Tag: Ripple

Ripple joins forces with BIS in cross-border payments initiative

The Bank for International Settlements (BIS) has introduced a cross-border payments interoperability and extension (PIE) task force, with Ripple, the blockchain-based digital payment network, being one of its notable participants. XRP, a cryptocurrency used by Ripple in its On-Demand Liquidity (ODL) solution, was recently classified as not a security. The BIS, an international financial institution owned by member central banks, released a summary of the PIE task force’s meeting on May 11, which outlines the task force’s commitment to enhancing cross-border payments and achieving the quantitative goals established by the G20 in…

Ripple joins BIS cross-border payments task force

The Bank for International Settlements (BIS) has recently announced a cross-border payments interoperability and extension (PIE) task force which includes the blockchain-based digital payment network, Ripple.  On Aug. 9, BIS announced the members of the PIE task force that will work to “enhance cross-border payments and meet the quantitative targets for cross-border payments endorsed by the G20.” The task force is a part of the BIS Committee on Payments and Market Infrastructure (CPMI). The BIS Committee on Payments and Market Infrastructures has announced the membership of its cross-border payments interoperability…

SEC to seek interlocutory appeal in Ripple case

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The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate court. “Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed,” the…

Federal judge suggests Q2 2024 trial for SEC case against Ripple execs

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The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024. In an Aug. 9 filing in the U.S. District Court for the Southern District of New York, Judge Analisa Torres said the court would be moving forward with plans for a jury trial for Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen. The judge gave a deadline of Aug. 23 for prosecutors and defense lawyers to submit blackout dates…

Pro-XRP Lawyer John Deaton Says He Is Willing To Bet That Ripple Will Win SEC Appeal

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Popular XRP advocate and notable attorney John Deaton recently predicted a comfortable appeal victory by Ripple against the United States Securities and Exchange Commission (SEC). The Managing Partner of ‘The Deaton Law Firm’ says he is willing to bet big on the exchange emerging victorious on appeal. Founded Belief Or Mere Speculation? John Deaton’s willingness to bet on an uncertain court judgment follows a recent thread penned by digital asset enthusiast and Australian-based lawyer Bill Morgan. According to the thread, Judge Analisa Torres did not err in her summary judgment…

Ripple Is Now A Member Of Trade Organization That Hosts The Likes Of BlackRock

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In a significant development, Ripple joined the International Swaps and Derivatives Association (ISDA), placing itself at the forefront of the derivatives market valued at a staggering $1.2 quadrillion.  This move aligns Ripple with prominent industry leaders such as J.P. Morgan, Goldman Sachs, and BNY Mellon, solidifying its position within traditional financial systems. This particular membership category caters to technological solution providers and exchanges integral to the derivatives ecosystem and Ripple now stands equal with big players and elite groups in the high cadre of the crypto community. This move is…

CDC report underscores importance of Judge’s verdict in Ripple case

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The Chamber of Digital Commerce (CDC), an American advocacy organization, on August 1, unveiled a comprehensive “impact and analysis” report on the SEC’s lawsuit against Ripple. The report scrutinizes the case’s verdict, highlighting its profound implications for the crypto industry’s future. According to the CDC’s evaluation, Judge Analisa Torres’s ruling sets a vital precedent in digital currency. It distinguishes between an investment contract and the underlying asset, representing a groundbreaking development in crypto regulation. The report examines Judge Torres’s categorization of Ripple’s XRP token distributions into three classes: institutional sales,…

Ripple clarifies six misconceptions about the SEC lawsuit

Ripple clarified six misconceptions about the recent ruling. After it, XRP and Bitcoin are the only digital assets that aren’t considered securities in the US. On July 13, Judge Torres ruled in the trial of Ripple v. SEC, stating that Ripple is not a security. The first point that the company addressed in its Q2 report is that the decision issued by Judge Torres wasn’t split. The company said that it’s clear that the main point of the court decision was to understand if Ripple was or was not a…

Ripple executive discusses taxes, Dogecoin, Pomerdoge gain on weekly charts

Ripple executives and XRP holders are discussing tax implications for using the coin in cross-currency payments. Meanwhile, Dogecoin (DOGE) and Pomerdoge (POMD) posted gains on the weekly charts. On the other hand, analysts continue to debate about high-value altcoins in 2023. Dogecoin gains on the weekly chart Dogecoin is up 6.6% in the last week of trading, rising 18.1% in the previous month.  As of July 31, 2023, DOGE traded at $0.079620 with a market cap of $11.17 billion and a 24-hour trading volume of $391.62 million, a 21.94% increase.…