The project will “analyze the advantages and risks that CBDCs or national stablecoins could pose concerning electronic means of payment availability, security, efficiency, compliance with regulations, and most importantly, the protection of end users’ rights and privacy,” CBCG Governor Radoje Zugic said in the statement. Source
The Central Bank of Montenegro announced on April 11 that it had signed an agreement with Ripple for the development of a strategy and pilot program for a Montenegrin digital currency in the form of a central bank digital currency, or a stablecoin. The country has used the euro as its currency since its introduction in 2002, despite not being part of the Eurozone. “More details will be revealed later in the year,” RippleX’s vice president for central bank engagements and CBDCs, James Wallis, told Cointelegraph in a written interview.…
A lawyer representing thousands of crypto enthusiasts in the case brought against Ripple by the Securities and Exchange Commission (SEC) suggested a verdict could be delivered by May 6, 2023. In an April 5 interview with Thinking Crypto, John Deaton, a cryptocurrency lawyer and XRP supporter, said that Judge Analisa Torres, who is presiding over the SEC’s case against Ripple in the Southern District of New York, usually issues her decisions within a couple of months of her Daubert/Experts’ decision, which was made on March 31. Although Judge Torres has…
According to the 2022 report, Bitso highlighted that they processed about $3.3 billion between US and Mexico, using XRP and others. XRP moves $3.3b in US-Mexico settlements Cryptocurrency has gained momentum recently, acquiring different utilities across different jurisdictions. The most recent info is about the Ripple network. Bitso, a popular crypto exchange in Mexico, recently announced powering transactions of about $3.3 billion worth of crypto between the U.S. and Mexico. Based on Bitso’s report, the Ripple network is one of its primary settlement partners for cross-border transactions. The U.S. corridor…
Ripple has spent over $100 million fighting the SEC. Financial advisors should pay attention to Ripple’s trial, as it could have significant consequences to how we define securities. Source
Ripple CEO Brad Garlinghouse has slammed Securities and Exchange Commission (SEC) Chairman Gary Gensler for claiming that he has the authority to determine which crypto tokens are securities, rather than relying on the legislation that governs his agency’s power. “It’s time for elected officials in the U.S. to take notice,” the Ripple executive stressed. Ripple’s CEO Slams SEC Chair Gensler Over What’s a Security The CEO of Ripple Labs, Brad Garlinghouse, has criticized the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, for dictating which crypto tokens…
The latest price moves in bitcoin (BTC) and crypto markets in context for March 31, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
A visual representation of the digital cryptocurrency, XRP. S3studio | Getty Images The XRP cryptocurrency soared on Wednesday as investors grew hopeful that Ripple, a company closely associated with the token, would win its prolonged legal battle with the U.S. Securities and Exchange Commission. The token was worth around 45 cents at about 8 a.m. ET, according to data from CoinGecko, up over 11% in the last 24 hours. It was earlier trading up as much as 20%. Traders pointed to a supplemental notice submitted by Ripple on Monday which…
“We’re seeing the XRP price jump by double digits and rally above its long-held resistance levels, as rumors filter through that Ripple and the SEC have possibly agreed to a settlement,” said Henry Liu, CEO of BTSE, in a Telegram message to CryptoX. Source CaseongoingoutlookPositiveRippleSECSurgesTokenXRP CryptoX Portal
Garlinghouse noted that financial systems are broken given their high susceptibility to rumors as evidenced by the current banking crisis. In a March 12 Twitter thread to his 700,000 followers, Ripple CEO Brad Garlinghouse addressed his company’s exposure to the collapsed Silicon Valley Bank (SVB), emphasizing the company’s financial stability. The exec noted that while Ripple had exposure to SVB as a banking partner, “we expect NO disruption to our day-to-day business, and already held a majority of our USD w/ a broader network of bank partners.” Setting the record…