What Do Jerome Powell’s Recent Comments Mean For XRP?

December 7, 2021 3:54 pm

There is a lot of speculation as to whether cryptocurrencies are a completely spontaneous invention, or if they are the work of government agents.

More specifically, many speculate as to the role of XRP and Ripple in all of this.

Recently, Jerome Powell The Chairman of The United States Federal Reserve Bank elucidated the central bank’s goals for cryptocurrencies and digital assets.

He mentions that going forward there will be a particular emphasis on cross-border payments, citing speed and lower costs as two metrics to target.

All of this is very reminiscent of Ripple’s goals for XRP, and some speculate that this is the reason why it may become the #1 cryptocurrency in the world:

Daily Hodl writes:

In particular, the partnership will support our analysis of digital currencies – including central bank digital currencies; help to improve our current payment system – with a particular focus on making cross-border payments faster and less expensive, and it will provide new tools to aid our supervision of the financial system.”

A few weeks ago, Powell told Congress that there were no plans to ban cryptocurrencies while at the same time saying that stablecoins required to be regulated.

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