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(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
SEN. TED CRUZ: FIGHTING REGULATORY OVERREACH, CHAMPIONING BITCOIN
In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation and why Texas is becoming a top crypto hub.
In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader crypto industry and the future of his home state of Texas.
As a self-proclaimed Bitcoin miner, Cruz emphasized the potential of BTC to empower small businesses, drive innovation, and serve as a hedge against inflation.
Despite his optimism for the future of BTC and crypto mining, Cruz warned against hasty government regulations, stressing the need for Congress to better understand before overreaching with regulatory actions.
“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he said.
Bitcoin’s impact on small businesses
Cruz said he is “bullish on Bitcoin,” praising its capacity to provide privacy, autonomy and independence from government control.
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“Most congressional D*******s are deeply skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, autonomy and independence from the government.”
With the incoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrency like never before.”
“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I introduced legislation to prohibit the development of a central bank digital currency and to clarify that the Federal Reserve has no authority to do so unilaterally.”
Texas as an oasis for Bitcoin
Cruz described Texas as “an oasis for Bitcoin” due to its abundant, low-cost energy and business-friendly environment. He said the state’s “frontier mentality” and low taxes have made it a magnet for Bitcoin mining firms and crypto enthusiasts.
“Cryptocurrency mining requires dependable, low-cost energy, and if Texas is known for anything, it is abundant low-cost energy,” Cruz said. “I am thrilled to see so many jobs coming to Texas, and we need to make sure that trend continues and accelerates,” he added.
Recent developments, such as Hive Digital relocating its headquarters to Texas and Marathon Digital acquiring a wind farm in the state, underscore Cruz’s sentiment.
Cruz told Cointelegraph that, to his knowledge, he is the only member of the Senate who is a BTC miner and has “three miners hashing in West Texas right now.”
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“I have a weekly buy order to take advantage of dollar-cost averaging,” he said. “I’ve been investing for several years, over which time Bitcoin’s value has roughly tripled.”
@ Newshounds News™
Source: CoinTelegraph
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INCOMING TREASURY TO SELL BITCOIN ETF HOLDINGS
According to a recent report by Bloomberg, hedge fund manager Scott Bessent, who was recently nominated to be the new Treasury secretary, will divest his Bitcoin ETF holdings. The billionaire American investor owns no more than $500,000 worth of shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT). Overall, Bessent has listed more than $500 billion worth of assets.
@ Newshounds News™
Read more: U Today
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RIPPLE CTO REVEALS COMPANY’S MEDIA STRATEGY ON XRP
Ripple CTO David Schwartz breaks silence on crypto company’s approach to misinformation regarding XRP
Ripple’s CTO David Schwartz recently shared some thoughts on the company’s media strategy during its three-year legal battle with the Securities and Exchange Commission.
The case ended with Ripple getting a partial victory, after they argued that XRP, the cryptocurrency associated with Ripple, should not be classed as a security. The court concluded that XRP is not a security, but the crypto company was fined for selling coins to institutional clients.
This clarified the asset’s status, which has big implications for both the San Francisco-based company and the wider crypto market.
Schwartz talked about the challenges Ripple faced in dealing with false information about XRP during the lawsuit. He admitted that the company couldn’t do much to directly challenge the false stories about the cryptocurrency because of legal and strategic limits.
Instead, they relied on their community, also known as the “XRP Army,” to spread the right message. But this meant that misinformation and speculation spread, which was not ideal.
Schwartz said that Ripple tried not to amplify unverified claims or people spreading misinformation on purpose, but he admitted that this approach might have had the opposite effect. He said that if they dealt with inaccuracies, they might accidentally give them more credibility or visibility, which would make it harder for Ripple to respond to the media.
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Schwartz also talked about how Ripple tries to tell the difference between helpful contributions and baseless claims in the XRP community. While the company recognized the importance of fostering a positive narrative, it maintained caution in engaging with content or individuals that might harm its reputation or mislead the public. #XRP #XRP News #Ripple News
@ Newshounds News™
Source: U Today
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MASTERCARD INTRODUCES CRYPTO CREDENTIAL FOR SEAMLESS P2P TRANSACTIONS IN UAE, KAZAKHSTAN
▪️ Mastercard has launched Crypto Credential in the UAE and Kazakhstan to simplify crypto transactions.
