Fact Check: Did China Approve XRP National Reserve Worth $40B?
Main Idea
The article debunks a rumor claiming that Chinese President Xi Jinping announced China's intent to legalize XRP and acquire $40 billion worth of it, stating there is no official confirmation or evidence to support this claim.
Key Points
1. The rumor originated from posts by crypto enthusiasts on social media, but no direct reports or official statements from Chinese authorities support the claim.
2. No official confirmation from President Xi Jinping, the People’s Bank of China (PBoC), or state news outlets exists regarding the legalization of XRP or a $40 billion investment.
3. China maintains a restrictive stance on decentralized cryptocurrencies like XRP, focusing instead on its state-controlled digital yuan (CBDC).
4. A Chinese company, Webus International, filed papers with the SEC to set up a $300 million XRP fund, but this is a corporate initiative unrelated to national plans.
5. The claim about China creating a national crypto reserve with XRP is based on viral misinformation, not factual evidence.
Description
The post Fact Check: Did China Approve XRP National Reserve Worth $40B? appeared first on Coinpedia Fintech News Recently, claims have gone viral on social media platforms, particularly among the XRP community, claiming that Chinese President Xi Jinping announced China’s intent to legalize XRP and acquire $40 billion worth of it for a national crypto reserve. But is there any factual basis for this sweeping assertion? Who Made this Claim? The rumor originated from posts by crypto enthusiasts lik...
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