakin/Shutterstock modified by Blockworks
Ripple (XRP) has long served as a punching bag for jaded crypto folk. Until Gary Gensler.
Gensler is the Cruella de Vil to crypto’s 101 market caps.
The SEC has come for Kraken, Genesis and Gemini, although it was very late to the latter two. Gensler has prosecuted LBRY and sued degenerate-in-chief Justin Sun over his TRX and bittorrent offerings just last month. Now, he’s even angling for the biggest fish — Coinbase — posturing to sue the top US crypto exchange for trading in (alleged) unregistered securities.
But while the SEC has dished out more than 80 enforcement actions against crypto startups since 2017 — 30 of them last year — there is one case that trumps almost all others. The SEC vs. Ripple.
Although many crypto industry observers previously saw Ripple as the butt of the joke, the SEC case (win or lose) is sparking what appears to be a 180 degree change in how crypto diehards view the long-derided company.
Gensler is adamant there’s no need for crypto-specific securities laws. And among those 80 or so cases against crypto startups are instances of outright fraud and other misdealings. Those efforts must be applauded.
But in the background all along, from before Gensler’s time, Ripple has been funding a full-scale legal defense against the US securities regulator. It has also publicly refused to settle, bucking the trend of crypto startups ponying up to SEC fines.
Critics would have once said that XRP is a centralized, entirely premined with Ripple Labs awarding itself 80% of the supply from the get go. Others would take offense on a more philosophical level: XRP is the banker’s crypto, built to strengthen the existing finance system that Bitcoin was so immaculately conceived to undermine.
But today, if crypto insiders were looking through their enemies’ enemies for new friends, Ripple and Garlinghouse are top of the pile.
A badge of honor
Ripple jokes aren’t only for Bitcoin maxis
Ripple Labs CEO Brad Garlinghouse has never exactly tried to mend the divide between Ripple and the rest of the crypto world.
His $5 million “Change the Code, not the Climate” campaign, launched alongside Greenpeace last year, aims to convince Bitcoin to ditch proof-of-work mining with newspaper ads and whatnot.
But the stunt has amounted to more annoyance than any real clout. Bitcoiners even ironically adopted the campaign’s apocalyptic mascot.
Despite the ongoing SEC strife, Ripple also claims its business is better than ever. Institutions do seem increasingly eager to use its crypto-powered payment rails: Ripple now discloses billions in quarterly revenue from selling XRP over the counter for use on RippleNet, spending a near-equal amount to rebuy the token on public markets.
Not that it really matters. XRP has persistently been one of the most valuable blockchain projects in the world. There’s a certain Lindy effect that comes with nearly a decade of staying power in crypto.
All this we know. The interesting part isn’t that Ripple is considered to a success in spite of its detractors — it’s interesting now who considers Ripple a success. It took crypto’s no. 1 villain, Gary Gensler, to fully legitimize the project in the eyes of the formerly-dubious crypto crowd.
It used to be that crypto startups were cursed if their tokens were labeled securities — something must be wrong with the project if even the SEC knows it’s centralized.
But now, the agency’s fixation on interest-bearing crypto accounts — Coinbase’s proposed lending product and Kraken’s staking as a service offerings — has set the stage for Ripple’s redemption arc.
It seems realistic that the SEC case could cripple Ripple outright. But the case may well have secured Ripple’s reputation for good.
If Ripple wins, it will have defeated Goliath, to be crowned a crypto champion. Ripple’s reputation would only be steelmanned if it lost. A monumental fine could hypothetically bankrupt the firm, but considering its current revenues, it’s unlikely.
It could be that nothing really changes for Ripple after the case concludes — win, lose or jury trial.
Except, one major shift: The magnetic poles of the crypto industry have flipped. XRP is now bona fide in the eyes of a once-hostile industry.
All thanks to the SEC.
David is an Editor based in The Netherlands focused on data-driven journalism. Previously, he wrote for TheNextWeb’s crypto vertical before launching Protos in 2021. He’s a reformed hardline Bitcoiner passionate about permissionless and decentralized networks. Contact David at david@blockworks.co
$Shiba News! Shiba Inu Investor Regrets Selling Early: ‘I Would Have Made $1 Billion’
Vinod Dsouza
March 17, 2023
Source: Pixabay
A cryptocurrency investor who purchased Shiba Inu during its initial days revealed that he deeply regrets selling the token early. The investor had purchased $2,000 worth of SHIB in January 2021 a few weeks before it started to rally. SHIB was trading at $0.000000000077295 (10 zeroes) at that time but little did the investor know that the token would quickly delete six ‘zeroes’ within 10 months.
Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire With Only $10
An investment of $2,000 got the user to accumulate 25,874,894,883,239 (25 trillion tokens) at that time in January 2021. The investor revealed that when SHIB dropped in price the next few days after his purchase, he panicked and sold all the tokens for a loss.
In his defense, SHIB was among the worst-performing cryptocurrencies in 2020 and the investor didn’t want to risk his money. Therefore, he was fearful and pulled out assuming, that his investment could tank and never recover. For context, SHIB’s price value dropped at a percentage of a $100 investment dropping to $2 in two months.
Also Read: Shiba Inu: AI Predicts SHIB Price For March 31, 2023
Shiba Inu: Investor Misses Making $1 Billion By Selling Early
Source: Unsplash
Call it misfortune or bad decision, the 25 trillion tokens would have been worth $1 billion in the same year in October 2021. SHIB reached its all-time high of $0.00008616 after 10 months of him dumping trillions of tokens. It spiked 67,000,000% (67 million percent) and the $2,000 could have ballooned to $1 billion. The investor gave his reaction in a TikTok video in October 2021 after seeing the token reach its all-time high.
Also Read: How Much ‘Percent’ Must SHIB Rise To Reach $0.01?
“I just got a message from a couple of mates and they told me that Shiba Inu has gone up 67 million percent since January. Now in January (2021) I was browsing Reddit and came across a recommendation for buying meme currencies. One of them was SHIB. At that time I put $2,000 into it and I left it for a couple of weeks. It went down and I sold it for a loss.”
He added, “It turns out that would now be worth $1 billion if I hadn’t sold it.” The investor ended the video by saying, “Now how to live with that?” You can watch the video below.
Also Read: Early Bitcoin Adopter Urges Investors To Buy SHIB
shiba inu
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
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$Shiba Coin is The Future! ...
Millions of Businesses Can Now Accept SHIB, BTC to Break $30,000 Max Keiser Says, SHIB Metaverse Advisor Meets Paramount Futurist: Crypto News Digest by U.Today
News
Wed, 03/15/2023 - 16:01
Valeria Blokhina
Take a closer look at what’s happening in the world of crypto with U.Today’s news digest!
Cover image via www.freepik.com
Read U.TODAY on
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Contents
Shiba Inu: a million businesses can now accept SHIB, swap for 160 currencies via this solution
Bitcoin to break $30,000, Max Keiser says, slamming CZ of Binance; here’s why
Shiba Inu Metaverse advisor meets Paramount futurist, here's why it may be important
Shiba Inu (SHIB) whales waking up, data shows
Here are the top four news stories presented to you by U.Today.
Shiba Inu: a million businesses can now accept SHIB, swap for 160 currencies via this solution
Crypto payment gateway NOWPayments has announced that it is now offering a special fiat-to-crypto payment solution created in partnership with Guardarian. Thanks to this solution, millions of businesses will now be able to accept SHIB and swap it into more than 160 currencies. NOWPayments also allows online merchants to accept SHIB token payments via special plugins compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart and many more. Meanwhile, SHIB is seeing an increase in its burn rate - yesterday it spiked by 202% as 31,978,306 SHIB were sent to dead wallets. The asset’s price reacted positively to the increase, rising by 10% to $0.0000116; however, today, the meme token pared its gains and is currently trading at $0.0000109.
Related
Shiba Inu (SHIB) Correlation With Bitcoin at Its Highest YTD, Here's What's Coming Next
Bitcoin to break $30,000, Max Keiser says, slamming CZ of Binance; here’s why
In a recent tweet, former trader and BTC bull Max Keiser shared that he expects Bitcoin to surpass the $30,000 level. His post reads: “When Bitcoin breaks $30,000 CZ’s shorts start hammering him badly. Squeeze harder, degens!!” What Keiser is referring to by mentioning head of Binance Changpeng Zhao (“CZ”) and his “shorts” could be massive liquidations made by the exchange yesterday as Bitcoin soared above the $26,000 level. Per on-chain data, $99.9 million worth of crypto was liquidated by Binance, with 77.38% of those being short positions. As for the most likely reason for BTC’s sudden growth, it could lie in the released February Consumer Price Index (CPI) — it has seen an inflation drop from 6.4% to 6.0% on the YOY basis over January, as was expected by economists.
Shiba Inu Metaverse advisor meets Paramount futurist, here's why it may be important
Shytoshi Kusama, the lead developer of the Shiba Inu project, has taken to Twitter to draw attention to a discussion that happened at the SXSW 2023 event between Shiba Inu Metaverse’s advisor Marcie Jastrow and Ted Schilowitz, futurist at Paramount Pictures studio. Kusama attached a link to a tweet by SHIB community member @scorchia_moon, who was first to spot the meeting and commented on it with "probably nothing." The lead dev replied to it with a GIF saying "maybe nothing, maybe everything." The community is already speculating about the purpose of Jastrow and Schilowitz’s conversation. Some SHIB enthusiasts suggested that the two could have been discussing a potential collaboration and use of SHIB Metaverse in movies.