▪️ The solution ensures secure transactions by verifying both the sender’s and recipient’s wallet compatibility.
Mastercard has launched its Crypto Credential solution, which will make it easier for people in the UAE and Kazakhstan to use cryptocurrencies. This launch enables the users to send and receive digital assets through easily memorable names instead of complicated blockchain addresses, making it easier to incorporate crypto.
Crypto Credential is one of Mastercard’s efforts to strengthen the security of digital asset transactions. Through cooperation with regulated exchanges like CoinMENA in the UAE, Fuze in Dubai, and ATAIX Eurasia in Kazakhstan, the solution is designed to enable the verification of transactions and ensure that both transacting parties have met certain verification standards. It also checks that the recipient’s wallet can accept the transferred asset.
It ensures that crypto users have a certain degree of confidence in the service, which checks the transaction details, including Travel Rule data and metadata sharing. Mastercard believes simplicity is key in crypto transactions to help boost trust among consumers and businesses.
“We are excited to see Mastercard embracing blockchain technology,” said Talal Tabba, CEO of CoinMENA. “Innovations like Crypto Credential are key to making digital assets more user-friendly, especially for those transitioning from traditional finance.”
How Mastercard Crypto Credential Works
The adoption of Crypto Credentials begins with the user’s validation in accordance with the Mastercard guidelines. After successful validation, users are given a unique alias that can be utilized on any supported exchange for transferring and receiving cryptocurrencies.
When a transfer is initiated, the system verifies if the recipient’s alias is active and if the wallet of the recipient supports the given digital asset. If not, the sender is informed, and the transaction is stopped to avoid the loss of the funds. This mechanism ensures security and ease of use since users are shielded from mistakes and deceit.
Initially, the pilot phase will cover only peer-to-peer transactions. Nevertheless, Mastercard plans to use Crypto Credentials in several services in the future. Some of the possible applications are Non-Fungible Tokens (NFTs), ticketing, and other new payment applications based on the market’s needs and legal frameworks.
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A Broader Expansion Across Regions
Mastercard Crypto Credential is not only available in the UAE and Kazakhstan. It is part of a greater implementation strategy for the company’s commercialization plans in markets across North America, Europe, Latin America, and Asia-Pacific. This expansion enables the user to transfer digital assets not only within these regions but also across blockchains and types of assets.
The new initiative has garnered support from industry leaders. Arutyun Poghosyan, CEO of ATAIX Eurasia, expressed enthusiasm about the collaboration, stating, “We are incredibly excited to implement Mastercard’s Crypto Credential technology. This partnership strengthens our position in the crypto space.”
In addition to the Crypto Credential, Mastercard has also collaborated with JPMorgan to create innovative B2B cross-border payment flows. CNF has earlier covered that the partnership links Mastercard’s MTN and JPMorgan’s Kinexys Digital Payments and is beneficial for businesses, according to CNF.
This partnership leverages a single API to streamline foreign transactions, and minimize the time that is usually lost in crossing borders and other barriers that have hitherto slowed down global trade.
@ Newshounds News™
Source: Crypto News Flash
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XRP BULLS IN ACTION? KOREAN EXCHANGE SEES STUNNING OUTFLOWS
Popular cryptocurrency XRP eyes mysterious $60 million whale activity on Korea’s biggest exchange
A big XRP transfer from Upbit, South Korea’s biggest crypto exchange, is causing some buzz about what it might mean for the popular cryptocurrency. Whale Alert tracked the withdrawal of 24 million XRP, worth about $60.63 million, from Upbit’s wallet “rDxJNb” to an address that had not been recognized before, “r9n1JL.”
It is common for such a movement to be made between the big players in the cryptocurrency game, like Ripple or major exchanges like Binance, so it’s possible this wallet could even belong to Upbit itself. But this is just guesswork, and we are still not sure who owns the address.
