{"id":67160,"date":"2024-09-16T13:57:14","date_gmt":"2024-09-16T13:57:14","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=848617"},"modified":"2024-09-16T13:57:14","modified_gmt":"2024-09-16T13:57:14","slug":"xrp-poised-for-growth-as-congressman-introduces-bridge-digital-assets-act","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/xrp-poised-for-growth-as-congressman-introduces-bridge-digital-assets-act\/","title":{"rendered":"XRP Poised for Growth as Congressman Introduces Bridge Digital Assets Act"},"content":{"rendered":"<p> <img loading=\"lazy\" width=\"1792\" height=\"1024\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce.webp\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Ripple and Russia\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" srcset=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce.webp 1792w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-300x171.webp 300w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-1200x686.webp 1200w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-768x439.webp 768w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-1536x878.webp 1536w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-150x86.webp 150w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-450x257.webp 450w\" sizes=\"auto, (max-width: 1792px) 100vw, 1792px\" \/><\/p>\n<ul>\n<li><strong>American Congressman John Rose just proposed a major BRIDGE Bill to Congress.<\/strong><\/li>\n<li><strong>This Bill might favor XRP despite the community&#8217;s disagreement on whether it is a direct endorsement for individual crypto projects.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p><span style=\"font-weight: 400;\">U.S. Republican Congressman John Rose of Tennessee introduced a new bill for the crypto space on September 10, 2024. The <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/johnrose.house.gov\/sites\/evo-subsites\/johnrose.house.gov\/files\/evo-media-document\/BRIDGE.Digital.Assets.Act_.pdf\"><span style=\"font-weight: 400;\">proposed legislation<\/span><\/a><span style=\"font-weight: 400;\">\u00a0dubbed the \u201cBRIDGE Digital Assets Act,\u201d could set <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/xrp-price-prediction-crash-to-0-33-before-huge-surge-by-summer-2025\/\"><span style=\"font-weight: 400;\">XRP<\/span><\/a><span style=\"font-weight: 400;\"> up for massive price increases.<\/span><\/p>\n<h3><b>Details of the Bridge Digital Assets Act<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The bill seeks to establish the Joint Advisory Committee on Digital Assets and for other purposes. While not many details were given about the bill, the title provides some insight into its scope.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The acronym \u201cBRIDGE\u201d stands for Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets. This implies that the proposal seeks to provide a consistent legal framework that strikes a balance between protection and innovation in the digital asset ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The formation of a Joint Advisory Committee on Digital Assets suggests a cooperative strategy with participation from various stakeholders. They may include government agencies, financial institutions, and the tech community, bringing a broader perspective to the proposal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Commenting on the bill, crypto influencer Amelie <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/x.com\/_Crypto_Barbie\/status\/1834277118144065876?s=19\"><span style=\"font-weight: 400;\">stated<\/span><\/a><span style=\"font-weight: 400;\"> on X, \u201cXRP = World bridge currency.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Her comment suggests that the bill could have implications for XRP, a cryptocurrency often called a \u201cworld bridge currency.\u201d Over the years, XRP has become a major asset in making financial payments, particularly cross-border remittances.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Crypto News Flash <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/xrp-powers-up-cross-border-payments-ripples-solution-reduces-counterparties-and-speeds-up-transactions\/\"><span style=\"font-weight: 400;\">discussed<\/span><\/a><span style=\"font-weight: 400;\"> earlier, Ripple payments use XRP and the XRP Ledger to provide businesses with speed, access, and cost efficiency.<\/span><\/p>\n<h3><b>Discussions About Legal Implications of the Bridge Digital Assets\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In response to Amelie\u2019s post, many users agreed that XRP is the plan for the \u201cBRIDGE Digital Assets Act.\u201d However, Spencer Paul, a crypto enthusiast, offered a contrary opinion. \u201cYes, it\u2019s called \u2018bridging regulations.\u2019 Doesn\u2019t seem like it\u2019s to do with bridge digital assets such as XRP,\u201d Spencer <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/x.com\/xrpbridger\/status\/1834290608221159606?s=19\"><span style=\"font-weight: 400;\">stated<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Spencer offers a more pragmatic view by emphasizing \u201cbridging regulations.