Shiba Inu (SHIB) whales waking up, data shows
The average transaction size of Shiba Inu has recently seen a significant increase by almost 50%. Such an increase could be an indicator of SHIB whales' growing activity, which is pushing massive amounts of tokens and potentially driving up demand for the cryptocurrency. At the moment, the average transaction size on the Shiba Inu network stands at around $11,000. In comparison to earlier levels, which were roughly $7,000, we can see substantial growth. The sudden rise in transaction size suggests that large players such as whales are becoming more active on the network and pushing up demand for SHIB tokens.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
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03/15/2023 - 16:15
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$Shiba Coin New Website! ...
Shiba Inu Launches Revamped Shib.io Website With New Metaverse Branding
March 15, 2023
By
Patrick
Blockchain News
The new Shiba website includes a “quick buy” option to purchase lands in Shib the Metaverse.
‘Quick Buy’ Option for Metaverse Land
Shiba Inu has launched a revamped Shib.io website with new branding for its Shib the Metaverse game. The new-look website also includes a “Quick Buy” option for users to purchase land in the metaverse.
Announcing the website reveal, the MemeFi project included a 113-second video previewing Shib the Metaverse, including different environments and village scenes. In the past few days, the Shiba team officially unveiled its metaverse at the SXSW Festival in Austin, Texas, starting with the first Hub called WAGMI Temple.
Shib the Metaverse is a key piece of the complex ecosystem Shib is developing, anchored by the Ethereum layer-2 Shibarium network. The public beta testnet, nicknamed “PUPPYNET,” launched on March 11.
What is Shiba Token:
Shiba Token (SHIB) is home to the Shiba Inu Ecosystem, an interconnected family of digital assets and solutions built on the Ethereum blockchain. Its tokens include $SHIB, $LEASH, and $BONE, plus native SHIBOSHIs NFTs. SHIB solutions include SHIB: The Metaverse and the ShibaSwap DEX. SHIB, a world-leading decentralized finance (DeFi) cryptocurrency, has gained popularity among millions of investors worldwide. It has 3.6 million Twitter followers and is frequently ranked as the third most searched project by Google. The Shibarium Layer 2 blockchain enables SHIB to provide increased scalability, security and innovation.
Where to find Shiba Inu:
Website | Twitter | Telegram | Discord |
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Originally from Texas, Patrick is based in the Cayman Islands. He has a diverse background in journalism. He holds bags mostly in stablecoins
$Shiba Coin and Great News! ...
The guy who cashed out the most in the bear market now says RenQ Finance (RENQ) and Shiba Inu (SHIB) will lead to the Bull market of 2023
IndustryTrends
March 14, 2023
3 mins read
The cryptocurrency market is known for its volatility, with prices fluctuating wildly in response to a range of factors. In the past, investors who have cashed out during bear markets have been viewed as savvy, but what happens when they start making predictions for the future?
Recently, a well-known cryptocurrency trader who made a fortune by cashing out during the bear market has made some bold predictions for the future, specifically about RenQ Finance (RENQ) and Shiba Inu (SHIB).
In this article, we will delve into these predictions and examine why these cryptocurrencies are worth keeping an eye on.
Who is the guy behind the prediction?
Before we delve into the predictions themselves, let’s take a look at the guy behind them. The trader in question is known as “CryptoWhale”, and he is a well-known figure in the cryptocurrency community.
In the past, he has been known for his accurate predictions and his ability to read market trends. However, he is also known for being controversial, and his predictions have been known to cause a stir in the cryptocurrency community.
RenQ Finance (RENQ)
According to CryptoWhale, RenQ Finance (RENQ) is one of the cryptocurrencies that will lead the bull market of 2023. So, what is RenQ Finance, and why is it worth keeping an eye on?
RenQ Finance is a blockchain-based decentralized finance (DeFi) platform that provides a variety of financial services to its users, such as lending, borrowing, and trading of cryptocurrencies.
One of the platform’s distinguishing features is its innovative governance system, which allows users to actively participate in decision-making processes related to the platform’s development.
By leveraging the power of blockchain technology, RenQ Finance offers a transparent and secure platform for users to engage in decentralized financial activities without the need for intermediaries. With its focus on community-driven development and user-friendly approach, RenQ Finance is quickly becoming a popular choice among investors and traders alike.
RenQ Finance’s partnership with Certik Audit, a renowned security-focused ranking platform that analyzes and monitors blockchain protocols and DeFi projects, is another significant factor that makes RenQ Finance a project worth watching.
Through this partnership, RenQ Finance has gained the trust of investors who value security and transparency in their investments.
Shiba Inu (SHIB)
The other cryptocurrency that CryptoWhale predicts will lead the bull market of 2023 is Shiba Inu (SHIB). Shiba Inu is a meme-inspired cryptocurrency that was created in 2020. While it was initially created as a joke, it has gained a significant following in recent months, and its price has surged.
So, why does CryptoWhale think that Shiba Inu will lead the bull market of 2023?
One reason is that Shiba Inu has a large and dedicated community of supporters who are passionate about the coin. This community has helped to drive the coin’s price up in the past, and it could potentially do the same in the future.
Furthermore, Shiba Inu is an exciting cryptocurrency to watch out for due to its decentralized exchange (DEX), ShibaSwap. The DEX provides users with a transparent and decentralized way to trade Shiba Inu and other cryptocurrencies.
Additionally, Shiba Inu’s ecosystem is expanding rapidly with its extensive SHIB roadmap and the upcoming launch of Shibarium, a blockchain/layer-2 solution proposed by the creator of Shiba Inu. The migration of SHIB to the L2 after Shibarium’s launch further enhances the scalability and efficiency of the Shiba Inu platform.
Conclusion
While the predictions of CryptoWhale should be taken with a grain of salt, there is no denying that RenQ Finance (RENQ) and Shiba Inu (SHIB) are two cryptocurrencies worth keeping.
They both have unique features that could potentially make them leaders in the cryptocurrency market, and their partnerships and upcoming developments could drive their value up.
However, as with all investments, it is important to do your research and make informed decisions based on your own risk tolerance and financial goals. While the bull market of 2023 is upon us, it is never too early to start researching potential investments and keeping an eye on market trends.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Presale: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
$Shiba Coin Clothes Designer! ...
John Richmond Enters SHIB The Metaverse as Premiere Fashion Partner
March 14, 2023 at 11:54 AM EDT
John Richmond Enters SHIB The Metaverse as Premiere Fashion Partner Rock & Roll Fashion Icon’s Latest Innovation Bridges Web3, Digital Wearables and IRL Styles to Super-Strong #ShibArmy in the Shiba Inu Token Ecosystem Business Wire AUSTIN, Texas -- March 14, 2023 The renowned rock-style fashion brand John Richmond has officially expanded into the next dimension, as the premiere fashion partner of SHIB The Metaverse. The new Web3 world is a bold next step of the popular Shiba Inu Ecosystem, whose token is consistently ranked in the Top 15 of all cryptocurrencies by market cap and serves as inspiration for the super-strong #ShibArmy community. SHIB: The Metaverse will be on full display at this year’s SXSW XR Experience throughout SXSW 2023 from March 13-15. Already a unique visual experience, SHIB The Metaverse is now more stylish than ever, giving visitors the opportunity to dress their avatars in the free and premium digital wearables created by John Richmond. In addition to the ability to purchase one-of-a-kind NFTs to wear in SHIB The Metaverse, some buyers will also be able to obtain a duplicate outfit they can wear In Real Life (IRL). “John Richmond and SHIB, The Metaverse have a great spirit of innovation in common,” says Mena Marano, CEO of Arav Group, the parent company of John Richmond. “Just as Shiba Inu has broken new ground in cryptocurrency, John Richmond constantly pushes the envelope with his rebellious rock-inspired style. Together, we’re laying a new foundation for fashion in the metaverse.” By teaming up with SHIB The Metaverse, John Richmond once again applies his out-of-the-box thinking to reaching savvy new audiences. This new partnership connects the fashion brand to the unparalleled Web3 strength of the ShibArmy, a passionate six-million-plus community that’s always eager to be on the cutting edge. In the process, John Richmond will be able to quickly gauge the reaction to daring new designs, gaining valuable instant feedback from the highly engaged SHIB audience. The John Richmond partnership is the latest in a wave of significant SHIB The Metaverse announcements from SXSW. In other developments, it was revealed that SHIB The Metaverse will be built on top of Shibarium, Shiba Inu’s highly anticipated Ethereum Layer 2 (L2) blockchain. Additionally, festival attendees will get an exclusive preview of WAGMI Temple, the first of 11 HUBs in SHIB: The Metaverse. Opportunities are now available to purchase land on SHIB The Metaverse. With his arrival in SHIB The Metaverse, John Richmond is staying true to his roots as a fashion disruptor, entering uncharted territory by converging apparel, Web3, and E-commerce. “The rock & roll DNA of John Richmond means we never rest – we’re always talking to our customers in new ways,” Marano concludes. “John Richmond’s partnership with SHIB The Metaverse is bringing two bold worlds together.” SHIB The Metaverse, can be experienced at this year’s SXSW Immersive XR Booth #701 Fairmount Austin, Congressional Ballroom A. The VR/AR experience showcase is open to all badge holders at SXSW 2023, taking place March 13-15, 2022, in Austin, Texas. About SHIB: SHIB is home to the Shiba Inu Ecosystem, an interconnected family of digital assets and solutions built on the Ethereum blockchain. Its tokens include $SHIB, $LEASH, and $BONE, plus native SHIBOSHIs NFTs. SHIB's ecosystem works closely with other projects including SHIB The Metaverse and the ShibaSwap DEX. SHIB, a world-leading decentralized finance (DeFi) cryptocurrency, has gained popularity among millions of holders worldwide. It has 3.6 million Twitter followers and is frequently ranked as the third most searched project by Google. The Shibarium Layer 2 blockchain provides increased scalability, security and innovation. To learn more about SHIB The Metaverse visit https://www.shib.io. To learn more about SHIB, please visit the official website: https://shibatoken.com/. To learn more about or join the beta for Shibarium Technology visit: https://www.shibariumtech.com. About John Richmond: John Richmond, historic brand that became famous around the world for rock-inspired collections, has taken up where it left off and is forging a new plan for stylistic development and international expansion. Rock, glamorous, iconic, evocative, and immediately available. It marks a return as well as presaging the future. A contemporary lifestyle brand with a unique design. The music inspiration is not a nostalgic return to the disruptive music scene of the past, but the development of the narrative skills of a society that is constantly changing. In those years, John Richmond expands his brand extension line from W+M RTW and kids, to perfumes and other retails channels like vending machines. Constantly growing and digitalizing, John Richmond is confirming its path with success on the international scene. About SXSW: SXSW dedicates itself to helping creative people achieve their goals. Founded in 1987 in Austin, Texas, SXSW is best known for its conferences and festivals that celebrate the convergence of tech, film and television, music, education, and culture. An essential destination for global professionals, the annual March event features sessions, music, and comedy showcases, film & TV screenings, exhibitions, professional development, and a variety of networking opportunities. SXSW proves that the most unexpected discoveries happen when diverse topics and people come together. SXSW 2023 will take place March 10 - 19, 2023 in Austin. For more information, please visit https://www.sxsw.com/. View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005829/en/ Contact: Eric Eddy, Metaverse PR,
$XRPUSD Big Law Ruling News! ...
