Ripple’s chief legal officer says the U.S. Securities and Exchange Commission (SEC) made moves in an effort to declare the digital asset XRP a security. Stuart Alderoty says on the social media platform X that before commencing the lawsuit against Ripple, the regulator approached the company with a settlement that would have changed the trajectory […]
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Ripple President Monica Long thinks 2024 will be a “breakout moment” for the crypto space, particularly the decentralized finance (DeFi) sector. Long says crypto is primed to break the “speculative hype cycles” that the industry has been chained to since the origin of Bitcoin (BTC). “We as an industry will break the cycle by paving […]
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Blockchain-based payments firm Ripple Labs can now provide certain digital asset services in Ireland. In a new statement, the San Francisco-based firm says the Central Bank of Ireland (CBI) has just granted its local subsidiary, Ripple Markets Ireland Limited, the license to operate as a Virtual Asset Service Provider (VASP). VASPs can carry out transactions […]
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Bitcoin may remain under pressure for a few days, but a collapse is unlikely as traders are expected to buy the dips in anticipation of a spot Bitcoin ETF.
The S&P 500 Index (SPX) rose 2.49% last week, extending its string of weekly gains to seven weeks, the longest such winning streak since 2017. However, Bitcoin (BTC) could not maintain its momentum and succumbed to profit-booking by the bulls. Trading resource Material Indicators said in a X (formerly Twitter) post that “ year-end profit taking and tax loss harvesting” will prevail in the short term.
However, a crash is unlikely because several analysts expect the United States Securities and Exchange Commission to approve one or more spot Bitcoin exchange-traded fund applications in January. If that happens, it could prove to be a game-changer for the sector.
VanEck CEO Jan van Eck said in an interview with CNBC that Bitcoin is likely to hit a new all-time high in the next 12 months. He expects Bitcoin to become an accompaniment to gold.
Prominent cryptocurrency companies and investors intend to support pro-cryptocurrency candidates during the 2024 U.S. election cycle.
Ripple CEO Brad Garlinghouse has publicly announced the company’s intent to support “pro-crypto’ candidates during the 2024 United States election season. The company is among a group to have pledged a total of $78 million to support the Fairshake political action committee (PAC).
Fairshake announced that prominent industry firms and players had contributed to a significant “war chest” to back candidates who support American crypto and blockchain innovation and responsible regulation in the upcoming 2024 elections.
The list includes individuals like Coinbase CEO Brian Armstrong, Tyler and Cameron Winklevoss, Circle, Coinbase, Kraken, Messari and Andreessen Horowitz (a16z).
Phase 2 of the PSC program will prioritize the development of a digital ecosystem and increased user engagement, emphasizing adherence to regulatory compliance.
The Ministry of Finance in Palau officially launched the second phase of the Palau Stablecoin (PSC) Program. Jay Hunter Anson, a cybersecurity consultant in Palau, confirmed the initiation of the country’s CBDC pilot program in a post.
Anson expressed that Palau aims to extend its partnership with Ripple in this next stage, allowing the PSC team to leverage Ripple’s CBDC platform and technical expertise.
PSC is a digital currency pegged to the U.S. dollar at 1:1. The USD-supporting PSC is stored in a commercial bank with FDIC insurance. The Palau government issues the PSC on the XRP Ledger (XRPL).
Stuart Alderoty predicts the possible resolution of Ripple’s SEC lawsuit in 2024 and lawmakers on Capitol Hill agreeing on the need for crypto regulations.
Ripple’s Chief Legal Officer, Stuart Alderoty, has shared insights on the future of the cryptocurrency landscape, specifically in 2024. He discussed predictions about Ripple’s legal dispute with the Securities and Exchange Commission (SEC), the judiciary’s influence on crypto regulations, and potential legislative challenges in Congress.
In his prediction, Alderoty foresees the possible resolution of Ripple’s SEC lawsuit in 2024. He cautions against the SEC’s persistent “regulation by enforcement” strategy, highlighting potential consequences for significant players in the crypto industry.
Alderoty predicts a significant role for the judiciary in curbing SEC overreach, suggesting that ongoing legal conflicts could escalate to a Supreme Court confrontation.
Bitcoin and select altcoins are witnessing profit-booking on rallies, increasing the likelihood of a short-term pullback.
Bitcoin’s (BTC) rally has been taking a breather for the past few days but its strong rally in 2023 has not gone unnoticed. A survey of United States financial services companies by crypto firm Paxos showed that 99% of the firms were putting as much or more focus on crypto projects this year as compared to previous years.
Analysts are increasingly bullish on Bitcoin and the crypto space in 2024. Bitwise senior research analyst Ryan Rasmussen made ten predictions for the crypto industry in 2024 in an X (formerly Twitter) post on Dec. 13. He believes Bitcoin will soar to $80,000 in 2024 and “more money will settle using stablecoins than using Visa.”
Along with crypto-specific issues, expectations of rate cuts by the Federal Reserve in 2024 are adding to the bullish sentiment. Arthur Hayes, the former CEO of crypto exchange BitMEX, reiterated his bullish view on crypto in an X post on Dec. 14. He said that the fiat was “a filthy piece of trash” and there was no reason not to be long crypto.
The white paper states that CBDCs help expand financial inclusion, streamlining cross-border payments and reinforcing monetary policy control.
Ripple has doubled down on its public support for central bank digital currencies (CBDCs) in a new white paper. The 23-page document was released by the blockchain-based digital payments company on Dec. 14.
In the document, Ripple explains the basics of CBDCs, their attractiveness, risks and barriers to widespread adoption. The white paper claims CBDCs help expand financial inclusion, streamlining cross-border payments and reinforcing monetary policy control. It also states:
Among the barriers to adoption, Ripple highlights the absence of a uniform, global regulatory framework for CBDCs. Other factors include a lack of end-user adoption, “little-to-no” consumer education, fears about privacy and security protections, digital identity verification, lack of interoperability among CBDCs and offline access to transactions. However, the authors of the white paper believe these issues “aren’t unsolvable.”
Former Goldman Sachs executive Raoul Pal says he’s betting on XRP. In a new interview with attorney John Deaton, the Real Vision chief executive says he bought the asset after the U.S. Securities and Exchange Commission (SEC) sued Ripple and claimed XRP was an unregistered security. “When you see something like that, it’s like, ‘Okay, […]
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