Wes Davis is a play editor who covers the latest successful tech and entertainment. He has written news, reviews, and much arsenic a tech journalist since 2020.
In a brace of societal media posts today, President Donald Trump named immoderate cryptocurrencies he says will beryllium portion of a Crypto Strategic Reserve being created by an executive bid he signed successful January. Those see Bitcoin and Ether, which he says “will beryllium the bosom of the Reserve.”
Trump said successful the first of his 2 Truth Social posts that his bid “directed the Presidential Working Group to move guardant connected a Crypto Strategic Reserve” that besides includes XRP, Solana (SOL), and Cardano (ADA). Trump hinted astatine specified a reserve connected the run trail, telling attendees of a crypto conference past twelvemonth that the US would ne'er waste its Bitcoin holdings.
Under Trump, the Securities and Exchange Commission (SEC) has quickly backed distant from the wary stance toward cryptocurrencies it held anterior to Trump’s inauguration this year. The agency has precocious dropped aggregate investigations and lawsuits against cryptocurrency firms that alleged securities violations.
One of the currencies Trump mentioned today, Ripple’s XRP, was the taxable of a 2020 SEC lawsuit successful which a judge ruled that it functioned arsenic an unregistered security, but only erstwhile Ripple sold it to organization investors. The SEC appealed that determination in October past year; arsenic of this writing, that entreaty is ongoing.
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