Ripple Vs. SEC: Judge Issues Ruling On Daubert Motions, Here’s Who Won
By Jake Simmons
SEC vs Ripple
In the legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, Judge Analisa Torres has issued an initial ruling, but it is not the summary judgment ruling. Instead, the judge has issued a 57-page ruling on both parties’ motions to exclude expert testimony from summary judgment (“Daubert” motions).
At first glance, neither Ripple nor the SEC wins. The SEC’s motions are granted in part and denied in part, and Ripple’s motions are granted in part and denied in part.
In this context, Scott Chamberlain, a former attorney and co-founder of Evernode XRPL, stated, “Neither side gets everything it asked for because neither side had impeccable arguments for everything it wanted. What leaps out is how sharp, rigorous, and utterly impartial Judge Torres is.”
Here’s What The Ruling Means For Ripple
As Chamberlain explains, no clear winner or loser can be derived from the ruling. However, the win goes to Ripple when it comes to one of the most important outcomes of the ruling, the exclusion of the number 1 expert witness, Patrick Doody. This is who the SEC had hired to analyze the expectations of XRP buyers.
XRP community attorney Jeremy Hogan commented on Twitter that the SEC must prove that investors had a “responsible” expectation of profits from Ripple’s efforts, for this Doody was crucial:
And the Judge just struck the SEC’s ONLY Expert Witness on that subject. So, now, how the heck can the SEC prove “reasonable” reliance? Who will testify? Just thinking out loud. :)
A ruling in favor of the SEC was made by Judge Torres on expert witness number 3, which Ripple called “irrelevant and unreasonably prejudicial”. The judge acknowledges that the expert’s testimony “about Defendants’ incentives and actions to influence the price of XRP is directly relevant” to the final element of the Howey test for an investment contract.
Hogan writes in this regard that the judge thinks that “expert #3’s opinion as to Ripple’s incentives and actions to influence XRP price is relevant to the issue of reasonable expectation of profits.” But, seems fairly weak sauce to me.”
Related Reading: Judge In Ripple Case Is Not Part Of ‘Deep State,’ Contradicts Lawyer
Another of several bad outcomes for the SEC from the Daubert challenges is that SEC lawyers tried to get Judge Torres to bar XRP community attorney John E. Deaton from participating in the case, in part because he revealed the name of their expert witness. Instead, she not only did not ban Deaton, but agreed with him that Doody should not testify on behalf of XRP holders.
More Arguments For Ripple
Another XRP community lawyer, Bill Morgan, has also found some arguments as to why the judge’s rulings could easily have been in Ripple’s favor.
As Morgan writes, in its summary judgment motion, the SEC alleged at least six actions that Ripple took to boost the price of XRP. In relation to this, the SEC also lost strength because the judge denied Dr. Metz’s opinion that Ripple’s announcements caused the XRP price increase.
Related Reading: Ripple Will Appeal Immediately If It Loses To SEC, Chief Legal Officer Says
In addition, Morgan is “pleased” that most of Alan Schwartz’s report is allowed. This is relevant to the “Blue Sky” question. Schwartz will be allowed to testify about Ripple’s contracts and how they differ from the Howey contracts. “That’s important,” Morgan said.
Further, the judge accepted that the contracts and their terms were relevant to the question of whether there was an investment contract. She noted that Schwartz’s evidence is relevant to that analysis. Morgan went on to say:
I was also heartened that the judge accepts that XRP having a use is relevant to the inquiry as to the third prong of Howey. I thought Adriaen’s opinion on this issue which the judge allowed was more important than the two opinions she denied.
So, all in all, it’s not an outright victory for Ripple, but it’s certainly encouraging. The XRP price has reacted cautiously to the release, rising 2.4% in the last 24 hours. At press time, XRP was trading at $0.3786.
Ripple XRP price
XRP price, 4-hour chart | Source: XRPUSD on TradingView.com
Featured image from Sergeitokmakov / Pixabay, Chart from TradingView.com
$Shiba Coin Top NFT Projects! ...
Shiba Inu Leads on Certik Top 10 Watched NFT Projects
DATE:
MARCH 13, 2023
WRITTEN BY:
ALBERT BROWN
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The development comes shortly after Shibarium beta was released following months of anticipation.
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Shiba Inu recently secured the top position on Certik’s top 10 watchlisted NFT projects. This development comes without surprise as Shiba Inu has recently gained tremendous popularity and attention, mainly due to the buzz surrounding the Shibarium L2 solution.
Certik recently disclosed its top 10 list of watched NFT projects. Data from the list reveals that ApeCoin, The Sandbox, and Decentraland are immediately below Shiba Inu. Furthermore, Axie Infinity, Chiliz, and Fetch.ai secured fifth, sixth, and seventh positions.
The growing hype surrounding Shibarium, the layer-2 network solution for the Shiba Inu ecosystem, has contributed to the surge in investor interest. This interest has significantly increased with the recent launch of the Shibarium beta phase.
A dive into Certik’s overall watchlist reveals that Shiba Inu is second on the top 10 list of watched projects across all ecosystems, only below Polygon. The project is one of the few assets with Certik’s highest trust score of 95%. The Certik trust score measures the relative security of a project and assesses it based on how secure it is.
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Certik’s watchlist features assets under scrutiny from both Certik and its users. As such, this recognition of Shiba Inu’s security is a notable achievement for the project.
Moreover, Shiba Inu is also in the top 5% of all projects indexed by Certik’s Skynet, boasting a 95% security score and a 94% community and market score. An analysis of the project’s price sentiment reveals a neutral sentiment of 58% and an impressive social sentiment of 75%.
In January, Certik disclosed that Shiba Inu is the second most secure project on its security leaderboard. Currently, Shiba Inu has no unresolved security issues, with 33 of 34 issues highlighted by Certik completely resolved. Only one finding is partially resolved
$Shiba Coin Good Gov Reg News! ...
March 13, 2023
South Dakota Governor Moves To Block CBDC Bill That Excludes Crypto Assets From Definition of Money
By Alex Richardson
South Dakota governor Kristi Noem has vetoed a bill that aims to exclude digital assets from the legal definition of money – with the exception of central bank digital currencies (CBDCs).
In an interview with Tucker Carlson, Noem says that the bill needed to be vetoed as it was a clear threat to fundamental freedoms.
Noem also says that under the bill, the federal government could more easily adopt a CBDC, which would be the only viable digital asset.
“It was sold as an update to the guidelines of the UCC [Uniform Commercial Code], backed by all our financial institutions, our banks. As we started reading through it, we saw the section of the bill that changed the definition of currency. And essentially what it did was pave the way for a government-led CBDC, and it also banned any other form of cryptocurrency, Bitcoin (BTC) or digital currency that existed. So for me, it very clearly was a threat to our freedom…
We’ve got the same language coming to over 20 other states. I believe it’s to pave a way for the federal government to control our currency, and thus control people. It should be alarming to people and it’s being sold as a UCC guidelines update.”
