BitPay adds support for XRP
That the cryptocurrency payment platform BitPay has launched a new initiative to support XRP worldwide. From now on, BitPay users can seamlessly purchase XRP, securely store XRP through self-custody in the BitPay wallet, participate in gift card transactions, execute XRP exchanges, and transact with BitPay merchants.
Judge Approves Investment Banker Andrew A. Kunsak as Declarant in SEC v. Ripple Case
On August 16th, it was reported that Andrew A. Kunsak from the law firm Sidley Austin LLP has been granted permission to appear as an investment banker in the SEC's case against Ripple Labs, which will be presided over by Judge Analisa Torres. The banker stated that he hopes to protect stakeholders from the SEC's appeal of the summary judgment ruling.
InstaRem to Leverage Ripple Payments to Speed up Transaction Processing
Instarem, a payment solutions provider based in Singapore, announced that it will use Ripple Payments for fund operations and assist its small and medium-sized enterprise clients. By integrating Ripple's blockchain products, Instarem aims to shorten transaction processing time by at least 50%.
Ripple in Talks With RBNZ Over CBDC Development on XRPL
According to Coinmarketcap, Ripple is reportedly in talks with the Reserve Bank of New Zealand to develop a central bank digital currency (CBDC) on the XRP Ledger (XRPL). The discussions aim to explore the potential of using XRPL to develop CBDCs.
Gemini Suspects Price Glitch, XRP Hit $50
Several members of the cryptocurrency community on X (Twitter) have posted screenshots of a price malfunction for XRP on Gemini. The screenshots show that the displayed price of XRP on Gemini has repeatedly risen to over $1, and even spiked to $50 at one point. However, according to data from CoinGecko, the current market price for XRP is $0.63.
Meanwhile, as of 1:25 AM UTC on August 11th, Gemini announced that it has conducted a comprehensive maintenance of its platform.
Gemini Relists XRP Token for Trading in Multiple Currencies
Gemini has relisted XRP token after a three-year hiatus. Trading is now active for several pairs including USD, GBP, and EUR currencies, with support for the XRP Ledger blockchain. <br>
Gemini Adds Support for XRP Deposits, Trading to Follow Soon
Gemini has announced that it will support XRP by allowing customers to deposit the asset on its platform. Trading support for XRP will follow, starting with dollars and later with other currencies. <br>
Gemini already supports XRP deposit function and will launch XRP trading service
According to official sources, the cryptocurrency exchange Gemini has added support for XRP deposits and will launch XRP trading services. Gemini reminds users to upgrade their mobile app to version 23.808.0 in order to make XRP deposits.
Ripple Joins BIS Cross-Border Payments Working Group
he Bank for International Settlements (BIS) has recently announced the establishment of the Cross-Border Payment Interoperability and Expansion (PIE) Working Group, which includes Ripple, a blockchain-based digital payment network. BIS has announced the members of the PIE special working group, which will be dedicated to "strengthening cross-border payments and achieving G20-recognized quantitative targets for cross-border payments." The working group is part of the BIS Committee on Payments and Market Infrastructures (CPMI). Ripple will work with other working group members such as Mastercard and SWIFT to achieve the BIS's goal of increasing cross-border payment interoperability. (Cointelegraph)
Ripple: Working With Hong Kong Companies and Financial Regulators to Pilot Projects Such As RWA
August 10th, Kirit Bhatia, the head of international business development at Ripple, stated that Ripple is collaborating with the Hong Kong Monetary Authority (HKMA) to pilot a central bank digital currency (CBDC) program. The program aims to tokenize real-world assets (RWA) using the Ripple CBDC platform supported by XRP Ledger (XRPL) technology.
Ripple Has Become a Full Member of BIS “Cross-Border Settlement of Payments and Expanding Interoperability”
Ripple has now become an official member of the Bank for International Settlements (BIS) "Payment, clearing and settlement in cross-border transactions and expanding interoperability". The joining took place on August 9th and is part of a wider initiative by the "Committee on Payments and Market Infrastructures" of the BIS.
