Crypto attorney John E. Deaton rebutted a report claiming that the Securities and Exchange Commission (SEC) assigned certain roles to XRP, ADA and SOL.
Deaton clearly stated on social media platform X that the SEC did not release any such information.
everyone:
@secgov did not release anything like that. https://t.co/pbromzbe6a
– John E. Deaton (@johnedeon1) March 14th,
What did the dispute report claim?
The report, published on the Crypto News Platform hours before Deaton’s rebuttal, claimed that the SEC had designated XRP for state-level financial transactions, and the ADA had designated ADA for academic qualifications and government services, as well as Sol for fast blockchain applications.
The article further argued that these are three cryptocurrencies, President Donald Trump, the three cryptocurrencies the US government said would include in the National Cryptocurrency Reserve.
Related: Is this XRP proposal on the SEC website authentic? Questions swirl
According to a non-credit report, the SEC has revealed that the US government will use XRP for state-level financial transactions, optimizing government payments and using interbank liquidity. The report added that the government will also use ADA for academic credentials, smart contracts for government services and secure infrastructure management.
Furthermore, the news platform argued that the SEC has made it clear that the government will implement SOL in high-speed blockchain applications such as real-time government databases, secure voting mechanisms, and digital identity management.
Market Response: Temporary Profit, Long-Turning Questions
Neither the US government nor the SEC confirmed or denied the request for the original report when writing this report, but the affected Cryptos recorded positive returns and committed bullish invasions in the market.
Related: Bitcoin Price Correct: Trump Clip Reserve Announcer “Buy Rumors and Sell News” Market Reaction
XRP surged 10% between Friday evening and early Saturday mornings, rising from $2.238 to $2.475. The ADA registered an 8.7% gain after a surge from $0.6960 to $0.7577. In the meantime, Sol won 10.33% after a surge in price increases from $122.92 to $136.09.
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