Crypto attorney John E. Deaton has debunked a recent report claiming that the U.S. Securities and Exchange Commission (SEC) had assigned specific roles to XRP, ADA, and SOL. Deaton took to social media to clarify that the SEC had not released any such information.
Deaton’s tweet read, “EVERYONE: The @SECGov did not release any such thing.”
What Was Alleged in the Disputed Report?
The controversial report, published on a crypto news platform prior to Deaton’s response, alleged that the SEC had designated XRP for state-level financial transactions, ADA for academic credentialing and government services, and SOL for high-speed blockchain applications. It also claimed that these were the three cryptocurrencies President Donald Trump mentioned would be included in a national crypto reserve.
According to the discredited report, the SEC supposedly outlined that XRP would be used for state-level financial transactions to enhance government payments and interbank liquidity. ADA was said to be designated for academic credentialing, smart contracts for government services, and secure infrastructure management. Additionally, SOL was reportedly chosen for high-speed blockchain applications such as real-time government databases, secure voting mechanisms, and digital identity management.
Market Response: Temporary Gains and Lingering Speculations
Despite no official confirmation from the US government or the SEC regarding the claims made in the original report, XRP, ADA, and SOL experienced positive price movements in the market. XRP saw a 10% surge, climbing from $2.238 to $2.475. ADA recorded an 8.7% gain, rising from $0.6960 to $0.7577. Meanwhile, SOL gained 10.33%, with its price rallying from $122.92 to $136.09.
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