While it is tempting to think this is a sign that whales are building up their holdings, it’s best not to jump to any conclusions just yet. Have to do some more digging and keep a close eye on things to see what is really going on.
@ Newshounds News™
Read more: U Today
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Source: Dinar Recaps
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RIPPLE XRP AND BANK OF AMERICA: BIG CLAIMS, FEWER ANSWERS
▪️ Ripple XRP integration at Bank of America sparks debate, with claims remaining unverified.
▪️ Bank of America files 83 patents tied to Ripple blockchain, fueling XRP adoption speculation.
▪️ XRP price rises 3.39% amid rumors of BoA’s blockchain use, with $2.89 as key resistance level.
Recent claims about Bank of America (BoA) using Ripple’s XRP for internal transactions have sparked heated debate within the financial and cryptocurrency sectors. While the bank’s potential use of XRP could signal a major shift in digital payments, these assertions remain unconfirmed, marking caution necessary.
Unverified Claims and Historical Context
David Stryzewski, CEO of Sound Planning Group, made headlines during a FOX Business interview on January 6, 2025, by stating that BoA has integrated XRP for all its internal transactions. He also revealed that BoA has filed 83 patents related to Ripple’s blockchain technology, demonstrating a considerable investment in the infrastructure that supports digital payments.
However, despite this bold claim, Bank of America has not issued an official confirmation. Historical records show that BoA has been exploring blockchain solutions for years. For example, in 2017, the bank filed a patent for a real-time settlement system that referenced a “ripple” distributed ledger without explicitly naming XRP. This action suggests an ongoing interest in decentralized technology but raises questions about its current adoption practices.
Technical Analysis and Market Sentiment
Market reactions reflect the news, with XRP trading at $2.41, a 3.39% daily increase. Analysts have identified a critical resistance level at $2.89 and support near $2.00, creating key zones for traders to monitor. Bullish sentiment has surged due to the potential for broader institutional adoption, but skeptics urge caution because of the lack of official statements.
Broader Implications and Future Outlook
If Stryzewski’s claims are accurate, this development could set a precedent for cryptocurrency adoption in traditional banking systems. RippleNet, where BoA is a governance member, shows the growing collaboration between financial institutions and blockchain solutions. Still, the absence of verifiable evidence highlights the importance of relying on official updates for a clear understanding.
Meanwhile, the XRP community remains optimistic, driven by Ripple’s recent achievements, such as the launch of the RLUSD stablecoin. This milestone, along with XRP’s increasing adoption, underscores the asset’s growing role in global finance.
@ Newshounds News™
Source: Coin Edition
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XRP LEDGER UPGRADE: IMPORTANT CHANGES YOU MUST KNOW
The XRP Ledger (XRPL) is currently in the process of a major technology update, with several amendments already announced for voting.
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The XRP development team revealed that about 80% of the XRPL servers have been successfully updated, and older version servers are expected to be automatically disconnected once this update is complete. This update will bring a number of important changes that have the potential to impact various aspects of XRP and XRPL usage as a whole.
Update to XRP Ledger v2.3.0
XRP Ledger v2.3.0 brings several important amendments aimed at improving network efficiency and functionality. Some of the key changes included in this update include:
▪️XLS-70: Credentials
This amendment allows you to provide credentials to the ledger and use them to automatically approve incoming payments.
▪️XLS-33: Multi-Purpose Token
This change presents a new, more optimal version of the token, especially for institutions operating in the Decentralized Finance (DeFi) sector. This aims to support the broader adoption of fungible tokens in DeFi.
▪️XLS-37: AMM Clawback
This amendment allows the use of tokens with a clawback feature in Automated Market Maker (AMM) systems, providing more flexibility in the management of revocable tokens.
▪️XLS-52: NFTokenMintOffer
With this amendment, you can make sales offers for Non-Fungible Tokens (NFT), opening up more opportunities in the ever-growing NFT market.
▪️Bug Fixes and Efficiency Improvements
In addition to the major amendments, this update also includes a number of technical improvements, such as fixing a bug that resulted in missing links in the NFT directory and improvements to the AMM transaction process that can improve overall system performance.
