Ripple News: John Deaton Shuts Down False Claims About XRP in State-Level Payments

Recently, rumors spread that the U.S. SEC had clarified how different cryptocurrencies might be used within the U.S. government. It was said that XRP could be used for state-level financial transactions and optimizing government payments, ADA for academic credentialing, smart contracts for government services, and secure infrastructure, and SOL for high-speed blockchain applications like secure voting and digital identity management.

However, these rumors were quickly shot down by the founder of CryptoLaw and pro-XRP lawyer, who clarified on social media that the SEC had not released any such information.

The rumors came just after U.S. President Donald Trump Donald Trump   Donald J. Trump is a US-based entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician   Once doubtful about Bitcoindominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Criticized Bitcoin and Libra on X, dubbing them as "not money"   2024 – Campaign signals potential openness to crypto-friendly reforms   2025 –  Elected as the 47th President of the United States from the Republican Party.   A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.     President signed an executive order to create a strategic reserve of cryptocurrencies using tokens already owned by the government. The order sparked interest in the market, as Trump named Bitcoin, Ether, XRP, Solana, and Cardano as the digital assets expected to be included in the reserve. However, the market was left disappointed after the announcement, as many were hoping for a concrete plan to buy new tokens.

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Trump’s Crypto Summit and Strategic Bitcoin Reserve

On March 7, President Donald Trump hosted a meeting with crypto executives at the White House for the first-ever Crypto Summit. During the summit, Trump and other cabinet officials met with key figures from the crypto industry to show continued support for the sector and gather ideas for future regulation and legislation. This event followed Trump’s recent Executive Order, which announced the creation of a federal Bitcoin reserve.

Trump said,

“America will follow the rule that every bitcoiner knows very well, ‘never sell your bitcoin. I don’t know if that is right or not. Who the hell knows? Who knows, but so far it’s been right. Let’s keep it that way.”