\u201d This implies that the bill may be more concerned with regulatory harmonization between jurisdictions than with endorsing any one crypto, such as XRP.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another user, Neo, raises concern about the potential for the US Securities and Exchange Commission (SEC) to exert greater control over digital assets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis bill would only empower the SEC by giving it legal authority to impose whatever regulations they wish,\u201d Neo noted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Neo&#8217;s remark echoes the ongoing conflict between crypto advocates and regulators, particularly as the SEC continues to pursue enforcement actions against several crypto platforms and projects.<\/span><\/p>\n<h3><b>Implications for XRP<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">For XRP, regulatory clarity could pave the way for greater institutional adoption and use in financial ecosystems, setting it up for future price gains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As <\/span><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/analyst-predicts-xrp-could-surge-38000-historical-patterns-suggest-massive-rally\/\"><span style=\"font-weight: 400;\">mentioned<\/span><\/a><span style=\"font-weight: 400;\"> in our earlier post, XRP has been trading sideways in the past few weeks amid a broader market downturn. However, crypto analyst Crypto Bull on X believes XRP is headed for a mega rally. According to the analyst, if it follows historical patterns, XRP could rise as high as <span style=\"color: #339966;\">$227<\/span>, a <span style=\"color: #339966;\">38,500%<\/span> rise from its current price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, XRP was trading at <span style=\"color: #ff0000;\">$0.572<\/span>, down by <span style=\"color: #ff0000;\">2.68%<\/span> in the past 24 hours, with a market cap of $32.2 billion.<\/span><\/p>\n<p><span data-sheets-root=\"1\"><\/p>\n<div class=\"cryptoboxes\" id=\"mcw-345586\" data-realtime=\"on\">\n<div class=\"mcw-chart mcw-chart-light\" data-font = \"inherit\" data-coin = \"xrp\" data-symbol = \"XRP\" data-currency = \"USD\" data-rate = \"1.000268\" data-type = \"chart\" data-view = \"day\" data-theme = \"light\" data-smooth = \"true\" data-areacolor = \"\" data-bgcolor = \"\"><\/div>\n<\/div>\n<p><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p> <img loading=\"lazy\" width=\"1792\" height=\"1024\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce.webp\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Ripple and Russia\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" srcset=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce.webp 1792w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-300x171.webp 300w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-1200x686.webp 1200w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-768x439.webp 768w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-1536x878.webp 1536w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-150x86.webp 150w, https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-21-07.52.39-A-modern-dynamic-digital-illustration-representing-the-enhancement-of-the-XRP-Ledger-XRPL-by-Ripple.-The-scene-includes-a-sleek-futuristic-data-ce-450x257.webp 450w\" sizes=\"auto, (max-width: 1792px) 100vw, 1792px\" \/>American Congressman John Rose just proposed a major BRIDGE Bill to Congress. This Bill might favor XRP despite the community&#8217;s disagreement on whether it is a direct endorsement for individual crypto projects. U.S. Republican Congressman John Rose of Tennessee introduced a new bill for the crypto space on September 10, 2024. The proposed legislation\u00a0dubbed the [&#8230;]  <\/p>\n","protected":false},"author":5,"featured_media":67161,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48,43,1],"tags":[],"class_list":["post-67160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto-news","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XRP Poised for Growth as Congressman Introduces Bridge Digital Assets Act - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/xrp-poised-for-growth-as-congressman-introduces-bridge-digital-assets-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Poised for Growth as Congressman Introduces Bridge Digital Assets Act - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"American Congressman John Rose just proposed a major BRIDGE Bill to Congress. This Bill might favor XRP despite the community&#8217;s disagreement on whether it is a direct endorsement for individual crypto projects. U.S. Republican Congressman John Rose of Tennessee introduced a new bill for the crypto space on September 10, 2024. 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This Bill might favor XRP despite the community&#8217;s disagreement on whether it is a direct endorsement for individual crypto projects. U.S. Republican Congressman John Rose of Tennessee introduced a new bill for the crypto space on September 10, 2024. 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