XRP Lawyer: Excited About XRP Removal from Coingecko's Latest SEC Securities List
Lawyer John Deaton, who supports XRP, stated on Twitter that he was excited about XRP being removed from Coingecko's latest SEC securities list. He also stated that XRP is no longer on the SEC list today. Deaton compared this development to a situation three years ago when the SEC claimed that Ripple sold over 14.6 billion units of digital assets that were considered "securities".
XRPL to Introduce Five New Amendments Tailored for NFT Functionality
XRPcafe, an NFT marketplace integrated with Ripple's XRP Ledger, has announced five new amendments to enhance the functionality of NFTs. The amendments will be implemented on August 21, 2023, and have been approved by 80% of the Unique Node List voters. <br>
Ripple vs SEC Jury Trial Set for Spring 2024
Court documents released on Wednesday show that the Ripple vs SEC lawsuit is expected to be heard in the second quarter of 2024 in the Southern District of New York. Both parties have two weeks to submit their proposed deadlines to the court. The judge also added that Ripple and the SEC must file all pre-trial motions, documentary evidence, and motions to exclude jury evidence by December 4, 2023. <br>
Ripple Joins Bank for International Settlements' Cross-Border Payments Taskforce
BIS has announced that Ripple is now an official member of its cross-border payments interoperability and extension taskforce, which is part of the BIS Committee on Payments and Market Infrastructures. <br>
Prosecutors in Terra-Luna crash trial use Ripple and XRP legal battle to support their case
Prosecutors in the Terra-Luna crash trial are using the Ripple and XRP legal battle as evidence to support their case. They have obtained a translated Ripple-related judgment from a US court which confirms that XRP was deemed a security when sold to institutional investors. This challenges the assertion that Luna Coin cannot be considered a security under Korean law. Prosecutors also intend to submit a ruling from a federal court in New York which categorizes virtual currencies as securities, regardless of their method of sale. The distinction between Ripple/XRP and Luna Coin lies in their profit-sharing mechanisms, with Luna Coin's commitment to share profits potentially classifying it as a security.
Flare Network CEO predicts slow recovery for Ripple after legal woes
Hugo Philion, CEO of Flare Network, has stated that Ripple's recovery will be slow due to its ongoing legal issues. Ripple has been hindered by regulatory uncertainty since late 2020, causing it to fall behind by approximately 2.5 years. Stablecoin providers have made significant progress in the market traditionally led by Ripple, but Philion believes Ripple could still succeed in areas poorly served by traditional finance. However, progress may be slow due to skepticism within traditional finance regarding cryptocurrencies, and developing new use cases for XRP will take time to yield results.
Coinbase cites Ripple case in bid to dismiss SEC lawsuit
Coinbase has used the recent Ripple Labs case to argue against the Securities and Exchange Commission's (SEC) case against them. The crypto exchange claims that the SEC's attempt to classify a simple asset sale as a security is an unprecedented stretch, and that the judge's recent decision with Ripple supports their argument. Coinbase also cited the major questions doctrine, which requires clear congressional authorization for an agency to decide on an issue of major national significance, as applying to their case against the SEC. The SEC and Ripple have been in a legal fight since 2020, when the agency accused Ripple of raising $1.3 billion through the sale of XRP, which it says is an unregistered security.
Charles Hoskinson Denies Involvement in XRP Conspiracy Following Alleged SEC Emails
Charles Hoskinson, the creator of Cardano and former co-founder of Ethereum, has denied any involvement in the alleged conspiracy against XRP. The denial came after a follower presented him with emails reportedly sent by a prominent SEC functionary discussing Ethereum's classification as a security. Hoskinson clarified that the emails were from 2018 and beyond, long after he had left Ethereum in 2014 due to a difference in vision with co-founder Vitalik Buterin. Hoskinson emphasized that he had no involvement in the controversy surrounding the emails.
Judge Rakoff Rules Terraform Tokens as Securities, Disregards Legal Precedent
Terraform Labs' collapse caused regulators in South Korea and the USA to investigate. The legal team in the US attempted to use Ripple's recent success against the SEC to their advantage, but Judge Jed Rakoff ruled that tokens minted on the Terraform Blockchain qualify as securities under the Howey test. Judge Rakoff also disregarded legal precedent and denied Terraform Labs' attempt to dismiss the court case filed by the SEC against them. This decision may have consequences for Ripple Labs' court case, potentially prolonging their legal battle.