Noem is referring to House Bill 1193, which seeks to amend South Dakota’s UCC.
The bill doesn’t specifically name CBDCs, but describes money as something that may be “established by an intergovernmental organization.”
“‘Money’ means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.”
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$Shiba Metaverse News! ...
More Views Coming As Shiba Inu Metaverse Revealed At SXSW Texas
DATE:
MARCH 13, 2023
WRITTEN BY:
AMMARA
Latest News
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March 13, 2023
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Clips from SHIB The Metaverse at SXSW Show Captivating Experiences.
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The metaverse project premiered the WAGMI Temple hub at the SXSW festival on March 11.
Shiba Inu’s SHIB: The Metaverse space debuted the WAGMI Temple hub at the 2023 South by Southwest (SXSW) festival on March 10. The premiere granted attendees a glimpse of the highly anticipated Metaverse hub through an immersive Extended Reality (XR) experience.
Recall that Shytoshi Kusama unveiled the poster for the SXSW premiere on March 10. The poster revealed that the metaverse experience would be held from March 12 to 14 at Booth 701 in the Congressional Ballroom in Austin, Texas. In the release of Shibarium beta, Kusama also implored proponents in Texas to visit the booth at the SXSW experience.
After the premiere, numerous clips of the Metaverse experience have emerged, exhibiting a genuinely captivating and engaging encounter. Brandie Konopasek, an entertainment producer and SHIB proponent, recently disclosed a 7-second video clip featuring a glimpse of the WAGMI Temple. She said that it is a “very small” area of Wagmi that is being disclosed.
Konopase further confirmed that more views for the Shib Metaverse would keep coming.
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The footage uncovered a picturesque landscape featuring towering mountains and a grouping of trees, complete with a long wooden bridge. These features indicate that the hub may present some thrilling climbing challenges.
In addition, Scorchia, a Shiba Inu influencer, shared an additional clip; the clip highlights a serene WAGMI Temple scene surrounded by natural elements such as towering mountains, lush greenery, a cascading waterfall, and clear bodies of water. Scorchia affirmed that the Metaverse is inclusive and accessible to all, and one does not necessarily need a VR headset to view it.
Scorchia also revealed that the SXSW premiere of the WAGMI hub consisted of two distinct experiences. The first offered a free-roaming adventure in the health and wellness hub. At the same time, the second provided a tranquil meditation experience, allowing participants to explore WAGMI and gain insight into the hub’s overall environment.
What is SHIB: The Metaverse?
SHIB: The Metaverse is Shiba Inu ecosystem’s unique metaverse space that will give proponents the opportunity to mint over 100,000 plots of land. Those who own land in the metaverse can potentially earn income from their holdings, as well as acquire rewards and tokens. The WAGMI Temple hub is one of 11 hubs featured in the metaverse.
As reported earlier this year, SHIB: The Metaverse was invited to showcase an exhibition at this year’s SXSW festival. The project chose to exhibit the WAGMI (We Are Gonna Make It) Temple Hub during the festival’s XR experience.
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Author
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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.
Z: $Shibarium Launch!!! ...
Shiba Inu’s Highly Anticipated Shibarium Officially Launches in Beta Form – Here’s How To Test the Ethereum Scaling Protocol
By Daily Hodl Staff
A beta version of Shiba Inu’s (SHIB) highly anticipated layer-2 scaling solution Shibarium is officially live.
The pseudonymous developer in charge of the project, Shytoshi Kusama, says his team has flipped the switch and early beta testers can now use the testnet.
However, he warns crypto traders that tokens on the testnet, which has been labeled the Puppynet, are not in any way investments.
“For the TLDR people, this is an open early beta test so go ahead, you can access it now here! Shibarium official RPC website is available here.
All tokens on Puppynet are NOT REAL. Don’t spend you’re hard earned SHIBS on these tokens if you see them no matter how hard people, anyone, shills.”
Shibarium is an Ethereum-based layer-2 blockchain similar to Polygon (MATIC).
It’s designed to allow developers to create fast, inexpensive and highly scalable applications.
The project was first announced in May of 2021 and has been in steady development ever since.
Once the beta test is complete, the platform will spawn a new ecosystem of custom tokens that can be traded using Bone ShibaSwap (BONE) to pay for gas.
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Featured Image: Shutterstock/Sergey Nivens/Nikelser Kate
Z: $Shibarium Launch!!! ...
Shiba Inu’s Highly Anticipated Shibarium Officially Launches in Beta Form – Here’s How To Test the Ethereum Scaling Protocol
By Daily Hodl Staff
A beta version of Shiba Inu’s (SHIB) highly anticipated layer-2 scaling solution Shibarium is officially live.
The pseudonymous developer in charge of the project, Shytoshi Kusama, says his team has flipped the switch and early beta testers can now use the testnet.
However, he warns crypto traders that tokens on the testnet, which has been labeled the Puppynet, are not in any way investments.
“For the TLDR people, this is an open early beta test so go ahead, you can access it now here! Shibarium official RPC website is available here.
All tokens on Puppynet are NOT REAL. Don’t spend you’re hard earned SHIBS on these tokens if you see them no matter how hard people, anyone, shills.”
Shibarium is an Ethereum-based layer-2 blockchain similar to Polygon (MATIC).
It’s designed to allow developers to create fast, inexpensive and highly scalable applications.
The project was first announced in May of 2021 and has been in steady development ever since.
Once the beta test is complete, the platform will spawn a new ecosystem of custom tokens that can be traded using Bone ShibaSwap (BONE) to pay for gas.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
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Featured Image: Shutterstock/Sergey Nivens/Nikelser Kate
$Shibarium Launch!!! ...
Shiba Inu’s Highly Anticipated Shibarium Officially Launches in Beta Form – Here’s How To Test the Ethereum Scaling Protocol
By Daily Hodl Staff
A beta version of Shiba Inu’s (SHIB) highly anticipated layer-2 scaling solution Shibarium is officially live.
The pseudonymous developer in charge of the project, Shytoshi Kusama, says his team has flipped the switch and early beta testers can now use the testnet.
However, he warns crypto traders that tokens on the testnet, which has been labeled the Puppynet, are not in any way investments.
“For the TLDR people, this is an open early beta test so go ahead, you can access it now here! Shibarium official RPC website is available here.
All tokens on Puppynet are NOT REAL. Don’t spend you’re hard earned SHIBS on these tokens if you see them no matter how hard people, anyone, shills.”
Shibarium is an Ethereum-based layer-2 blockchain similar to Polygon (MATIC).
It’s designed to allow developers to create fast, inexpensive and highly scalable applications.
The project was first announced in May of 2021 and has been in steady development ever since.
Once the beta test is complete, the platform will spawn a new ecosystem of custom tokens that can be traded using Bone ShibaSwap (BONE) to pay for gas.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/Sergey Nivens/Nikelser Kate
$Shiba Coin Recommendation! ...
Shiba Inu: Early Bitcoin Adopter Urges Investors To Buy SHIB
Vinod Dsouza
March 10, 2023
Source: Pexels
Early Bitcoin investor Davinci Jeremie recently urged cryptocurrency investors to accumulate Shiba Inu (SHIB) earlier this year. Jeremie was one of the initial investors in Bitcoin who got in early and made life-changing gains. In 2013, Jeremie urged investors to buy a minimum of $1 worth of BTC.
At that time, only a few people dared to put $1,000 or more into Bitcoin, as the digital asset markets were relatively new. Therefore, Jeremie asked people to buy at least $1 worth of BTC, stating that it could deliver stellar returns as years pass.
7.3K
BTC Markets CEO on Cryptocurrency Market
His prediction turned out to be true as Bitcoin skyrocketed in price and touched $69,000 in 2021. Jeremie is famous in the cryptocurrency circles for his 2013 YouTube video titled, “Bitcoin update – Just buy $1 worth of BTC please”.
Yes, he even said “please” when asking investors to buy a mere $1 worth of BTC in 2013. You can watch the video below.
Also Read: Shiba Inu: Shibarium To Burn 100 Trillion SHIB Each Year & Make Way for $0.01?
‘Buy Shiba Inu’, Says Early Bitcoin Investor Davinci Jeremie
?Source: Reddit
Davinci Jeremie’s comment about Shiba Inu came as a response to a user who asked him on Twitter, “Which Altcoin should I spend my USDT on?”. Jeremie swiftly replied, “Umm SHIB”.
However, Jeremie’s response is short, with no further explanation on why he believes people should invest in SHIB.
Also Read: Shiba Inu: How Much ‘Percent’ Must SHIB Rise To Reach $0.01?
Moreover, will Shiba Inu also change its fortunes and remain at a better place 10 years down the line? Nobody knows!
Nonetheless, since Shiba Inu is down 10% on Friday due to the Silicon Valley bank-induced crash, a $10 investment could make investors accumulate 1 million SHIB tokens. If SHIB indeed reaches $0.01 someday, the $10 could deliver $10,000, that’s an uptick of 100,000%.
Also Read: How Shiba Inu Made the Average Investor ‘Dream’ Of Making $1 Million
At press time, Shiba Inu was trading at $0.00000991 and was down 9.5% in the 24-hour day trade. SHIB is also down 88.56% from its all-time high of $0.00008616, which it reached in October 2021.
