Stellar Foundation CEO tells us congressmen about XRP and XLM difference

Price of Stellar (XLM) rose close to 100% in a week

Denelle Dixon, CEO of the Stellar Development Foundation, attended a meeting of US Congressmen and explained to members the difference between XLM and XRP.

“Will there be a lawsuit for XLM, which is seen as XRP’s” sister cryptocurrency“?”at a time when the question was on the agenda, Denelle Dixon, CEO of the Stellar Development Foundation, attended a meeting of US Congressmen and told members the difference between XLM and XRP. Members ‘ words of praise about the stellar foundation drew attention.

The topic of the meeting was what benefits blockchain technology can bring to human communities and emerging economies without a bank account, and what stellar’s role here, in particular, in the global wire transfer/money transfer system.

Despite this, the highly anticipated topic at the meeting was whether regulations and digital assets should be considered securities by U.S. law.

CEO Dixon kept his organization separate from companies such as Ripple, which is suing the SEC over its use of the XRP token, in response to a question about the challenges facing the blockchain industry in the United States.:

“I think clarifying the classification of securities will help new players come to the market and make the market much more transparent. As you know, we didn’t launch an ICO. We didn’t do that. That’s not how stellar was born. Our profit purpose is very different. There is a lot of fear about the classification of securities. In order for us to keep this new technology and innovation in the United States, there needs to be stability on this issue. “

Congressman’s tribute to Stellar
Ohio State Representative, Congressman Warren Davidson as both Republican and Democratic members together to provide both clarity of relevant legal technology innovation to carry out a study of crypto currency and would go a lot further by specifying blokzincir said. Davidson also praised stellar:

“You definitely have a different organizational structure, and I think you’ve bypassed all these problems. What you’re doing with payments and speed is exciting. It’s a good situation for you to show that the architectural structure you described is much more effective than the current system.”

They burned 55 billion XLM
As will be remembered, Stellar burned 55 billion XLM in 2019, which is not in circulation but under its own supervision, reducing the total supply by half. Despite all the good words and comments, Dixon said there was a wave of fear in the industry about the possible actions the SEC might take against other organizations or blockchain companies in the future.

The meeting was organized by members of the FinTech task force of the House Financial Services Committee, chaired by California State Congressional Representative Maxine Waters. Waters also praised blockchain technology and touched on the importance of improvements in payment infrastructure in his home state.

2 weeks ago, the Stellar Development Foundation partnered with Settle Network to move its investment in payments to Latin America. The collaboration aims to help communities experiencing difficulties in accessing financial services.

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