CandleFocus Ripple CLO Names Key Condition for Ripple Acquiring High Position in US Crypto Market
2024-09-18
Author: Content Editor
Ripple's Chief Legal Officer, Stuart Alderoty, spoke at the Financial Markets Quality Conference 2024 alongside representatives from Robinhood, Grayscale, and other crypto giants. Alderoty highlighted the lack of clear cryptocurrency regulations in the U.S., calling it a "regulatory cloud." He expressed that once this cloud is lifted, Ripple will become the most trusted source for enterprise support for crypto solutions in the U.S. Last year, Ripple won a court case against the SEC, establishing XRP as a non-security. The SEC requested $2 billion in fines, but the judge ruled Ripple only had to pay $125 million. In a recent post, Ripple emphasized the revolutionary role of stablecoins in transnational payments, underscoring their peg to fiat currencies and efficiency. Ripple's stablecoin, RLUSD, was launched in August 2022 and is fully compliant with regulators.
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