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shiba inu
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
SHIBA INU
2 minute read
Shiba Inu: You Can Now Become a SHIB Millionaire With Only $10
?
Vinod Dsouza
March 10, 2023
?Source: Pixabay
Shiba Inu added an extra ‘zero’ on Friday as both the stock and cryptocurrency markets crashed due to the Silicon Valley bank crisis. SHIB is currently trading at $0.00000995 (five zeroes) and is down 8.6% in the 24-hour day trade. Bitcoin is at the $19,900 level and could head south further as the SVB fiasco could extend its wings across the markets.
Read here to know why Shiba Inu and the larger markets are crashing today.
Also Read: How Much ‘Percent’ Must SHIB Rise To Reach $0.01?
?Source: CoinGecko.com
Now that Shiba Inu has added an extra ‘zero’, owning 1 million SHIB tokens just got cheaper than before.
A mere $10 investment in Shiba Inu adds 1,000,000 SHIB tokens to one’s portfolio. In case Shiba Inu reaches $0.01 someday in the future, the $10 could turn into $10,000. That’s an uptick and ROI of 100,000% on the $10 investment done today.
Also Read: How SHIB Made the Average Investor ‘Dream’ Of Making $1 Million
?
Also, a $100 investment into SHIB now could fetch investors 10 million tokens. Therefore, if SHIB reaches $0.01, the investment could balloon to $100,000. However, whether Shiba Inu will reach the 1 cent milestone in the future or not, only time will tell.
?Source: CoinGecko.com
The last time investors could buy 1 million SHIB tokens for $10 was in November 2022. The dog-themed token had added a ‘zero’ similarly last year but clawed back to four ‘zeroes’ by the year’s end.
Shiba Inu Millionaire
?Source: NewsBTC.com
The Shiba Inu ‘millionaire’ is considered through token accumulation and not by the ‘dollars’ earned. However, if the markets recover in the coming years and kick-start a bull run, the two might overlap, and eventually, the tokens could turn into dollars. That’s a long way off from today and might take years or decades to reach there.
Moreover, if Shibarium ‘burns’ trillions of tokens each year through transaction fees, reaching $0.01 could be closer than previously thought. We will have to wait and watch after shibarium is released to fully understand its burning capabilities.
Also Read: Shibarium To Burn 100 Trillion SHIB Each Year & Make Way for $0.01?
At press time, Shiba Inu was trading at $0.00000983 and was down 9.2% in the 24-hour day trade. SHIB is also down 88.50% from its all-time high of $0.00008616, which it reached in October 2021.
shiba inu
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
SHIBA INU
2 minute read
Shiba Inu Dips By 10%: A Bloody Weekend In The Making?
?
Sahana Kiran
March 10, 2023
?Source – Unsplash
Meme coins weren’t spared during the latest crypto carnage. Alongside top cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], and others, Shiba Inu [SHIB] as well as Dogecoin [DOGE] witnessed a huge plummet. It looks like this trend could be carried onto the weekend as well, with increased selling activity taking center stage.
At press time, SHIB was trading for $0.000009842 with a 9.60%. The asset dipped from a high of $0.00001106 to a low of $0.000009728.
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?Source – SHIB/USDT Chart on TradingView
The daily chart of Shiba Inu highlighted that the asset broke past a major level of $0.0000107. Now, this line is acting as resistance. If SHIB persists in this ongoing notion, it could dip to a low of $0.00000954 which is an immediate level of support. $0.00000785 could also be on the cards for the meme coin.
The Relative Strength Index [RSI] indicator suggested that Shiba Inu was transitioning into the oversold zone. With increased selling activity in the market, the meme coin could be in the red zone through the weekend.
Could Shibarium come as the meme coin’s saving grace?
Earlier this week, the Shiba Inu network revealed that the much-awaited launch of Shibarium’s beta version would be released this week. The layer-2 update is expected to bring about great gains for the Shiba Inu network.
Even though SHIB’s offspring, BONE will play an integral part in this development, the entire network will benefit. Therefore, SHIB might expect a revival in its price following the launch of Shibarium.
70% of Shiba Inu holders are now at a loss
At the meme coin’s current prices, more than half of its holders were suffering major losses. A dainty 27% of them were pocketing profits, and 70% of the assets’ holders were at a loss.
?Source
Considering the ongoing market conditions, the fate of the token Inu remains uncertain. If Shibarium’s launch goes as planned, things could look much better for SHIB holders.
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cryptocurrency
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shiba inu
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
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$XRP News ...
March 7, 2023
US Judge Shuts Down SEC, Says Agency Will Not Be Allowed to Interfere With Crypto Bankruptcy Proceedings
By Daily Hodl Staff
A judge in the Southern District of New York says he will stop the SEC from interfering with a bankruptcy case by claiming a new crypto asset is a security.
Judge Michael Wiles says he will not allow the U.S. Securities and Exchange Commission to punish executives and advisors working on proposals to create a new token that would help repay customers, reports Bloomberg.
The SEC issued an objection to bankruptcy proceedings for the embattled crypto lender Voyager early this year, which would help repay customers affected by the lender’s collapse.
Judge Michael Wiles initially said he needs specifics on why the SEC objects and why it has decided to “stop everybody in their tracks” with little to no explanation of its concerns.
Now, in a new ruling, Judge Wiles says the SEC’s stance would do nothing but damage, leaving “a sword hanging over the heads of anybody who’s going to do this transaction.”
The judge blasted the SEC’s interference, asking, “How can a bankruptcy case or any court proceeding function with that kind of suggestion?”
The bankruptcy proceedings stem from Binance.US’s acquisition of more than $1 billion worth of assets from Voyager, a deal that was signed after FTX’s plans to acquire the assets vaporized.
Judge Wiles says that in the future, the SEC can pursue Binance.US or Voyager’s attempts to actually issue a bankruptcy token.
But he says it would be plainly wrong to punish individuals for working on their proposals in court.
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$Shiba Coin News with Wendy's! ...
Shiba Inu (SHIB) Now Accepted at Fast Food Wendy's and 600 Businesses via This Partnership
News
Wed, 03/01/2023 - 11:36
Tomiwabold Olajide
Shiba Inu (SHIB) payments now available at Wendy's and 600+ other stores
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Shiba Inu (SHIB) can now be used to buy Wendy's meals and also be spent at more than 600 other vendors, including major hotels, restaurants and supermarkets in the state of Georgia, via a new Binance Pay partnership.
Binance has announced a new partnership between Binance Pay and CityPay.io, a crypto payment gateway based in Georgia.
The exchange announced the development in this way: "Georgia Crypto Payments Binance Pay partners with CityPay.io, allowing users in the region to not only secure Wendy's with crypto but also spend at more than 600 other vendors, including major hotels, restaurants, and supermarkets."
Binance CEO Changpeng "CZ" Zhao excitedly tweeted about the development, "Buy fries with crypto."
Binance Pay is a cryptocurrency payment system created by Binance that enables shopping with crypto and can also be sent to family and friends globally.
In November 2022, SHIB was added to the list of cryptocurrencies supported by Binance Pay, joining cryptocurrencies such as Cardano (ADA), Bitcoin (BTC) and Ethereum (ETH).
Last month, Binance Pay announced its partnership with payment acceptance solutions provider Ingenico, pushing crypto adoption in France. SHIB and other cryptocurrencies can now be accepted in retail stores thanks to the partnership's in-store crypto payment acceptance solution.
352 million SHIB burned in February
According to the Shib Burn Twitter handle, 352,210,738 SHIB tokens were burned in February with 128 transactions. In the last 24 hours, there have been a total of 4,548,935 SHIB tokens burned in four transactions. The SHIB burn rate is up 17.33% in the last 24 hours.
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Shiba Inu (SHIB) tops the most searched token on Seychelles-based Huobi Global as expectations remain high ahead of the Shibarium beta launch.
About the author
Tomiwabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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03/03/2023 - 16:03
XRP Community Confused by Uphold’s Tweet, Shytoshi Kusama’s Deleted Message Puzzles SHIB Army, 1 Quadrillion BabyDoge Destroyed: Crypto News Digest by U.Today
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Shiba Inu’s PawSwap (PAW) Spikes 90% After Listing on Another Top-20 Exchange: Details
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Optimism (OP) Bedrock to Reduce Network Fees by Almost 50%: Analysis
Vladislav Sopov
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$Shiba Coin News! ...
Crypto.com CEO Thanks Shiba Inu Community for Support
DATE:
MARCH 3, 2023
WRITTEN BY:
AMMARA
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The development comes after the exchange announced the listing of Bone ShibaSwap (BONE).
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Kris Marszalek, CEO and co-founder of Singapore-based crypto exchange Crypto.com, has expressed gratitude to the Shiba Inu (SHIB) community for their support.
It came after Crypto.com announced the listing of BONE, the governance token for the ShibaSwap decentralized exchange, and the gas token for the forthcoming layer-2 network Shibarium.
“Thanks for the support,” Marszalek said in a tweet today, quoting the official BONE listing announcement. The announcement triggered a wave of joy among Shiba Inu proponents, who extended their appreciation to the exchange for the development.
Following the announcement, users can now trade the token on the platform with an option to purchase the asset with fiat directly. Barely 7 hours after Crypto.com declared support for the asset, trade volume has soared to $17.98 million as of press time, indicating a significant surge of interest.
