- Ripple CTO David Schwartz has confirmed that the company’s CBDC Platform can interact with the XRP Ledger and XRP token.
- Crypto publication Blockworks clarified that the CBDC Platform does not require XRP to operate and that central banks do not use or interact with the token.
- A bill has been introduced in US Congress to clarify digital assets classification.
BitDAO-Mantle Merger Creates $2.5B DAO-Led Web3 Ecosystem
BitDAO, a decentralized autonomous organization (DAO) backed by Mantle Venture Capital, recently announced a merger which creates a new $2.5 billion web3 ecosystem. The merger combines BitDAO’s existing “community of developers, entrepreneurs, investors, and enthusiasts who join forces to build an innovative blockchain-based financial infrastructure” with Mantle Venture Capital’s “experience in venture capital investing and product development.” This new ecosystem is expected to further develop projects in DeFi, NFTs, and other emerging technologies related to blockchain technology.
Ripple CTO Confirms CBDC Platform’s Ability To Use XRP Token
Ripple CTO David Schwartz recently confirmed that its Central Bank Digital Currency platform is compatible with the XRP Ledger (XRPL) and the XRP token. While Ripple’s CBDC platform does not require XRP to operate, it remains to be seen if central banks opt to utilize the token as part of their operations. This announcement follows news of Crypto Scammers duping over 14 thousand people out of $6.4 million from ‚fake token claims.‘
Going Full Maxi: Tensions Flare as Bitcoin Expert Maintains Altcoins Are Scams
Tensions have been rising between Bitcoin maximalists and members of the altcoin community after Bitcoin expert Tuur Demeester took to Twitter declaring that “all altcoins are scams…or at least unviable businesses.“ Demeester went on to argue that most cryptocurrency projects fail due to lack of proper incentives for users or low liquidity for traders. His comments sparked an intense debate between two sides – some arguing his views were too extreme while others argued they were warranted given how many cryptocurrency projects turned out to be scams or fizzled out shortly after launch.
US Lawmaker Introduces Bill To Clarify Digital Assets Classification
In response growing regulatory uncertainty surrounding cryptocurrencies, US Representative Paul Gosar introduced a bill titled „The Digital Commodity Exchange Act“ designed “to provide clarity within existing federal securities laws concerning digital asset transactions.“ The proposal defines digital assets as commodities rather than securities – meaning entities handling such assets would no longer fall under SEC jurisdiction but instead become subject solely CFTC regulations – thus providing firms greater clarity when dealing with digital assets.