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XRP Is an Actual Cryptocurrency, Says US Congressman, Unlike Libra

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  • Yuri Molchan
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    The XRP community goes wild from joy as a US Republican Congressman called XRP an ‘actual crypto’ during Mark Zuckerberg’s testimony

XRP Is an Actual Cryptocurrency, Says US Congressman, Unlike Libra
Cover image via www.youtube.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The XRP army has got another reason for joy after a US Congressman from the Republican party, Ted Budd of North Carolina, called XRP an ‘actual cryptocurrency’ together with BTC and ETH, naming them in the order of the market cap value.

Unlike those, said the Congressman, Libra is not crypto.

Mark Zuckerberg says that US may lose financial leadership if Libra is not launched

In his yesterday’s testimony in the US Congress, the CEO of Facebook, Mark Zuckerberg, faced a wave of criticism from US lawmakers.

In particular, Ted Budd, a Congressman representing North Carolina, stated that Libra is not an actual cryptocurrency while BTC, ETH and XRP are.

In response, Mark Zuckerberg stated that unless Libra gets the support from the US government, the country’s leadership in the sphere of finance is not guaranteed. Apparently, the Facebook founder was referring to the Chinese digital currency, the so-called ‘China Coin’, that is currently being tested by the China’s Central Bank (PBOC) and that is pegged to yuan.

When Mark Zuckerberg was asked, what the actions of Facebook will be should Libra Association decide to launch the coin regardless of the regulatory approval, the founder of the social media giant stated that Facebook will leave the Association.

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A bullish XRP forecast

One of active XRP community members, @CryptoBull2020, has tweeted that he remains bullish on the XRP price, and believes that by the end of 2020 it will hit an all-time high of $10.

As reported by U.Today yesterday, a prominent venture investor and a Bitcoin bull Tim Draper also wrote that the XRP price is about to show an ‘explosive growth’.

 

Will Libra be finally approved by US regulators? Share your opinion in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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  • Alex Dovbnya
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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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