Strategic Ripple: XRP Sales Makeover Unveiled Ahead Of Landmark SEC Triumph

Ripple Labs, a leading cryptocurrency payments company, recently disclosed a shift in its strategy for XRP sales preceding its successful outcome against the SEC in July 2023. Furthermore, the company has committed to maintaining adherence to legal standards in its XRP sales. This announcement coincides with the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) transitioning into the remedies phase.

In its Q4 report, Ripple emphasized its commitment to complying with regulatory requirements related to XRP sales, especially as the Ripple vs SEC lawsuit progresses into the remedies phase. This dedication comes in the wake of a crucial legal triumph on July 13, 2023, when the court determined that XRP does not meet the criteria for classification as a security under federal law.

Ripple honored the achievement. They acknowledged the court’s conclusions about past XRP sales. The sales were seen as investment contracts requiring SEC registration. The company disclosed changes to XRP sales procedure before the July decision. They prepared well in advance. Moving forward, Ripple will make sure its sales procedures follow the court’s rules.

Ripple Gains MAS Approval For Payments

The company reiterated its commitment to raising standards of compliance, ethics, and transparency within the cryptocurrency industry. In conjunction with these initiatives, Ripple has been proactively acquiring licenses to ensure regulatory clarity and promote lasting innovation. Notably, it has successfully obtained a comprehensive Major Payments Institution license from the Monetary Authority of Singapore (MAS).

Furthermore, it has successfully registered as a virtual asset service provider authorized by the Central Bank of Ireland. These accomplishments add to Ripple’s current licenses, which include the NY BitLicense and money transmitter licenses spanning nearly 40 U.S. jurisdictions.

The CEO of Peersyst Technology, the company creating the sidechain that is compatible with the XRPL EVM, Ferran Prat Tió, recently disclosed that compensation for validators on the sidechain will be in XRP.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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