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XRP Ledger-Based Crypto-to-Fiat Solution Halts Reward Programs Citing SEC Crackdown

XRPayNet chooses to err on the side of caution in the face of recent SEC enforcement action.

XRPayNet, a crypto-to-fiat payment solution built on the XRP Ledger, has disclosed a decision to halt its staking program.

The project announced this in a Twitter thread today, citing the United States Securities and Exchange Commission’s enforcement action against Kraken. According to XRPayNet, the decision is temporary till it gets more clarity and will affect all coins it provides staking services for, including the XRPayNet coin.

(By OKOYA DAVID)

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