Marszalek’s gratitude to the SHIB community comes without surprise, as several indications suggest that Crypto.com is proliferated with Shiba Inu investors. Last November, Crypto.com’s reserves revealed that the exchange held $558 million worth of SHIB at the time, a value worth more than its Ethereum (ETH) holdings.
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On Feb. 28, Shiba Inu reportedly surpassed USDC in Crypto.com’s reserves, as the exchange’s total SHIB holdings had increased to $677 million. Consequently, Shiba Inu now accounts for nearly 18% of Crypto.com’s total reserves, making it the third-biggest single holding behind Bitcoin (BTC) and ETH.
$XRP Ripple asks SEC chair to recuse self from crypto enforcement cases
Ripple chief legal officer Stuart Alderorty said SEC Chair Gary Gensler has prejudged the outcome of crypto-related enforcement actions.
Oluwapelumi Adejumo · February 28, 2023 at 3:00 pm UTC · 1 min read
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Ripple’s chief legal officer Stuart Alderoty asked the U.S. SEC chairman Gary Gensler to recuse himself from voting on any enforcement case relating to cryptocurrencies because he has prejudged the issue.
In a Feb. 28 tweet, Alderoty alluded that Gensler’s statement that “every cryptocurrency, except BTC, is an unregistered security” was evidence of his disposition towards other crypto assets.
The Ripple official cited a legal case between Antoniu and the SEC as the basis of his argument.
In the case, the SEC’s attempt to permanently ban a stockbroker from getting employment from a securities firm was foiled because a commissioner of the regulator had prejudged the case with his public statement.
The court ruled that there was no way to ascertain how the commissioner’s participation affected the SEC’s deliberations, adding that the commissioner’s continued involvement in the debarment proceeding violated due process.
SEC’s chairman Gary Gensler has repeatedly stated that most crypto assets are securities. Under him, the financial regulator has brought enforcement actions against several crypto firms for violating federal securities law.
Meanwhile, the SEC and Ripple are still embroiled in a legal tussle over the classification of XRP.
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$XRP and Shiba More News! ...
Ripple: SEC Chair Gensler Hides Dirty Secrets, CryptoLaw Unveils Them
By Jake Simmons 14 hours Ago
SEC vs Ripple
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is widely considered the most important precedent for the crypto industry. If SEC Chairman Gary Gensler and his agency prevail in the case, the crypto industry can expect an even tougher crackdown from the U.S. regulator. However, the motives could be highly questionable.
Back in July last year, CryptoLaw, a platform launched by attorney John E. Deaton, published eye-opening revelations about Gary Gensler. Deaton revealed with the so-called “Gensler Files” that the SEC chief may be acting in the interests of others.
At the time, it came to light that Gensler had assets of more than $100 million in funds, which are mainly managed by Vanguard Group, through two key companies, including: Annabel Lee LLC and Marital Trust. And while Gensler’s public schedule shows no notable meetings with crypto-related companies, he showed at least seven meetings with Vanguard Group.
And that conflict of interest is currently still evident. At a time when not only Ripple is battling the SEC, but the entire industry is facing an “Operation Choke Point 2.0,” Gensler’s favoritism toward Wall Street giants is more evident than ever.
Related Reading: Will Ripple Vs. SEC Go To Supreme Court? It May Be Favorable
Fox Business journalist Eleanor Terrett reported that the September edition of Gary Gensler’s public calendar was added to the SEC website yesterday. Highlights include four meetings with CFTC Chairman Rostin Behnam, two meetings with former SEC General Counsel John Coates, as well as meetings with Vanguard Group, the ambassador for China Nicholas Burns and Black Rock.
“It’s important to note that Vanguard Group manages Gensler’s personal fortune of $100M and he has given them excessive access to his office since he became SEC Chair,” Deaton commented.
Why Is The SEC Cracking Down On Ripple And Crypto?
Just recently, Deaton theorized about why the SEC is cracking down on Ripple and the entire crypto industry. According to the attorney, Gensler will continue its policy of regulation through enforcement until Wall Street giants like Vanguard are satisfied.
[…], once the legacy players are satisfied, there will be some form of clarity worked out and then, crypto will be labeled safe enough and investors ‘protected’.
Related Reading: Ripple Further Expands Into UAE, Payments Provider Will Use XRP
As Deaton explained, Wall Street giants are generally bullish on crypto. Larry Fink, the head of Black Rock, the world’s largest asset manager, recently said that technology “will play a big role in the modern world.” Moreover, he emphasized that there needs to be reasonable regulations for crypto. Deaton drew the following conclusions:
If BlackRock is in, ask yourself who is the largest shareholder of BlackRock? Vanguard.
Who manages 90% of Gary Gensler’s $140M fortune? Vanguard.
The point is that Crypto is here to stay. BlackRock, Fidelity, Mellon, etc, are not all wrong.
Ripple could thus serve as a precedent for the SEC to regulate cryptocurrencies so that the U.S. agency gains oversight over all tokens, ideally including all transactions on the secondary market. victory for Ripple against the SEC seems more important than ever in light of these revelations by Deaton.
At press time, the XRP price stood at $0.3906, down 2.6% in the last 24 hours in the wake of the market-wide correction.
Ripple XRP USD
XRP price below 200-day EMA, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from Fox Business, Chart from TradingView.com
Categories:Ripple
Tags:rippleXRP
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© 2022 Bitcoinist. All Rights Reserved.
$XRP More News! ...
Ripple: SEC Chair Gensler Hides Dirty Secrets, CryptoLaw Unveils Them
By Jake Simmons 14 hours Ago
SEC vs Ripple
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is widely considered the most important precedent for the crypto industry. If SEC Chairman Gary Gensler and his agency prevail in the case, the crypto industry can expect an even tougher crackdown from the U.S. regulator. However, the motives could be highly questionable.
Back in July last year, CryptoLaw, a platform launched by attorney John E. Deaton, published eye-opening revelations about Gary Gensler. Deaton revealed with the so-called “Gensler Files” that the SEC chief may be acting in the interests of others.
At the time, it came to light that Gensler had assets of more than $100 million in funds, which are mainly managed by Vanguard Group, through two key companies, including: Annabel Lee LLC and Marital Trust. And while Gensler’s public schedule shows no notable meetings with crypto-related companies, he showed at least seven meetings with Vanguard Group.
And that conflict of interest is currently still evident. At a time when not only Ripple is battling the SEC, but the entire industry is facing an “Operation Choke Point 2.0,” Gensler’s favoritism toward Wall Street giants is more evident than ever.
Related Reading: Will Ripple Vs. SEC Go To Supreme Court? It May Be Favorable
Fox Business journalist Eleanor Terrett reported that the September edition of Gary Gensler’s public calendar was added to the SEC website yesterday. Highlights include four meetings with CFTC Chairman Rostin Behnam, two meetings with former SEC General Counsel John Coates, as well as meetings with Vanguard Group, the ambassador for China Nicholas Burns and Black Rock.
“It’s important to note that Vanguard Group manages Gensler’s personal fortune of $100M and he has given them excessive access to his office since he became SEC Chair,” Deaton commented.
Why Is The SEC Cracking Down On Ripple And Crypto?
Just recently, Deaton theorized about why the SEC is cracking down on Ripple and the entire crypto industry. According to the attorney, Gensler will continue its policy of regulation through enforcement until Wall Street giants like Vanguard are satisfied.
[…], once the legacy players are satisfied, there will be some form of clarity worked out and then, crypto will be labeled safe enough and investors ‘protected’.
Related Reading: Ripple Further Expands Into UAE, Payments Provider Will Use XRP
As Deaton explained, Wall Street giants are generally bullish on crypto. Larry Fink, the head of Black Rock, the world’s largest asset manager, recently said that technology “will play a big role in the modern world.” Moreover, he emphasized that there needs to be reasonable regulations for crypto. Deaton drew the following conclusions:
If BlackRock is in, ask yourself who is the largest shareholder of BlackRock? Vanguard.
Who manages 90% of Gary Gensler’s $140M fortune? Vanguard.
The point is that Crypto is here to stay. BlackRock, Fidelity, Mellon, etc, are not all wrong.
Ripple could thus serve as a precedent for the SEC to regulate cryptocurrencies so that the U.S. agency gains oversight over all tokens, ideally including all transactions on the secondary market. victory for Ripple against the SEC seems more important than ever in light of these revelations by Deaton.
At press time, the XRP price stood at $0.3906, down 2.6% in the last 24 hours in the wake of the market-wide correction.
Ripple XRP USD
XRP price below 200-day EMA, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from Fox Business, Chart from TradingView.com
Categories:Ripple
Tags:rippleXRP
Related Content
Will Ripple Vs. SEC Go To Supreme Court? It May Be Favorable
BY JAKE SIMMONS FEBRUARY 21, 2023
XRP-Based Wallet Xumm Partners With This Company To Enhance Retail Payments
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Ripple Further Expands Into UAE, Payments Provider Will Use XRP
BY JAKE SIMMONS FEBRUARY 20, 2023
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BY JAKE SIMMONS FEBRUARY 17, 2023
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BY JAKE SIMMONS FEBRUARY 16, 2023
Ripple Provides $1 Million In XRP For Earthquake Relief In Turkey And Syria
BY JAKE SIMMONS FEBRUARY 15, 2023
BACK TO TOP
© 2022 Bitcoinist. All Rights Reserved.
