Good Morning ,
RIPPLE’S GARLINGHOUSE TO JOIN TRUMP’S U.S. CRYPTO ADVISORY COUNCIL? HERE’S WHO IS IN THE RUNNING
▪️Ripple CEO Brad Garlinghouse is shortlisted for a key role on President Trump’s U.S. Crypto Advisory Council.
▪️The council will address crucial debates, including whether cryptocurrencies should be classified as commodities or securities.
▪️Other prominent crypto leaders, including figures from Kraken, Coinbase, and Circle, are also considered for council positions.
Ripple CEO Brad Garlinghouse is reportedly on the shortlist for a key role on President Donald Trump’s U.S. Crypto Advisory Council. This council, formed by executive order in Trump’s first week back in office, promises to play a pivotal role in shaping the future of cryptocurrency policies in the U.S.
Crypto regulations are certainly going to get a new look now. Is Ripple now on the fast-track to success?
U.S. Crypto Regulations Under Review
Under the Biden administration, many crypto companies faced challenges due to unclear and strict regulations. However, Trump’s push for innovation in digital assets is leading to a new direction.
The advisory council aims to bring industry leaders together to discuss the future of crypto in the U.S. and craft policies that foster innovation while ensuring proper regulation.
Commodities or Securities: A Critical Debate
One of the council’s biggest tasks will be determining whether cryptocurrencies should be classified as commodities or securities. This decision will have a direct impact on which regulatory body—the SEC or CFTC—will oversee the industry.
Garlinghouse’s Impact on Crypto Regulations
Garlinghouse’s potential role on the council has sparked much discussion about Ripple’s influence in shaping crypto policy. Known for his long-time advocacy for clearer regulations, Garlinghouse could play a key part in creating a more defined and fair regulatory environment for the entire crypto industry.
Other Crypto Leaders in the Running
Garlinghouse is not the only one being considered for a position on the council. Other well-known figures in the crypto world, including Kraken’s former general counsel Marco Santori, crypto podcast host Frank Chaparro, and CEOs from major companies like Circle’s Jeremy Allaire, Coinbase’s Brian Armstrong, and Crypto.com’s Kris Marszalek, are also under consideration.
Could XRP Join a National Reserve List?
There are also rumors that XRP could be included in a national reserve list, although nothing has been confirmed. Some speculate that Trump’s previous meeting with Ripple executives before his inauguration could be related to this development. If true, this move could position Ripple as an important player in the U.S. financial system.
With key players like Garlinghouse in the mix, the future of U.S. cryptocurrency regulation is bound to take a more defined and innovative turn.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
OHIO LAWMAKERS PUSH FOR STATE BITCOIN RESERVE AND CRYPTOCURRENCY PAYMENTS
Ohio introduces a bill to create a Bitcoin reserve fund, allowing public funds and tax payments to be handled in cryptocurrency.
▪️Ohio plans to create a Bitcoin reserve fund managed by the state treasurer.
▪️The bill requires Bitcoin investments to be held for at least five years.
▪️Ohio aims to lead the nation in government-backed Bitcoin initiatives.
Ohio is advancing plans to create a Bitcoin reserve fund. Senate Bill 57 introduced by Senator Sandra O’Brien on January 28 grants authority to the state treasurer to invest public funds exclusively into Bitcoin.
The proposal moved to the Financial Institutions, Insurance, and Technology Committee for additional evaluation the day after its introduction. The proposed law would mandate that all Bitcoin investments stay in the fund for at least five years.
The proposal mandates Ohio’s treasury oversee Bitcoin investments through secure safekeeping systems. The law also requires state agencies to receive Bitcoin as payment for taxes, fines and other government fees. All cryptocurrency payments that state agencies receive will be converted to Bitcoin before being deposited into the reserve.
Under the bill’s provisions Ohio residents, government bodies and universities can contribute Bitcoin donations to the fund.
Previous Crypto Initiatives in Ohio
Ohio has explored cryptocurrency adoption in the past. In December, House Republican leader Derek Merrin introduced House Bill 703 to support Bitcoin investments in state reserves.
Additionally, state senator Niraj Antani proposed a bill to enable tax and fee payments using cryptocurrency. The latest Bitcoin reserve bill builds on these earlier efforts, introducing a structured approach for state-level Bitcoin investment and storage.
National and Statewide Trends
The initiative aligns with federal discussions on digital asset adoption. President Donald Trump’s executive order called for research into a national digital asset reserve. Ohio lawmakers view these federal developments as potential catalysts for state policy adjustments. The bill seeks to position Ohio as a leader in government-backed Bitcoin initiatives.
Several other U.S. states are also considering Bitcoin reserve legislation. Utah, Arizona, and South Dakota have introduced similar bills. Utah’s House committee approved a bill allowing treasury funds to include digital assets.
Texas passed the Texas Strategic Bitcoin Reserve Act, requiring the state to hold Bitcoin as a reserve asset for at least five years. On January 28, Arizona’s Senate approved its own Bitcoin reserve bill, permitting public funds to invest up to 10% of assets in virtual currencies.
According to Bitcoin Reserve Monitor, at least twelve states have proposed legislation for Bitcoin reserves. The increasing interest in state Bitcoin holdings reflects a broader trend of cryptocurrency adoption at the government level. Ohio’s new proposal could establish the state as a key player in this movement.
@ Newshounds News™
Source: CryptoNewsLand
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound’s Podcast Link
Newshound’s News Telegram Room Link
Q & A Classroom Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Subscribe to Seeds of Wisdom Team™ Newsletter
