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Welcome back to the show everybody check Out these headlines what about a Ethereum spot ETF how about that that's In the works you're going to get the Date on that if it happens and let me Tell you something else too it is Officially begun ladies and Gentlemen The Campaign to take down USD tether Just happened in Congress and you're Going to see it all somebody rolled that Beautiful Intro digital perspectives with Brad K Come on In welcome back to the show everyone you Can follow us on Twitter and YouTube for Exclusive content at the top of the Screen and dig perspectives. if you want To join the freedom zone or the dpmg no Doubt about it right now we are $ 2.01 Trillion market cap for crypto the Market is off by 2.3% however Bitcoin Holding over 51,000 200 right now 2700 Plus for ethereum 97.5 billion plus for Tether market cap xrp 54 and 29.9 Million uh billion market cap for xrp Off by 3.7 on the 24 and up by 5.1 on The 7day let's look at the range of Price very quickly here as we're ranging Between 05476 and. 5684 on the top we are Sitting towards the lower side of that Range again as we're off 3.4 we'll keep An eye on it what I do know is is that The Market's moving and I think it's
Going to continue to move over time here And we may see a slight pullback because We got to talk about tther today but We're 75 days away from xrp Las Vegas Baby and you know what I just want to Highlight some of the new people that Are going to be there Joe and Doo the COO of link to we know John deon's gonna Be there with us and you can believe it Now we might be talking to a senatorial Candidate by the time he hits our stage How incredibly exciting that will will Be for Ron Pro CEO of pieres I'm tell You something now this guy what they're Doing building the bridge from the Ethereum virtual machine to The xrp Ledger and then what do we know that's Happening fundamental Newswise SEC has not declared whether Ethereum is a security or not but their Poster child baby digital asset platform Prometheum that they've given the Coveted license to said they're going to List ethereum first and they're going to List it as a Security this gets interesting that Could cause a mass Exodus and Fon Pratt May be the bridge to get off of that Security platform I don't know but Perryan borne's going to join us the Honorable chrisan Carlo oh my you're Going to wait what he's going to say David Schwarz for a fireside chat ladies And gentlemen that is going to be
Absolutely electric I tell you we'll Have the bullet points of what's going To get covered on that and topics of Discussion sign s mcgoffin the CEO of Uphold CEO of I trust oh my goodness and There's so much going on there you know We need to ask him when do they intend To go public if at all we're going to Talk about that Elanor terret from Fox News and we know so so many others Jeremy Hogan virtual appearance there Robin oconnell Nancy Beaton I tell you And the list is still growing ladies and Gentlemen get your ticket before it's Too late and I want to thank fruition Films who is making the documentary xrp Unleashed for having me participate I Have to tell you these guys know exactly What they're doing and you are going to Be shocked at how incredible the Information they've captured uh just What I was able to see that was filmed And uh what I saw took place you're Going to be blown away the level of work And quality and I am proud to announce That xrp Unleashed is going to be at xrp Las Vegas and this is going to be your Opportunity you want to put an indelible Mark in this space to be in the xrp Army You're going to have a chance to do it At xrp Las Vegas because xrp unleash Documentary and fruition and Productions Are going to be filming over the two Days don't you miss it it's going to be
Something oh my goodness these guys are Crushing it all right let's get into This because there's a lot of news Happening and I can't wait to celebrate At xrp Las Vegas with all of you but Let's get over this right quickly here This is Chad Stein grber who's been Crushing he says oh baby I found the First ETF for ethereum 19 B4 he says Filing here remember it doesn't get to 19 B4 stage unless it it's going to get Listed so Arc shares 20 Arc 21 shares Listing on the C booe and you can see Now he's got this listed here showing it And May 23 is go time don't fight it It's inevitable Black Rock will see it Through he's saying right here here so We have to watch May 23rd and see if This thing gets listed cuz as he said The 19 B4 doesn't usually happen unless It's absolutely a go so keep your eyes Peeled for May 23rd shout out to Chad For that one now let's talk about this Because meanwhile banks are going hey Wait a minute we want to have some Access to all this ETF business they're Literally fighting the SEC to let them Offer Bitcoin ETFs now oh then this gets Interesting right because now the SEC Doing the bidding and suppression of This market for the banks now the banks Are seeing the trouble that they've got Coming in their future and I just went Over yesterday how Jeff Bezos sold now a