$Shiba Coin News!!!...
SHIB Lead Dev Unveils Plans for Shibarium, John Deaton Slams SEC with Judge Netburn's Quote, SHIB Fast Food Chain Welly Might Expand to Tokyo: Crypto News Digest by U.Today
News
Tue, 02/21/2023 - 15:45
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
?
Cover image via www.freepik.com
Read U.TODAY on
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Google News
Contents
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
XRP trading volume skyrockets by 111% as rare chart pattern emerges
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Shiba Inu's lead developer, Shytoshi Kusama, has updated his Shibarium blog with yet another post, this time telling his followers about his journey developing the platform and the difficulties he encountered along the way. In the post, Kusama discussed Shiba Inu’s many projects, such as The Metaverse, SHIB Eternity, collaboration with fashion designer John Richmond and a partnership with the Welly fast food restaurant. However, “the goal of 2022” was Shibarium, writes the developer, adding that he was focused on understanding how to make the project different and viable for the common ecosystem and not just scammy projects. Besides, Kusama expressed his gratitude to the project team and community members, who have put so much effort into making the project a success.
Related
Shiba Inu’s Lead Developer Hints at Imminent Release of Shibarium Beta
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
In a recent tweet, pro-crypto lawyer John Deaton pointed out the “hypocrisy” of the U.S. Securities and Exchange Commission in the context of its legal suit against Ripple Labs. Deaton referred to a quote by the federal judge Sarah Netburn, in which she criticized the regulator’s approach to proving that Ripple has been selling XRP tokens as unregistered securities. The “hypocrisy” of the SEC, said the judge, is expressed through the fact that on the one hand, the agency states that Hinman's speech is not relevant to the market's understanding of the SEC's regulation of the crypto space. On the other hand, however, before delivering his speech on crypto assets, Hinman obtained legal advice from the SEC.
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
According to a recent announcement by Welly, a Shiba Inu-themed burger joint, its core team is going to visit Tokyo. The team will be staying in Japan’s capital for seven days, from Feb. 24 to March 3, and invited all "Welly friends" in the area to plan a meet-up. It was not explicitly stated why the project’s representatives are traveling to Tokyo. However, judging from Welly’s statement at the start of the year about stores and franchising being top priorities, one could suggest that the purpose of Welly's visit to Japan might be with an eye toward expanding its business there.
XRP trading volume skyrockets by 111% as rare chart pattern emerges
Yesterday, XRP trading volume saw a 111% spike as traders considered a potential trend reversal, while XRP seemed to be showing oversold conditions. In the meantime, a Twitter user who goes by “Mr. Huber” (@Leerzeit) has shared a screenshot of XRP/Total of Crypto weekly chart, noting that XRP closed its 12th red candle in a row, which was last seen in March 2015. The chart also showed a triangle pattern, which involves the price moving into a tighter and tighter range over time and demonstrates a battle between bulls and bears until one side surrenders and a breakout occurs. At the moment of writing, XRP is changing hands at $0.3895, down almost 4% over the past day.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
Crypto Market Review
02/21/2023 - 17:00
Shiba Inu (SHIB) Comes to $0.0000135 Following Growth of Leash and Other Shiba-Related Assets
Arman Shirinyan
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02/21/2023 - 16:46
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Alex Dovbnya
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02/21/2023 - 16:30
ANKR Spikes 60% on Microsoft Partnership Announcement, Here's What's Next
Gamza Khanzadaev
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Protected by copyright laws of the international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Golden Axis Advertising L.L.C
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$Shiba Coin News!! ...
SHIB Lead Dev Unveils Plans for Shibarium, John Deaton Slams SEC with Judge Netburn's Quote, SHIB Fast Food Chain Welly Might Expand to Tokyo: Crypto News Digest by U.Today
News
Tue, 02/21/2023 - 15:45
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
?
Cover image via www.freepik.com
Read U.TODAY on
?
Google News
Contents
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
XRP trading volume skyrockets by 111% as rare chart pattern emerges
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Shiba Inu's lead developer, Shytoshi Kusama, has updated his Shibarium blog with yet another post, this time telling his followers about his journey developing the platform and the difficulties he encountered along the way. In the post, Kusama discussed Shiba Inu’s many projects, such as The Metaverse, SHIB Eternity, collaboration with fashion designer John Richmond and a partnership with the Welly fast food restaurant. However, “the goal of 2022” was Shibarium, writes the developer, adding that he was focused on understanding how to make the project different and viable for the common ecosystem and not just scammy projects. Besides, Kusama expressed his gratitude to the project team and community members, who have put so much effort into making the project a success.
Related
Shiba Inu’s Lead Developer Hints at Imminent Release of Shibarium Beta
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
In a recent tweet, pro-crypto lawyer John Deaton pointed out the “hypocrisy” of the U.S. Securities and Exchange Commission in the context of its legal suit against Ripple Labs. Deaton referred to a quote by the federal judge Sarah Netburn, in which she criticized the regulator’s approach to proving that Ripple has been selling XRP tokens as unregistered securities. The “hypocrisy” of the SEC, said the judge, is expressed through the fact that on the one hand, the agency states that Hinman's speech is not relevant to the market's understanding of the SEC's regulation of the crypto space. On the other hand, however, before delivering his speech on crypto assets, Hinman obtained legal advice from the SEC.
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
According to a recent announcement by Welly, a Shiba Inu-themed burger joint, its core team is going to visit Tokyo. The team will be staying in Japan’s capital for seven days, from Feb. 24 to March 3, and invited all "Welly friends" in the area to plan a meet-up. It was not explicitly stated why the project’s representatives are traveling to Tokyo. However, judging from Welly’s statement at the start of the year about stores and franchising being top priorities, one could suggest that the purpose of Welly's visit to Japan might be with an eye toward expanding its business there.
XRP trading volume skyrockets by 111% as rare chart pattern emerges
Yesterday, XRP trading volume saw a 111% spike as traders considered a potential trend reversal, while XRP seemed to be showing oversold conditions. In the meantime, a Twitter user who goes by “Mr. Huber” (@Leerzeit) has shared a screenshot of XRP/Total of Crypto weekly chart, noting that XRP closed its 12th red candle in a row, which was last seen in March 2015. The chart also showed a triangle pattern, which involves the price moving into a tighter and tighter range over time and demonstrates a battle between bulls and bears until one side surrenders and a breakout occurs. At the moment of writing, XRP is changing hands at $0.3895, down almost 4% over the past day.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
Crypto Market Review
02/21/2023 - 17:00
Shiba Inu (SHIB) Comes to $0.0000135 Following Growth of Leash and Other Shiba-Related Assets
Arman Shirinyan
News
02/21/2023 - 16:46
Paxos and SEC Engaging in Discussions over BUSD Stablecoin
Alex Dovbnya
News
02/21/2023 - 16:30
ANKR Spikes 60% on Microsoft Partnership Announcement, Here's What's Next
Gamza Khanzadaev
Like
utoday.en
Follow
@utoday_en
Subscribe
utoday
Join
@utoday_en
Follow us and get all crypto news 24/7
Disclaimer: Any financial advice given on U.TODAY is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.
U.Today website is operated by Golden Axis Advertising L.L.C Level 41, Emirates Tower, Sheikh Zayed Road, Dubai, UAE
Protected by copyright laws of the international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Golden Axis Advertising L.L.C
© 2017-2022 Golden Axis Advertising L.L.C. All rights reserved.
Terms and conditionsPrivacy Policy
$XRP Coin News! ...
$Shiba Coin News! ...
SHIB Lead Dev Unveils Plans for Shibarium, John Deaton Slams SEC with Judge Netburn's Quote, SHIB Fast Food Chain Welly Might Expand to Tokyo: Crypto News Digest by U.Today
News
Tue, 02/21/2023 - 15:45
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
?
Cover image via www.freepik.com
Read U.TODAY on
?
Google News
Contents
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
XRP trading volume skyrockets by 111% as rare chart pattern emerges
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Shiba Inu's lead developer, Shytoshi Kusama, has updated his Shibarium blog with yet another post, this time telling his followers about his journey developing the platform and the difficulties he encountered along the way. In the post, Kusama discussed Shiba Inu’s many projects, such as The Metaverse, SHIB Eternity, collaboration with fashion designer John Richmond and a partnership with the Welly fast food restaurant. However, “the goal of 2022” was Shibarium, writes the developer, adding that he was focused on understanding how to make the project different and viable for the common ecosystem and not just scammy projects. Besides, Kusama expressed his gratitude to the project team and community members, who have put so much effort into making the project a success.
Related
Shiba Inu’s Lead Developer Hints at Imminent Release of Shibarium Beta
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
In a recent tweet, pro-crypto lawyer John Deaton pointed out the “hypocrisy” of the U.S. Securities and Exchange Commission in the context of its legal suit against Ripple Labs. Deaton referred to a quote by the federal judge Sarah Netburn, in which she criticized the regulator’s approach to proving that Ripple has been selling XRP tokens as unregistered securities. The “hypocrisy” of the SEC, said the judge, is expressed through the fact that on the one hand, the agency states that Hinman's speech is not relevant to the market's understanding of the SEC's regulation of the crypto space. On the other hand, however, before delivering his speech on crypto assets, Hinman obtained legal advice from the SEC.
