Rosie Rios, who joined the board of directors of Ripple in May this year, recalled that the company’s token is used in the cross-border payment system.
Former US Treasurer Rosie Rios wrote on Twitter, that the XRP is used in the system of cross-border payments, while other Crypto Assets created for speculation.
According to Rios, this is an important advantage of the Ripple token over other digital assets. The ban on cryptocurrency transactions in China should confirm this, the ex-treasurer said.
XRP’s primary purpose is facilitating cross border payments while other #Cryptos find their value in speculation. China’s latest move brings this point home. #Ripple #ripplenet #Bitcoin
— Rosie Rios (@RosieRios) September 26, 2021
Last week, the People’s Bank of China announced that cryptocurrency transactions are now completely banned in the country. The use of Crypto Assets in the PRC is now equated to illegal financial activity.
Rosie Rios served as US Treasurer from 2009 to 2016. As the 43rd US Treasurer, she oversaw the production of currency and coins, managing 4,000 employees and managing an annual budget of $ 5 billion.
Rosie Rios also pioneered the first ever US banknote portrait of a woman and received the Hamilton Award, the highest honor of the US Treasury Department. In May 2021, it became known that Rios joined the board of directors of Ripple.
A litigation is currently underway between Ripple and the US Securities and Exchange Commission (SEC). The financial regulator accused Ripple of illegally selling securities under the guise of XRP tokens in the amount of $ 1.3 billion.
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