Total of$ billion doll worth of his own Stock you don't do that if you believe Your Stock's going to go up in six Months or a year you do that if you Believe the troubles coming right I mean We know the guy's not got a liquidity Issue right so let's understand now the Banks I think are looking for some of That what Larry think calls a flight to Quality meanwhile you're seeing the Positioning take place here listen to What Jerome pal says and this is from a While ago if my memory serves me Correctly here but listen to what he Says about crypto assets crypto and Digital Assets in the US has got a you Know market cap of around $ 1.1 trillion Dollar right now uh it's been there for A bit do you acknowledge that this asset Class has staying power in the US Economy It appears to have some staying power of Course that and then he goes on but I Wanted to show that the level set for What we're getting ready moved to and Again that was an earlier clip when back When it was around trillion bucks right We're now over two trillion at the point But the point here is that this is what Took place yesterday right or two days Ago so let's understand this from just a Couple days ago now this here coinbase And circle both team up against tether And Congress and black rock to and I've
Got that for you in a in a moment let's Take a listen to this clip case in Points ofac has sanctioned around 560 Crypto addresses in total but coinbase Has identified more than 8 million Through our proactive investigations by Extrapolating out from these ground Truth ofac addresses we're able to stop The flow of funds to Bad actors in real Time while onshore regulated exchanges Invest heavily in compliance to stop bad Activity criminals continue to seek out Offshore platforms without those same Robust anti-money laundering programs And controls those offshore entities Often play jurisdictional whack-a-mole Attempting to avoid tough anti-money Laundering rules and expecting that Regulators won't care the US government Should use all of its existing tools to Go after these platforms many recent Enforcement and actions in the crypto Anti-money laundering space are good News accountability should happen the Technology behind smart contracts also Allows for the freezing of assets Without delay on chain beyond the Ability of traditional financial Institutions with Fiat Anyone with an internet connection can See for instance the exact amount of Usdc that has been frozen by Circle and Sanctioned addresses as such payment Stable coin issuers should without fail
Be able to point to onchain data to Demonstrate compliance with sanctions Laws unfortunately the sector is not Without rebuke some digital asset Companies have a public track record of Proclaiming themselves above AML CFT Regulation even if issuing a US dollar Back Token so why is it so important to get Regulation of the sector right the power Of the US government's economic tools Depends on the jurisdiction that Treasury has over us financial Institutions and by proxy the US dollar And international payment Services as a result many strategic Competitors have been motivated to find Alternative Payment Systems so they can Be Out Of Reach of us sanctions and law Enforcement uh oh the United States Should have a whole of government effort Approach to study these efforts and Potential challenges to US dollar Dominance the US government should also Strengthen the role of the US dollar in The future by supporting Innovation that Would make the dollar the base currency Of digital assets regulated US dollar Denominated stable coins import Compliance and the rule of law to the Digital asset space so it is important To ensure that all US dollar back stable Coins have compliant BSA programs and Adhere to ofac
Sanctions us touch point should also be Responsible when they are facilitating The existence of these non-compliant Tokens Furthermore continued domestic Enforcement of existing regulations is Critical recent actions by the US Government have demonstrated that Digital assets companies are not Out Of Reach case and so this is where they're Leaning into ofac the office of foreign Asset control right I believe is the Acronym there now uh just as a reminder That is the foreign side right the Office of foreign assets right so what Anything that's touching us from outside Of its borders it's covered from there Now these are these are organizations Inside underneath of the treasury right Underneath the credential regulator of The treasury right then you have ESO on The domestic side the financial Stability oversight Council which sees The domestic side of those same Affairs Right so that that's just a level set Let you know what's going on but it Doesn't stop there take a listen Senator Elizabeth Warren in December oh this is A the clip that goes to it this ties in Here and shout out to xrp drops for this Is a great multi clip I'm only going to Play the top one but this is from when Uh we had perryan boring from the Chamber of digital Commerce on and
Talking about the stop crypto ban that Elizabeth Warren was trying to to push And I think that has been stopped at This point but we need to have them back On here to get that uh for sure we want To make sure Elizabeth Warren doesn't Get away with anything Elizabeth Warren In December of last year claimed that Digital asset firms in the United States Are attempting to subvert anti-money Laing and terrorist Finance laws I Believe that her claims are frankly Blatantly false and and I think it is Important to remind the public of all The work that your companies do to Prevent illicit Finance circle is the Largest us-based stable coin issuer Would you also provide an overview of Circle's anti-money laundering Compliance program and describe the Additional regulatory requirements that Circle must comply with a lot of it Overlaps with what my colleague at Coinbase said is in his compliance Program we do robust kyc uh sanction Screening SAR filing reports these are All the aspects that a traditional Financial firm has as well circle is Regulated as a money transmitter in 48 States and jurisdictions we're Registered with finsen these are the Same type of regulations that PayPal and Venmo also comply with we also employ Blockchain analytics uh so we use um the