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
According to a recent announcement by Welly, a Shiba Inu-themed burger joint, its core team is going to visit Tokyo. The team will be staying in Japan’s capital for seven days, from Feb. 24 to March 3, and invited all "Welly friends" in the area to plan a meet-up. It was not explicitly stated why the project’s representatives are traveling to Tokyo. However, judging from Welly’s statement at the start of the year about stores and franchising being top priorities, one could suggest that the purpose of Welly's visit to Japan might be with an eye toward expanding its business there.
XRP trading volume skyrockets by 111% as rare chart pattern emerges
Yesterday, XRP trading volume saw a 111% spike as traders considered a potential trend reversal, while XRP seemed to be showing oversold conditions. In the meantime, a Twitter user who goes by “Mr. Huber” (@Leerzeit) has shared a screenshot of XRP/Total of Crypto weekly chart, noting that XRP closed its 12th red candle in a row, which was last seen in March 2015. The chart also showed a triangle pattern, which involves the price moving into a tighter and tighter range over time and demonstrates a battle between bulls and bears until one side surrenders and a breakout occurs. At the moment of writing, XRP is changing hands at $0.3895, down almost 4% over the past day.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
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$Shiba Coin News! ...
SHIB Lead Dev Unveils Plans for Shibarium, John Deaton Slams SEC with Judge Netburn's Quote, SHIB Fast Food Chain Welly Might Expand to Tokyo: Crypto News Digest by U.Today
News
Tue, 02/21/2023 - 15:45
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
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Contents
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
XRP trading volume skyrockets by 111% as rare chart pattern emerges
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Shiba Inu's lead developer, Shytoshi Kusama, has updated his Shibarium blog with yet another post, this time telling his followers about his journey developing the platform and the difficulties he encountered along the way. In the post, Kusama discussed Shiba Inu’s many projects, such as The Metaverse, SHIB Eternity, collaboration with fashion designer John Richmond and a partnership with the Welly fast food restaurant. However, “the goal of 2022” was Shibarium, writes the developer, adding that he was focused on understanding how to make the project different and viable for the common ecosystem and not just scammy projects. Besides, Kusama expressed his gratitude to the project team and community members, who have put so much effort into making the project a success.
Related
Shiba Inu’s Lead Developer Hints at Imminent Release of Shibarium Beta
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
In a recent tweet, pro-crypto lawyer John Deaton pointed out the “hypocrisy” of the U.S. Securities and Exchange Commission in the context of its legal suit against Ripple Labs. Deaton referred to a quote by the federal judge Sarah Netburn, in which she criticized the regulator’s approach to proving that Ripple has been selling XRP tokens as unregistered securities. The “hypocrisy” of the SEC, said the judge, is expressed through the fact that on the one hand, the agency states that Hinman's speech is not relevant to the market's understanding of the SEC's regulation of the crypto space. On the other hand, however, before delivering his speech on crypto assets, Hinman obtained legal advice from the SEC.
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
According to a recent announcement by Welly, a Shiba Inu-themed burger joint, its core team is going to visit Tokyo. The team will be staying in Japan’s capital for seven days, from Feb. 24 to March 3, and invited all "Welly friends" in the area to plan a meet-up. It was not explicitly stated why the project’s representatives are traveling to Tokyo. However, judging from Welly’s statement at the start of the year about stores and franchising being top priorities, one could suggest that the purpose of Welly's visit to Japan might be with an eye toward expanding its business there.
XRP trading volume skyrockets by 111% as rare chart pattern emerges
Yesterday, XRP trading volume saw a 111% spike as traders considered a potential trend reversal, while XRP seemed to be showing oversold conditions. In the meantime, a Twitter user who goes by “Mr. Huber” (@Leerzeit) has shared a screenshot of XRP/Total of Crypto weekly chart, noting that XRP closed its 12th red candle in a row, which was last seen in March 2015. The chart also showed a triangle pattern, which involves the price moving into a tighter and tighter range over time and demonstrates a battle between bulls and bears until one side surrenders and a breakout occurs. At the moment of writing, XRP is changing hands at $0.3895, down almost 4% over the past day.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
Crypto Market Review
02/21/2023 - 17:00
Shiba Inu (SHIB) Comes to $0.0000135 Following Growth of Leash and Other Shiba-Related Assets
Arman Shirinyan
News
02/21/2023 - 16:46
Paxos and SEC Engaging in Discussions over BUSD Stablecoin
Alex Dovbnya
News
02/21/2023 - 16:30
ANKR Spikes 60% on Microsoft Partnership Announcement, Here's What's Next
Gamza Khanzadaev
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Protected by copyright laws of the international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Golden Axis Advertising L.L.C
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$Shiba Coin News ...
Ripple's Legal Counsel Calls Out SEC's "Bullying" Tactics
News
Mon, 02/20/2023 - 20:36
Alex Dovbnya
Ripple's legal counsel, Stuart Alderoty, has taken to Twitter to criticize the U.S. Securities and Exchange Commission (SEC) for its approach to regulating cryptocurrencies
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Ripple's legal counsel, Stuart Alderoty, took to Twitter to criticize the U.S. Securities and Exchange Commission (SEC), stating that it has lost four out of its last five cases in the Supreme Court.
He attributed the wins to those who had the courage and resources to fight back against the SEC's "bullying" tactics and its stretching of legal positions that were not faithful to the law.
This tweet follows several other comments by Alderoty criticizing the SEC's approach to regulating cryptocurrencies. In September 2022, he accused the SEC of orchestrating a "political power grab" and rejected the idea that cryptocurrencies require specific rulemaking.
Related
Billionaire Ray Dalio Destroys Crypto Hype
Alderoty also argued that the SEC's strategy is to attack various projects with its "regulation by enforcement" approach to expand its reach beyond the realm of securities.
In February 2023, Alderoty took a dig at SEC Chair Gary Gensler, suggesting that he could be a "political liability" for President Joe Biden due to his harsh anti-crypto stance.
The comment came after the SEC's enforcement action against crypto exchange Kraken, which resulted in a $30 million fine. Gensler warned other platforms to "take note" of Kraken's recent move to halt its staking service in the country.
The SEC's enforcement actions against Kraken and Ripple have made some in the industry anxious about the future of crypto regulation in the United States. The crypto industry is hoping for more clarity and a more favorable regulatory environment.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.
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Price Analysis
02/20/2023 - 19:00
XRP and ADA Price Analysis for February 20
Denys Serhiichuk
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U.Today Original Article
XRP and ADA Price Analysis for February 20
Price Analysis
Mon, 02/20/2023 - 19:00
Denys Serhiichuk
Will we see further growth of Cardano (ADA) and XRP?
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Bulls keep controlling the situation on the market despite bears' pressure.
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XRP/USD
XRP has followed the rise of Bitcoin (BTC), going up by almost 2%.
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XRP is looking bullish on the daily chart as the candle is about to close near the resistance at $0.40466. If that happens, the accumulated energy might be enough for midterm growth to the zone around $0.43. Such a scenario is relevant until mid-March.
XRP is trading at $0.40548 at press time.
ADA/USD
Unlike XRP, the rate of Cardano (ADA) has declined by 0.55%.
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Despite today's decline, the price of Cardano (ADA) has once again bounced off the support level at $0.3957 and is currently trading above the $0.40 zone, which means that buyers are not ready to give up so easily. If the bar closes with no long wicks, the upward move may continue to the resistance level at $0.42.
ADA is trading at $0.4083 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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Deaton Claims Victory in XRP-SEC Lawsuit as SEC Acknowledges XRP as “Software Code”
Published By
Qadir AK
FEBRUARY 13, 2023
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The well-known cryptocurrency attorney and XRP supporter John Deaton has boasted about their success in getting the United States Securities and Exchange Commission to acknowledge that the Ripple-issued asset is a software code.
According to Deaton, XRP, much like gold, Bitcoin, and other cryptocurrencies, may be bought and sold like security. It is immaterial to what XRP is now, he said, whether or whether the founders of Ripple broke securities laws at some time in the company’s history.
What Led To It
He made this information public after a person on Twitter endorsed a claim made by self-proclaimed Bitcoin founder Craig Wright that XRP is a hoax and security. Deaton said that he had replied to Wright’s accusation that XRP was a fraud with the expression “the pot calling the kettle black.”
On the other hand, Wright found the remark to be offensive, and as a result, she promptly banned Deaton on Twitter. During the course of the event, a person on Twitter who goes by the moniker DirtyDingo Crypto claimed that not only is XRP a hoax but that the co-founder of Ripple, Chris Larsen, confirmed in 2012 that the coin was security.
Since the beginning of this decade, the United States Securities and Exchange Commission (SEC) has been investigating Ripple and its two top executives for their involvement in the trading of XRP, which the regulator considers to be security.
Ripple denies the accusation and argues that the token should not be regarded as security since it is utilized in the company’s operations to enable international financial transactions between banks and other financial institutions.
In their last batch of filings requesting a summary judgment on the matter, both Ripple and the SEC filed them in December 2022, claiming each other of going beyond the scope of the law in their arguments.
Ripple’s CEO, Brad Garlinghouse, has expressed his optimism that a settlement to the company’s dispute with the SEC may be found within the first half of 2023.
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