Ripple CLO Names Key Condition for Ripple Acquiring High Position in US Crypto Market

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As a seasoned crypto investor with a knack for spotting promising opportunities, I’ve been closely following the developments at Ripple for quite some time now. The recent statements made by Stuart Alderoty at the Financial Markets Quality Conference 2024 have certainly piqued my interest. The prospect of Ripple becoming “the most trusted source for enterprise support for crypto solutions in the U.S.” once the regulatory cloud is lifted, sounds like a promising future indeed.

At the Financial Markets Quality Conference 2024, Ripple’s top legal officer, Stuart Alderoty, shared insights alongside key figures from notable cryptocurrency companies like Robinhood, Grayscale, and others.

Again, Alderoty expressed his thoughts on the ongoing uncertainties surrounding cryptocurrency regulations in the U.S., likening the situation to a “regulatory fog.

He made a statement that once this “regulatory cloud” is removed and the U.S. gets “come policy clarity,” Ripple will become “the most trusted source for enterprise support for crypto solutions in the US!”

As an analyst, I’m excited to share that Stuart Alderoty from Ripple has just stated: “Once we clear the regulatory uncertainties and establish some policy clarity in the U.S., Ripple will undeniably become the most trusted provider of enterprise-level cryptocurrency solutions within the American market! #XRP” 🤯🍿— JackTheRippler ©️ (@RippleXrpie) September 17, 2024

Ripple beats SEC by scoring two legal wins

Over the past year, Ripple has achieved significant courtroom triumphs led by Gary Gensler, primarily against the Securities and Exchange Commission (SEC). A pivotal moment occurred last summer when Federal Judge Analisa Torres decided that transactions involving XRP on secondary markets were not considered as security sales. This decision mostly established XRP’s official classification as a non-security. In subsequent legal battles with cryptocurrency exchanges, the SEC has been cautious in referring to XRP by this name.

This year, the Securities and Exchange Commission (SEC) asked the court to impose a fine of $2 billion on Ripple and require them to cover the costs associated with the lawsuit. But the judge has ruled that Ripple should only pay the SEC $125 million, which is significantly lower than what Ripple had initially proposed as a fair amount ($10 million).

Ripple endorses RLUSD stablecoin in recent post

In a recently published X post, the official Ripple account shared its article on stablecoins, underscoring its revolutionary role in the sphere of transnational payments. The major convenience of these assets is their peg to fiat currencies, like the U.S. dollar or euro, for those users who are troubled with the high volatility level of cryptocurrencies, like Bitcoin.

Stablecoins blend the swiftness, safety, and effectiveness of blockchain technology with the reliability of US Dollars. With cash transactions decreasing, an increasing number of people are opting for stablecoins to facilitate swift, secure, and economical transactions. 💸

Keep up-to-date on the latest advancements in stablecoin payments:

— Ripple (@Ripple) September 17, 2024

2022 saw approximately $7 trillion in cross-border transactions facilitated using stablecoins backed by traditional currencies, through partnerships between Mastercard, PayPal, and other entities.

Speaking about Ripple’s stablecoin, RLUSD, which debuted in early August, it was engineered to maintain a consistent value equivalent to that of the U.S. dollar. This stability is achieved through its backing by a combination of cash and cash equivalents in a 1:1 ratio. Furthermore, Ripple claims that this digital currency adheres to all relevant regulations.

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2024-09-18 13:36