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02/10 16:29

Why the U.S. Government May Include XRP in Digital

Why the U.S. Government May Include XRP in Digital Asset Reserves

 Renowned legal expert Jeremy Hogan has offered a speculative idea as to why the U.S. government might include XRP in its potential strategic reserves.

 Attorney Hogan recently questioned the views of some cryptocurrency enthusiasts, particularly Bitcoin supporters, on government involvement in digital assets.

 Hogan blames XRP critics

 Recall that some Bitcoin supporters claim that XRP is not a suitable reserve asset.  They believe Ripple’s large holdings of XRP pose a concentration risk to its potential adoption as a reserve asset.

 However, in a recent X post, Attorney Hogan accused these critics of evaluating XRP’s potential participation in the U.S. Strategic Reserve of Digital Assets solely from a crypto perspective.  He said these critics focus on whether XRP is decentralized and other crypto-related assessments.

 It is worth noting that he emphasized that these matters have nothing to do with the government.  According to him, strategic reserves represent reserves of important assets such as gold held by the government for economic reasons.

 “Maybe the federal government is not looking at this from an encryption perspective the way people here are,” Attorney Hogan commented.

 Why governments could adopt XRP as a reserve asset

 Lawyers suggest that if the government includes XRP in potential reserves, it is because it believes the currency can serve as a hedge against certain future contingencies.

 Furthermore, Attorney Hogan asserts that governments may have foreseen the need for XRP stores in the future of potential global economic shifts better than most Bitcoin proponents.

 Furthermore, he also emphasized that the US government may take control of Ripple if the company compromises the XRP ledger.  He said the move was similar to what the U.S. government did during World War III.

 Among other things, Hogan also suggested that the government could seize Ripple’s XRP escrow, similar to how President Franklin Roosevelt issued an executive order in 1933 banning gold hoarding.

 The current status of the U.S. digital asset strategic reserve

 Currently, the government has not decided whether to establish a national digital asset reserve or which cryptocurrency it will feature.  However, a presidential task force is already assessing the risks and benefits of such a move.

 The panel will submit a comprehensive report to the National Economic Policy Assistant within 180 days of Donald Trump’s executive order targeting digital asset markets.

 While it’s still uncertain which cryptocurrencies will appear in the potential reserve, Ripple is already taking action to ensure that governments create a multi-asset reserve rather than one built around one cryptocurrency such as Bitcoin.  As previously reported, Ripple CEO Brad Garlinghouse confirmed that he met with Trump on the issue.  

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