Tag: Ripple

Ripple Added to Central Bank of Ireland’s Virtual Asset Service Providers (VASPs) Register

This registration will let Ripple offer its certain digital assets services to clients within Ireland. Ripple has officially revealed that the Central Bank of Ireland (CBI) added its Irish entity Ripple Markets Ireland Limited (Ripple Markets) to the list of registered VASPs (Virtual Asset Service Providers). Now, after gaining this registration in Ireland, Ripple be working on the expansion of its services within the European Economic Area. This will become possible in case of gaining all the necessary licenses under the MiCA regulation that is expected to come in force…

Coinbase, a16z, Ripple and Others Invest $78M in Pro-crypto PAC Ahead of US Elections 2024

With the mass adoption of digital assets in the United States, notable presidential candidates have shown support for the blockchain and crypto asset industries. The crypto market has faced immense regulatory scrutiny from the current US government led by President Joe Biden. The lack of a clear crypto regulatory framework has left significant room for the United States Securities and Exchange Commission (SEC) and other federal agencies to crack down on web3 companies with decades-old policies. However, the mass adoption of crypto assets and web3 protocols in the United States…

Ripple, Coinbase, a16z invest $78M in pro-crypto PAC ahead of US elections

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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,…

Palau advances CBDC with Ripple in Phase 2 of PSC program launch

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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…

Ripple Executive Give 3 Bold Predictions On Crypto Regulations In 2024

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As the crypto market gears up for 2024, the chief legal officer of blockchain payment company Ripple, Stu Alderoty, has released three projections on crypto regulations that could impact investors’ confidence ahead of a year expected to start the new bull cycle by many analysts.  Ripple And SEC To End Legal Tussle In 2024, Alderoty Says In an X post on Friday, December 15,  Ripple shared the predictions of Alderoty on policy and US regulations in 2024. The post included three bold forecasts by the company’s chief legal officer, which…

Ripple exec predicts crypto landscape shifts in 2024

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Ripple chief legal officer Stuart Alderoty has shared insights on the future of the cryptocurrency landscape in 2024. He discussed predictions about Ripple’s legal dispute with the United States Securities and Exchange Commission (SEC), the judiciary’s influence on crypto regulations and potential legislative challenges in the U.S. Congress. Alderoty predicts the possible resolution of Ripple’s lawsuit with the SEC in 2024, and he cautions against the SEC’s persistent “regulation by enforcement” strategy, highlighting its potential consequences for the crypto industry. Alderoty predicts a significant role for the judiciary in curbing…

Ripple Releases White Paper Reaffirming Its Belief in CBDCs

Ripple is currently working with over 20 central banks from around the world, helping them to develop digital versions of their national currency. Blockchain-based payment solutions provider Ripple has reaffirmed its support for central bank digital currencies (CBDC). In a 23-page white paper released on December 14, the firm explains the basics of CBDCs, their potential benefits, risks, and barriers to mainstream adoption. It also stresses the need for governments and private sector players to collaborate in addressing challenges. Citing a report by global management consulting firm McKinsey, Ripple presents…

Ripple issues white paper on CBDCs, reiterates belief in their potential

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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, and Ripple explains the basics of CBDCs, their attractiveness, risks and barriers to widespread adoption. The white paper claims CBDCs help expand financial inclusion, streamline cross-border payments, and reinforce monetary policy control. It also states: “CBDCs are needed to support the most significant positive impacts of asset tokenization, an increasingly targeted mechanism for transforming tangible assets into…

PayPal’s stablecoin ripple effect on markets

PayPal’s introduction of its native stablecoin, PayPal USD (PYUSD), has sparked heated debates within the crypto industry regarding its possible sway on payments and wider crypto adoption. While this step seems to be a big jump toward accepting cryptocurrencies in regular finance, some industry observers advise caution. They underline the hurdles and limitations that could slow down broader adoption. What is PYUSD? This initiative aims to bridge the fiat and digital currency realms for consumers, merchants and developers. PayPal CEO Dan Schulman highlighted the need for a stable digital-fiat conduit.…

Ripple and XRP Were Given Hope by this Judge

“If the ruling is adopted by the court of appeals, it potentially provides a pathway for projects to raise funds,” Gulovsen said. Judge Torres’ ruling may also prove to be an outlier. Another judge in the same court, Judge Jed Rakoff, explicitly rejected Judge Torres’ analysis in a summary judgment ruling of his own in the SEC’s case against Terraform Labs – though, of course, the circumstances of that ruling are unique to that case, as the circumstances of the Ripple ruling are unique to this case. Source