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The Bank for International Settlements (BIS) has introduced a cross-border payments interoperability and extension (PIE) task force, with Ripple, the blockchain-based digital payment network, being one of its notable participants. XRP, a cryptocurrency used by Ripple in its On-Demand Liquidity (ODL) solution, was recently classified as not a security. The BIS, an international financial institution owned by member central banks, released a summary of the PIE task force ’s meeting on May 11, which outlines the task force ’s commitment to enhancing cross-border payments and achieving the quantitative goals established by the G20 in this area. The BIS Committee on Payments and Market Infrastructures has announced the membership of its cross-border payments interoperability and extension task force . For further details, look here https://t.co/yDQmdOmp9m pic.twitter.com/8G9UpOaDtL — Bank for International Settlements (@BIS_org) August 9, 2023 The Financ...

XRP Community On SEC Asking Coinbase to Delist All Crypto Pro-XRP lawyers including John E. Deaton, Bill Morgan, and others comment on the latest news of the US SEC asked Coinbase to stop trading all crypto except Bitcoin before the lawsuit. advertisement John Deaton said the SEC is trying to build an anti-crypto narrative and the latest report shows how significant Judge Torres’ ruling in the US SEC v. Ripple Labs. “ If the SEC had won the case as it had hoped, Gary Gensler and Elizabeth Warren’ s anti-crypto army would’ve been out in full force,” said Deaton.  “Do you think all Democrats who’ve spoken out since the Torres Decision, including the 6 who voted in favor of the Bill coming out of the Financial Services Committee , would’ve done what they did had Torres ruled XRP is a security? Of course not.” Lawyer Bill Morgan argues the Torres ruling is a crucial decision for the crypto industry, esp...

SEC Chair on AI Regulation SEC Chairman Gary Gensler recently remarked that AI’s potential with respect to interference and disruption of market dynamics would attract the agency’s wrath. Speaking earlier this week before The National Press Club, the Chairman said terrible actors may seek to use AI to influence the US markets, or spook the public, which will attract an appropriate response from the commission. advertisement Unlike the discrepancy most people make, Gensler noted that ‘under the securities laws, fraud is fraud,’ irrespective of the format the fraud takes. Bad actors may seek to use AI to influence our mkts, or spook the public. Make no mistake, under the SEC urities laws, fraud is fraud. @ SEC Gov is focused on identifying & pro SEC uting any form of fraud that might threaten investors, capital formation, or the mkts more broadly. — Gary Gensler (@GaryGensler) July 20, 2023 Recommended Article...

XRP Lawsuit: Ripple Attorney Files Motion to Withdraw According to a filing in the Southern District Court of New York on July 12, a motion for Anna R. Gressel to withdraw as attorney of defendant Ripple Labs is filed with the court. advertisement Ripple has requested the court to grant Anna R. Gressel of Debevoise & Plimpton LLP to withdraw as attorney of record in the US SEC lawsuit. It follows as Anna Gressel is no more associated with the law firm effective as of July 12. Other attorneys of Debevoise & Plimpton LLP will continue to represent Ripple Labs in the lawsuit. Moreover, Ripple asserts that Gressel’s withdrawal will not impact the interests of the defendants including CEO Brad Garlinghouse and co-founder Chris Larsen. Also Read: Largest Shiba Inu Whale Transfers 4 Trillion $SHIB Tokens Recommended Articles Crypto Presale Projects For...

Bullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears have not given up yet. Bitcoin continues to trade near $31,000, making it an important resistance level to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin. The institutional investors also seem to be positive about the prospects of a further rally in Bitcoin (BTC). CoinShares head of research James Butterfill said in a recent report that 98% of all the digital asset inflows of $334 million went into Bitcoin-related products. Daily cryptocurrency market performance. Source: Coin360 Although the short-term price action on Bitcoin and select altcoins looks positive, market participants should stay cautious due to the uncertainty regarding macroeconomic issues. The crypto markets are likely to be influenced by the United States inflation figures and the Federal Reserve’s monetary action over...

In hopes of attracting organic activity, airdrops were once a popular way to bootstrap adoption for new crypto networks. XRP was particularly attractive due to its ultra-low transaction fees. When the SEC sued Ripple for conducting an unregistered securities sale in December 2020, several XRP -friendly airdrops were quickly launched. Fearing that the US government might shut down the XRP Ledger, win a debilitating financial settlement against Ripple, or otherwise inhibit growth in the industry, many projects viewed early 2021 as the last opportunity to run a successful airdrop campaign to XRP token holders. However, most social media accounts of airdrops from this time either no longer exist or have become inactive. Some accounts claimed to support a good cause; others used a celebrity’s image — possibly without permission — or used suspicious marketing tactics. Flare (FLR) airdrop The largest airdrop in XRP history was Flare. It took a snapshot of the XRP network on...

Over the years, Ripple has announced innumerable XRP partner ships that it ultimately abandoned. Thousands of crypto leaders publish official-looking Press Releases about preliminary initiatives that generate minimal results. Their primary intention is usually to associate the token with the large brand partner and its “utility.”  Occasionally, those large brands are not even aware that the partnership exists. Helium (HNT), for example, once promised token holders that it had partnerships with Salesforce and Lime scooters that never existed. According to the Securities and Exchange Commission (SEC), Ripple’s partnership announcements were not merely innocent attempts at brand-building — to the contrary, Ripple made over $2 billion off XRP sales in large part as it “made an avalanche of public statements” attempting to increase the value of XRP. According to commissioners, Ripple misused XRP partnerships to sway investors into believing they were making an investment in XRP...

Today's CPI report highlighted a slight decline in inflation, a development which could put a strong price floor beneath Bitcoin and select altcoins. The March consumer price index climbed marginally by 0.1%, below economists' expectation of a 0.2% increase and February’s advance of 0.4%. Although inflation is showing signs of slowing, the year-on-year CPI increased by 5%, well above the Federal Reserve’s 2% target.  The FedWatch Tool shows a 67% probability of a 25 basis point rate hike in the Fed’s May meeting but by the end of the year, the majority of the market participants have come to expect rates to be lower than the current level. Daily cryptocurrency market performance. Source: Coin360 An expansive monetary policy is usually positive for risky assets. In addition, crypto traders will focus on Bitcoin’s (BTC) halving which is set to occur next year. That is also likely to be a positive for cryptocurrency prices. While the near-term picture is uncertain, the long-term...