Ability to look at transactions on chain So that we can see uh elicit activity That might be using usdc the stable coin That we issue uh and we're able to work With law enforcement uh when we see that Activity or they alert us to activity as Well there you have that and now that's Coinbase and Circle right that's coinbase and circle Now uh this is still coinbase and They're going on and on but I think We've got some I think we have some Overlap from some of these clips so uh For time sake and you see their position Where they're going here we're the Answer tether's not the Answer in short well here's Black Rock Piling on they throw miners in it too so The idea here appears to me to be that Why don't we buy up everything off the Market so that we just hold it all and Then if anybody wants exposure to these Assets they're going to have to get an ETF ultimately focusing exclusively on On and off ramps is is insufficient in The long term especially as the vision Of this space is to move more and more Into decentralization and as you get More Acceptance in exchange for goods And services you can't rely on those on Andof ramps anymore the vision here Demands that we have a vision to be able To focus regulation Beyond there as the Risk profile changes so in the defi
Report that you mentioned we highlighted Uh lots of different types of technical Features and compliance controls that Can be built in at different layers of The ecosystem that could F Focus for Example at the network layer where Minors exist um a good place to start Might be something like sanctions ofac Has already stated in their compliance Guidance that miners may already have Sanction screening obligations so a good Place to start right now before imposing New AML obligations on minors or those Who exist at the network layer could be To enforce the existing obligations when They when they validate transfers going To sanctioned actors like Lazarus group Okay so what we have here is the Official full full court press That's What I'm seeing take place and I'd like To remind everybody right now what we've Known since December 18th that tether Reveals partnership with the Secret Service in the FBI in letter to the US Senate please don't take us down please Don't shut us down right we keep trying To tell you we don't show you our books But at the same time we're telling you We're legit right th this this something Has to be done look the question we have Put forth here is Will tether be Unwound And disbanded and then the money and Capital is pushed over into something Else like uh USD Circle and and then
Properly regulated Right not many people realize the secret Service agency was created to Monitor And Chase down counterfeits of the US Dollar did you know That isn't that Something now we have to see what Happens here tether is responsible for a Lot of US Treasury buying right so what Will happen at this we don't exactly Know but we can tell this it is not Outside of the bullseye they are Targeting it it's just what it's going To look like when they do what they're Going to do we don't know but they're Going to do something and here I want to Play this clip very quickly here this an Old clip of Brad Garling house in Korea And he's telling you exactly what the Vision was back in the day and this is From back in 2020 from Mickey B fresh Who posted this take a listen because They saw it as a you rather than having A smaller number with a very high price They saw it as something they wanted to Be A effectively a global Reserve Currency I think the opportunity because There you have it that was the vision From Brad Garling house and as I say Here we are three going on four years Later here Right and here we are some may have lost A vision and that's okay but as Miguel
Viaz Chris Larson and Brad garlinghouse Have said themselves that's the goal I'm A macro investor I still believe him in My opinion it's just that That kind of talk scares regulators and Governments and the language has had to Soften over the years so not to scare Those governments and Regulators around The world so they can understand that Xrp and The xrp Ledger is a complement To the financial system not a Threat the goal is the same now how to Get there may have shifted but the goals Are the same once governments adopt Value protocols like the military and Governments did with using the internet First before Consumers that is when we will see the Cambrian explosion we're waiting for the Same thing we've always needed Regulatory legislative legal Clarity That's where we are that's why we're Seeing the testimony two days ago that Tether's still an issue and then there's This unresolved question here and I want To thank wrath a Coman for pointing this Out and bringing it up he says ug or uh Whatever one it is uh he says after Interesting conversation about The xrp Ledger stable coins one mention of world Bank's 2021 description of xrp as a Stable coin runs wild it's not here's The dock notice how they're defining it Non-standard relatively is doing a lot
Of lifting here and he's right it is Doing a lot of lifting stable coins Refer to a class of digital currencies That are relatively stable in terms of Their price and that was the same clip That highlights in the World Bank report Where he got that from that in fact and Here is the link to the World Bank Report very quickly so you can see it And I'll just slip down to the page very Quickly here so you can all see exactly What the reference is so there's no Confusion I know most people have seen It but there's new people coming on Every day so let's just take a quick Second and give them the Highlight Reel Right because it's R it's coming up right here one second Here I might have just passed it let me Get this for us you can tell we're live Ladies and gentlemen that's how we do it Right so here we go all right so here we Are right here right I think there the Next Page private stable coin there it is Right here so okay so you can see right Here stable coins for crossb payments in The clip that he put stable coins refer To as digital asset or digital Currencies that are relatively stable in Terms of their price right then it goes On it's the world bank now now stable Coins offer in instantaneously process It says two digital currencies that fall