XRPL Server Update Progress
As part of this update, the development team also announced that around 80% of the XRPL servers have been successfully updated. This marks a major step in ensuring the XRPL network remains relevant and efficient.
Servers using versions 2.2.x and older are expected to automatically disconnect once the update is complete, forcing most users to upgrade to stay connected to the network.
Implications of the Update to the XRP Network
In addition to technical updates, recent data shows a significant increase in activity on the XRP network. According to data from CryptoQuant released in November 2024, XRP’s Network Value to Transactions (NVT) ratio saw a spike, indicating increased activity on the network.
Further analysis from CryptoQuant also showed significant changes in transaction types on XRPL, especially in “OfferCreate” transactions, reflecting increased trading activity on the network.
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In January 2024, payment transactions accounted for 88% of all transactions on the ledger, while “OfferCreate” transactions accounted for 12%. However, in November 2024, both types of transactions will experience equal adoption with a contribution of 50% each. This shows that the adoption of new features, including decentralized trading (DEX), is starting to gain popularity among XRPL users.
XRP Outlook Post Update
In December 2024, crypto analyst Paul Barron revealed that the XRPL network was on the verge of a major breakthrough. According to him, the update that is being carried out has the potential to trigger a significant spike in the price of XRP.
Even though the price of XRP is currently hovering around $2.3 after experiencing a 4.4% decline in the last seven days, optimism for the future of the XRP network remains high, especially with increased activity and ongoing updates.
Thus, the XRPL v2.3.0 update not only brings significant technical changes, but also opens up new opportunities for adoption and further development in the XRP ecosystem, both for individuals, institutions, and developers in the DeFi and NFT sectors.
As the server upgrade nears completion, the XRP network is expected to become stronger and more competitive in the ever-evolving blockchain world.
@ Newshounds News™
Source: BitTime
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LEDGER INSIGHTS – 13 JAN – TOKENIZATION, DIGITAL ASSETS NEWS
TOKENIZATION AND DIGITAL ASSETS: POLICY & LEGAL
FDIC Vice Chair acknowledges crypto debanking, outlines policy plan. He’s a candidate to become chair.
Ledger Insights
United States Consumer Financial Protection Bureau (CFPB) interpretive rule proposes to include stablecoins, crypto in Electronic Fund Transfer Act (EFTA) as digital payments. This would give consumer protections such as the right to dispute errors or fraudulent transactions. Comments should be submitted by the end of March.
CFPB-EFTA Document
OECD explores impediments to tokenization adoption.
Ledger Insights
New Springer legal book including digital assets
Governance and Control of Data and Digital Economy in the European Single Market: Legal Framework for New Digital Assets, Identities and Data Spaces
OPEN ACCESS DIGITAL LINK
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Indonesian commodities regulator transfers digital asset responsibilities:
the Commodity Futures Trading Supervisory Agency (Bappebti) transferred its digital assets duties including crypto and derivatives to the Financial Services Authority (OJK) and Bank Indonesia (BI).
OJK takes on most of the responsibilities with the central bank supervising derivatives where the underlying assets relate to money markets or foreign exchange. KK Advocates
Kenya’s Treasury publishes a draft set of digital asset rules and requests feedback.
Draft Document
European Central Bank’s Bindseil and others explore tokenization terminology. Tokenization Terminology
TOKENIZATION & DIGITAL ASSETS: PROJECTS, PARTNERSHIPS
NUS, Northern Trust and UOB partner to tokenize green bond data. Part of Project Guardian. Ledger Insights
Ownera, which provides a blockchain interoperability router FinP2P, partners with Layer 1 blockchain Kadena. LINK
Germany’s Bundesbank advertises for (more) DLT technical roles. Good news for wholesale DLT settlement solutions? LINK
Blockchain Security Standards Council issues first two standards. Its members include Anchorage Digital, Coinbase, Fireblocks, OpenZeppelin, Ribbit Capital. One of the standards is on asset integration – such as tokens. LINK
@ Newshounds News™
Source: Ledger Insights
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Source: Dinar Recaps
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