XRP Law Expert Jeremy Hogan presented a speculative view that the US government could add XRP to the digital asset reserve. Hogan suggested that this possibility was ignored by some crypto communities, but the government could approach the issue from a different perspective.
Response to XRP criticism
Bitcoin supporters argue that XRP is not suitable as a reserve asset. According to them, a large amount of XRP that Ripple holds causes the existence to be centralized, which makes it difficult to adopt as a reserve asset.
However, Jeremy Hogan opposed these criticisms and said that the government did not only evaluate the XRP from a crypto perspective. According to him, the main purpose of the government may be to evaluate digital assets for economic and strategic reasons.
Can XRP be adopted as a reserve asset?
Hogan said that there may be a few reasons why the US government adopted XRP as a reserve asset. First, he said that XRP can be seen as a means of protection against future economic crises.
However, he stressed that the government may have a broader economic foresight against global financial changes. He focused on the possibility of XRP to be considered as a strategic being in this process.
USA’s status on digital asset reserve
Currently, the US government has not made a final decision on whether it will create a national digital asset reserve. However, a Presidency Working Group started to work to evaluate the possible risks and benefits of this initiative.
Within the scope of Donald Trump’s executive order for digital asset markets, this group will provide a comprehensive report to the National Economic Policy Consultant within 180 days. This report, which is eagerly awaiting crypto investors, can open the doors of a new order.
Ripple’s moves on the reserve model
While it remains unclear which crypto beings will be included in the potential reserve, Ripple makes efforts to prevent this process from shaping around a single entity (eg Bitcoin).
Ripple CEO Brad Garlinghouse argues that the US government should form a very wealthy reserve. Garlinghouse met with Donald Trump on this issue.