Into this category are xrp and xlm That's what they said well the Interesting thing is is that they're not The only ones that say That now he does highlight some other Information here but the point is here Is I wanted to respond to this because He has a great point it is something to Consider and it has not been lost on me Either we've talked about this over the Years but the real question left for me Is will automated market makers and Liquidity pools do the rest of the Lifting on relatively stable not to Mention this question is for credential And Market regulators and Banks how do they See xrp after those features and things Like clawbacks for payments are brought On which just recently Was automated market makers and Liquidity pools are going to become an Integral part of the composition of the Xrp asset and The xrp Ledger because It's absolutely designed to be a Stabilization mechanism for the xrp Token right that's what it's designed to Do is to be a stabilization mechanism And provide liquidity in massive amounts Without having to go to the centralized Exchanges and call on the order books And drive the price up every time you Need to make a Payment that's the beauty of it but
Here's here's the question one thing I One thing I know is I don't think we Want xrp to fall in a cat 2 asset Category because banks will never use it For payments if they have to have a 1200% risk weight average to back it While using it for payments won't be Deemed Feasible we clear that hurdle and we all Know the answer and that's all I'm Looking for and I do appreciate wrath Common's work very much and we don't Always align and that's fine honestly This is how we get the best out of one Another right without name call and all This other crazy stuff goes on on Twitter good Lord um but here is the Cat 2 that we need to look at right Cat 2 Clearly says if you're in cat 2 they Highlight Bitcoin is Cat 2 which Requires Banks this is from the bis now This requires Banks to carry a weighted Risk average of 1,50% that's that's that's that's a Deterrent for banks saying you're not Going to want to hold this you're going To have to hold 1,50% on top of whatever You're holding That is a deterrent built into the Requirement saying yeah stay away from It however this is where the question Remains and it look and if we if we find Out from a regulator from a from a Banker from a government officials that
This does not apply then we better start Asking ourselves how in the hell xrp is Actually going to get over the Home that's the point and this is a Quick important important reminder here Too we have to remember that Mark Carney The former Governor of the bank of England also mistakingly wink wink Called xrp a global stable coin too in The G30 report the largest 30 countries Of the World it does appear that on a banker Regulator level that they may have a Different view of the asset I'm not Married to either but this isn't just One person saying this it's the world Bank and the former Governor of the bank Of England in a G30 report I do love to Smell a crypto in the morning or should We say stable coins I love this Space we'll have to see what happens Right we'll have to see what happens we Will see I mean I believe something on a Macro level has to underpin the Dominance of the US dollar so it can Remain a world Reserve currency Regardless of the other assets that will Be able to be used anywhere at any time Because the xrp Ledger is also a Decentralized exchange and it can Exchange value of anything to Anything damn right baby let's look at This chart real quick before we get out Of here xrp got rejected at 57 cents
Resistance again so we need to pay Attention to that remember our biggest Resistance level are at 5862 cents and You know we're at 54 right now so we're In no danger of that at the moment right So watch for the watch for the lower Lower dip at this point and I thought This was a nice chart now this is from Egg rag crypto shout out to egg rag Crypto right market cap xrp dominance Percent report and what I love about This is you can see this channel here And where we are here and if we could Stay here and bounce off the top of this Channel I don't have to be a an analyst To know what that could look like or if We come down and touch here at this Baseline right and then pop off one of These two lines here we see a great Level of support right here so we'll Have to watch and see if that happens Either way we are in a pretty remarkable Time according to the charts now whether Those indicators will plan out to a a Direction that we all want is another Matter and this looks a lot like a Direction we would all want now whether It's three times two times 14 eight Times whatever this time may be or not Let's just hope it's not a negative time Right that's what we're really hoping I Couldn't be more excited to see it all Unfold digital perspectives we're going Into the freedom Zone not Financial
Advice from me or anyone else and what We're going to talk about today is how We got here and the real danger for Banks and digital asset technology and It's much deeper than you think and We're going to get into it right now in The freedom Zone dig perspectives. comom Come on In
