XRP for the win... Watch David Schwartz's exclusive W3DD interview
Schwartz mentions U.S. may be closer to innovation, although regulation has been "frustrating"
Howdy, Web3 Deep Dive Friends! 🤠
Things are finally looking up for the crypto space, and it’s not just because prices are have been soaring the past couple of days…
In case you haven’t heard the news, the U.S. Securities and Exchange Commission (SEC) ruled on Thursday, July 13th 2023 that Ripple’s XRP token is NOT a security in regards to programmatic sales on digital asset exchanges.
Although SEC Federal Judge Analisa Torres did rule XRP to be a security when sold to institutional investors (under the conditions of the Howey Test), XRP not being classified as a security otherwise is a small, yet important victory for the entire cryptocurrency, blockchain and Web3 sector (Margaret Rosenfeld’s tweet thread sums this up well).
Read on to find out more!
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“Regulation has been frustrating” says David Schwartz, Ripple CTO/employee #2 at Ripple
If you didn’t already watch David Schwartz's exclusive interview on W3DD from Consensus 2023, now is the time to go back and check it out. In addition to his interesting commentary, Schwartz opens up about the U.S. regulatory environment at about 40:17 seconds into the YouTube video. He notes that regulation has been “frustrating,” further saying that he hopes innovation in the U.S. doesn’t get pushed offshore. He says:
“I just hope there’s an opportunity to convince regulators that the United States is going to miss out on a wave of innovation.”
Watch the full interview here:
Listen to the full interview on Spotify
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Be sure to join Rachel for W3DD’s very first live Twitter space on Monday, July 17 at 2pm CT. Rachel will be joined by Sandy Carter, COO of Unstoppable Domains to chat about digital identity and all things Web3.
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New on Rachel’s Cointelegraph column
In case you missed it, Rachel also recently published an article on her Cointelegraph column about decentralized storage.
Read it here!
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This is a huge win for the crypto industry, signaling a positive shift towards regulatory clarity. The XRP ruling could pave the way for more growth and innovation in blockchain and Web3!