MagicPoopCannon, a famous cryptocurrency, and Bitcoin analyst has said in a recent statement that the new picks made by the newly-elected President of the United States Joe Biden for the SEC (Securities and Exchange Commission), US Treasury, and OCC (Office of the Comptroller of the Currency) could prove in favor of cryptocurrencies, particularly for Ripple and XRP.
The analyst is Optimistic for Ripple and XRP
In its latest statement, the crypto analyst has shared his optimistic point of view for cryptocurrencies in relations to new picks made by US President Joe Biden.
He said that Biden’s new picks for OCC, SEC, and US Treasury can provide cryptocurrencies with the regulatory clarity required in the United States. However, Biden’s administration would be beneficial the most for the San Francisco-based blockchain payments giant Ripple and its native digital currency XRP. Both of these would be able to take advantage of this regulatory clarity as they are currently in a legal fight with the SEC over a lawsuit that alleges Ripple guilty of selling unregulated securities. That is why he said that he is optimistic for both Ripple and XRP.
This is what he stated in his comments:
“With Gary Gensler heading the SEC, Janet Yellen heading the US Treasury, and former Ripple executive Michael Barr poised to lead the US OCC, there is clearly going to be a focus on sweeping crypto regulatory reform in the US, and I’m optimistic for Ripple and XRP.”
Meanwhile, Dr. Yellen the United States Treasury Department nominee has also clarified her stance regarding digital currencies. Yellen said that it is crucial for them to give a thought to the advantages of cryptocurrencies and the advantages and the potential they possess. They could be beneficial for the betterment of the financial system, she said.
Adding more to it, she said, “I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities.”
A Complete Overview of Cryptocurrency Cloud Mining Platform – TopHash
9 Out of Every 10 Central Banks Around the World are Exploring CBDCs, Ripple Reports
XRP Is On Its Way to a Strong Comeback as Coin’s Rising Trading Volume Shows Growing Investor Interest
Research Uncovers Why XRP Is Japan’s Most Favored Cryptocurrency
XRP Falls to $0.47, as the SEC Strikes Back at Ripple
Recent Press Release
CGMD Miner’s Low-Cost Coin Mining : Spend Less, Earn More!
As more players enter the cryptocurrency space, mining becomes more complex and requires more computing power. As a result, many...
Will Arbitrum Reach $1? ARB Struggles, SPCT Offers Better Prospects
As the crypto market recovers from Bitcoin’s (BTC) recent crash, Arbitrum (ARB) is enhancing its network capabilities to improve its...
Cardano (ADA) Lags, Analysts Predict VC Spectra (SPCT) Will Outpace it
Cardano’s (ADA) price has suffered despite the launch of Cardano’s Project Catalyst Testnet on August 25. Even when the news...
SUI and Hedera (HBAR) Slump Ahead of Token Unlocks, VC Spectra (SPCT) Gains Users
Token unlocks in crypto are typically bearish signs due to basic supply and demand. Analysts will keenly observe how Sui...
While Polkadot (DOT) Pauses, VC Spectra (SPCT) Offers a 220% Potential Upside!
VC Spectra (SPCT), a rising blockchain for investments and asset management, has grown considerably in its ongoing presale. Meanwhile, Polkadot...