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XRP Lawyer Warns Trumps Bitcoin Focus May Stall Innovation

XRP Lawyer Warns Trumps Bitcoin Focus May Stall Innovation
© Copyright Image: TronWeekly

  • XRP lawyer Bill Morgan expressed concern over the Trump administrations heavy focus on Bitcoin.
  • The Ripple community believes favoring Bitcoin could hinder broader blockchain innovation in the United States.
  • Experts argue that promoting only Bitcoin may limit growth in decentralized finance and smart contract technology.

Growing tensions between Bitcoin supporters and the Ripple community have intensified following recent developments in U.S. crypto policy. President Donald Trumps renewed pledge to make the United States a global crypto hub is stirring debate. However, concerns are rising about the administrations focus on Bitcoin (BTC) while other cryptocurrencies face neglect.

Observers note that Trumps administration appears to prioritize Bitcoin despite its broader crypto leadership ambitions. The XRP community and legal experts have produced negative reactions to these developments due to their worries about biased crypto policies. The rivalry between Bitcoin maximalists and altcoin advocates, particularly XRP supporters, has entered a new phase of scrutiny and debate.

XRP lawyer Bill Morgan expressed concern that the administrations Bitcoin focus could hinder overall crypto innovation in the U.S. The restriction of such a limited strategy could reduce funding for next-generation blockchain developments according to his opinion. This skepticism comes as government officials continue to emphasize Bitcoin over other assets.

XRP Lawyer Warns Against Bitcoin Bias

XRP legal expert Bill Morgan has voiced concern about the administrations heavy focus on Bitcoin while shaping crypto policies. His view stated that focusing on a single asset could damage the broader objective of leading through cryptocurrencies across the industry. From this perspective multiple organizations dispute whether the governments crypto policies maintain proper fairness together with equilibrium.

Morgan recently posed a question to AI platform GROK about the potential consequences of a Bitcoin-centric crypto policy. The platform indicated that the failure to consider different alternative blockchain developments presents dangerous risks. While support for Bitcoin strengthens one pillar, ignoring altcoins could harm overall crypto development.

Morgan insisted that actual innovation comes from the whole blockchain ecosystem which extends beyond XRP to encompass DeFi and smart contracts. He emphasized that these sectors need unbiased government backing from all aspects. Without that, the U.S. may fall behind in blockchain advancement despite leading in Bitcoin adoption.

Bitcoin Maxi Push for Reserve Plan Amid Rising Criticism

Bitcoin proponents have welcomed Trumps plan for a U.S. crypto reserve centered on Bitcoin, calling it a potential game-changer. Bitcoin maximalist Samson Mow supported the idea, emphasizing the coins role in strengthening national digital assets. Some industry experts suggest ignoring altcoins during this time would negatively affect market equilibrium and new exploration potential.

Bitcoin critic Peter Schiff challenged the proposal to include XRP, along with XRP, among other altcoins in the planned reserve. Schiff dismissed their value, suggesting they lacked the stability of Bitcoin. Charles Hoskinson, together with numerous other members of the crypto space, advocated for an expanded crypto reserve strategy beyond Bitcoin.

Read more: https://www.tronweekly.com/xrp-lawyer-warns-trump-bitcoin-focus-may-stall/

Text source: TronWeekly

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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