NewsletterRipple CEO Drops Positive Updates Amid Pending Summary Judgment
XRP Lawsuit News: Brad Garlinghouse, CEO of Ripple on Friday shared some positive updates for the crypto industry amid increased scrutiny by U.S. Securities and Exchange Commission (SEC). However, both parties (Ripple and U.S. SEC) are waiting for a Summary Judgement by the court in the XRP lawsuit.
Ripple CEO lists positive updates
Ripple CEO highlighted the current conditions of regulation framed against the crypto industry in the U.S. However, he listed some of the positive global regulatory clarity developing amid collapsing crypto market.
Garlinghouse mentioned Dubai’s approach of being tech forward. He stated that Dubai just published a large scale set of tech-agnostic rules for crypto market traders. This covers compliance standards, advertising, issuance, and more. Read More XRP Lawsuit News Here…
On the other hand, the Australian Treasury is looking to improve licensing and custody for digital assets. This will aim to support consumer protection. Australia published a token mapping consultation. However, the Australian government is looking for public input before updating existing rules.
He added that the UK HM Treasury issued new consultation reflects the intent of the nation to build proportionate rules for the crypto industry. While its framework will allow the firms to innovate with maintaining financial stability. These initiatives have created an opportunity for the UK to become a global crypto Hub.
S.Korea taking a strict approach
However, South Korean financial institutions have decided to take a stricter approach since the horrible collapse of Terra Luna Labs. The Financial Services Commission rolled out guidelines for better clarity around the classification of a security token vs a payment token.
Ripple CEO stated that this list goes on, however, it is important to note the commonalities among all the decisions. The mentioned regulators are providing leadership over these crucial matters. While the U.S. authorities are missing this approach.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP Gets Major Boost as Four Spot ETFs Prepare for Launch This Week
- Breaking: Solana ETFs by Fidelity and Canary Marinade to Launch on Tuesday
- Just-in: White House Reviews IRS Proposal To Tax US Citizen’s Outbound Crypto Holdings
- Grayscale’s Dogecoin ETF Could Launch on November 24, Says Bloomberg Analyst
- Gold Tops Bitcoin as BTC Extends Decline, Losing Its YTD Gains
- Will MOODENG Reach $0.1 and MEW Hit $0.002 After Robinhood Listing?
- What’s Next for Cardano Price After Breaking Below Key Support Level?
- Pi Coin Price Could Jump 30%, But There’s a Catch
- Expert Sees XRP Price Rally if it Holds Key Support Ahead of Ripple ETF Launch
- Chainlink Price Eyes Breakout as Whales Scoop 150K $LINK
- Top Analysts Predict How Low Bitcoin Price Might Fall?
