News linked to both this project and an event.
XRP Ledger developers are testing a new feature that would allow the creation of blockchain accounts with a zero initial balance, with existing accounts covering the reserve requirement for new accounts, in order to lower the funding barrier for payment applications and automated software to create wallets at scale.The proposal was submitted on October 15 as the SponsoredAccountCreate transaction proposal. Under current XRP Ledger rules, each account must hold at least 1 XRP as a reserve, meaning that creating 100,000 separate accounts would require locking up 100,000 XRP. The new proposal would have a sponsoring account cover this reserve requirement, and a broader fee-sponsorship mechanism in the future could also allow applications to pay transaction fees on behalf of users, though the network's overall reserve requirement would not be eliminated as a result.The feature is expected to lower the barrier to use for scenarios such as embedded wallets, RLUSD stablecoin payments, and automated payments by AI agents. However, the relevant code is still under review, and the sponsorship mechanism it relies on has not yet launched on mainnet. As of October 19, the mechanism had received only 11 of the 35 required validator votes, still short of the 29 votes needed for approval. (CoinDesk)
According to the Federal Reserve's official website, Federal Reserve Chair Kevin Warsh announced on July 9 the establishment of five monetary policy task forces, led jointly by external economists, business leaders, and former central bank officials, operating independently and providing research results to the Federal Open Market Committee (FOMC). The research directions of the five task forces are as follows: • Communication Mechanism: Led by former Governor of the Bank of England Mervyn King and others • Balance Sheet Policy: Led by Harvard University Professor Karen Dynan, University of Chicago Professor Raghuram Rajan, and others • Quality of Economic Data: Led by Harvard University Professor Raj Chetty, former Walmart CEO Doug McMillon, and others • Productivity and Employment: Led by a16z Co-founder Marc Andreessen, Microsoft Xbox CEO Asha Sharma, and others • Inflation Framework: Led by Harvard University Professor and former Chairman of the Council of Economic Advisers Greg Mankiw, Nobel Laureate in Economics Thomas Sargent, and others Warsh stated that the Federal Reserve's commitment to price stability and maximum employment is unwavering, and these task forces aim to evaluate and optimize policy tools and analytical methods to address the current important economic situation.
: In a speech during the "Regulatory PETshop" event series, U.S. SEC Commissioner Hester Peirce stated that privacy-enhancing technologies (PETs) are crucial for the digital finance era, and regulators should not shape the trajectory of technological development based on expanding surveillance infrastructure.Hester Peirce pointed out that protecting financial privacy and security are not opposing forces. Cryptographic technology can help ordinary users guard against data breaches, theft, and malicious behavior. She criticized the current U.S. regulatory discussion for overemphasizing surveillance needs while neglecting the legitimate public demand for privacy-protective products. She also noted that existing regulations require securities transfer agents to record the names and addresses of holders, but the mechanism of public blockchain addresses can verify asset ownership without revealing personally identifiable information, thereby reducing the risk of sensitive data exposure for investors.Furthermore, Hester Peirce called on developers to collaborate with the SEC's Crypto Task Force to explore new technical solutions that reconcile KYC, anti-money laundering, and privacy protection requirements.