Tag: Ripple

Ripple Gets In-Principle Regulatory Approval to Operate in Singapore

The license will allow Ripple to provide better support to its “forward-looking customers”, as well as facilitate the process of building a “more inclusive and borderless financial system”.  Blockchain solutions provider Ripple has been granted in-principle approval of the Major Payments Institution License from the Monetary Authority of Singapore (MAS). As a result, its subsidiary in Singapore – Ripple Markets APAC Pte Ltd – is one of a few companies that can operate in the country and offer regulated digital payment token products and services to citizens. Ripple CEO Brad Garlinghouse commented: “Singapore…

Ripple gets in-principle nod for digital asset services in Singapore

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Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state. Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary — Ripple Markets Asia Pacific — to further scale its On-Demand Liquidity (ODL). The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries. We’re honored to obtain In-Principle Approval of a Major Payments Institution License from the…

Ripple Crypto Obtains In-Principle Approval for Major Payments Institution License in Singapore

“We’re pleased that Singapore has taken a forward-looking approach to how to regulate digital assets,” Stu Alderoty, Chief Legal Officer of Ripple, said in an interview with CoinDesk. “With their licensing framework, they have figured out how to create a clear taxonomy for digital assets, balancing the need to protect consumers’ interests and the need to protect the integrity of the markets, while doing so in a way that promotes innovation and investment.” Source

Hinmann documents unsealed in Ripple vs. SEC case, Binance faces more regulatory headwinds

During the past week, Coinbase and Binance encountered challenges due to increased regulatory scrutiny, coinciding with bearish market conditions following the US Securities and Exchange Commission’s (SEC) charges. Binance faced additional regulatory obstacles on a global scale, while its US-based counterpart, Binance.US, successfully settled with the SEC, preventing a complete freeze of its assets. The SEC also remained in the spotlight as a bill to remove chairperson Gary Gensler advanced through Congress. Significant developments also occurred in the SEC vs. Ripple case, as previously undisclosed internal emails about the Bill…

Ripple case is concluding, but the fight for clarity must ‘continue’ – Brad Garlinghouse

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Ripple CEO Brad Garlinghouse has warned that even though Ripple’s legal battle against the United States financial watchdog is coming “to a close,” it is only the beginning of a larger battle for the industry, and the fight for regulatory clarity “has to continue.’ Following the Hinman Documents being unsealed on June 13 as part of the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), Garlinghouse published a video on Twitter to discuss the lawsuit’s timeline, which commenced in December 2020, and express his frustration with…

Ripple boss sheds light on SEC and Hinman’s internal documents

On June 16, the Ripple CEO, Brad Garlinghouse, recently released a video on Twitter. Therein, he said, upon perusing Dr. Hinman’s emails, which were made public by the United States Securities and Exchange Commission (SEC) due to legal pressure, he felt compelled to document the information. Dr. Hinman, the SEC, and the regulatory measures concerning cryptocurrencies that the agency seems hesitant or incapable of implementing in the United States were all focal points of Garlinghouse’s revelations. Despite Garlinghouse’s infrequent video postings, he found it necessary to address the cryptocurrency community following a…

Ripple CTO says large XRP holdings does not make it centralized

Recently, a tweet from David Schwartz, the chief technology officer (CTO) at Ripple, sparked a debate about the decentralization of XRP and Ripple’s influence over it. Schwartz’s tweet was a response to a user’s comment about Ripple’s large holdings of XRP. The user suggested that Ripple’s significant ownership could potentially allow it to manipulate the price of XRP, thereby making the system less decentralized. Schwartz countered this argument by stating that Ripple’s ownership of XRP does not give it control over the ledger or its governance. He further challenged critics…

Hinman documents in Ripple case raise questions about SEC’s motives

The newly released Hinman documents relevant to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission have shed light on internal divisions within the SEC and raised questions about its motives. The Hinman documents pertain to internal SEC communications regarding a speech delivered by former director William Hinman in 2018. During the speech, Hinman said that Ether (ETH), one of the largest cryptocurrencies, should not be categorized as a security.  In an interview with Cointelegraph, crypto lawyer and founder of Hodl Law, Fred Rispoli, shared…

Hinman documents in Ripple case raise questions about SEC’s motives

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The newly released Hinman documents relevant to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) have shed light on internal divisions within the SEC and raised questions about its motives. The Hinman documents pertain to internal SEC communications regarding a speech delivered by former director William Hinman in 2018. During the speech, Hinman said that Ether (ETH), one of the largest cryptocurrencies, should not be categorized as a security.  In an interview with Cointelegraph, crypto lawyer and founder of Hodl Law Fred Rispoli…