Bold XRP Proposal: U.S. Should Use XRP to Dominate the Digital Economy!

Bold XRP Proposal: Should the U.S. Government Make XRP a National Reserve?

According to a document that was recently made public, the US government should use XRP as a strategic financial asset. Claiming that doing so might lower transaction costs, increase financial liquidity, and strengthen the country’s standing in the rapidly changing digital economy. A multi-phase plan to integrate XRP into the U.S. economic system, remove legal barriers, and possibly create a national Bitcoin reserve is outlined in the proposal that Maximilian Staudinger submitted to the SEC. Nevertheless, the document sometimes makes unrealistic recommendations, including buying more Bitcoin than is actually available. This has increased doubts about its viability.

New Proposal Calls for SEC & DOJ Action!

To put things in perspective, Staudinger’s proposal focuses on incorporating XRP into the American financial system and emphasizes how the asset may release funds that are currently locked up in international Nostro accounts. The document estimates that there are $27 trillion in Nostro accounts held globally, with the United States holding about $5 trillion of that total. The proposal asserts that $1.5 trillion might be released, offering economic flexibility, by substituting XRP for conventional liquidity methods.

The proposal advocates for legislative and regulatory changes in order to integrate XRP fully. It suggests that the SEC settle with Ripple and formally designate XRP as a payment asset as opposed to a security. The Department of Justice (DOJ) is also urged to lift limitations that prohibit banks from using XRP-based solutions. According to the study, regulatory obstacles might be removed by a presidential executive order, hastening this process.

One of the assertions in the document is that the United States intends to purchase 25 million Bitcoin in order to create a reserve. However, since there are only 21 million Bitcoins in circulation, this is not feasible. It would be nearly impossible for the U.S. government to buy every Bitcoin in use due to market constraints. This degree of acquisition would be impossible without seriously upsetting the cryptocurrency market, despite the proposal’s assumption that $1.5 trillion in released capital could be directly reinvested in Bitcoin.

Why Doesn’t SEC’s Website Mention of XRP Mean Approval?

It is crucial to make clear that, despite the proposal receiving more attention after being posted on the SEC’s website, this does not imply an official SEC endorsement. This was also emphasized by XRPL dUNL validator Vet in a post on X. Public comments and suggestions submitted by individuals are archived online by the SEC. This specific document does not represent an official agency stance or an ongoing SEC discussion about a strategic reserve for XRP.

It was most likely filed by Staudinger or another individual via a comment form or a public SEC gateway, such as the EDGAR system. Such submissions are kept publicly available as part of regulatory openness. The SEC neither endorses nor fact-checks them.

For more up-to-date crypto news, you can follow Crypto Data Space.