Bitboy Crypto: Ripple XRP Will Be Delisted FOREVER On Exchanges?!

Bitboy Crypto: Ripple XRP Will Be Delisted FOREVER On Exchanges?!

The sec is playing a power game with cryptocurrencies they didn’t like the idea of initial coin offerings icos because they said most cryptos were securities pretending to be coined suddenly most crypto exchanges stopped selling any cryptos on the fringe to u.s citizens and the sec brought a lawsuit against several cryptos just to make a statement this is why there

Was a significant drop in crypto prices in 2018 u.s citizens were out of the mix fast forward to 2020 most major cryptocurrencies were sold on u.s exchanges a new chapter of decentralized finance began with cryptocurrency defy and this recent boom we are in it for the long haul what a moment to test the sec’s resolve in japan xrp is already recognized as a coin

Not a security this was one of the first cryptos sold legally in the u.s so why not exercise your legal authority by bringing a lawsuit against a well-known cryptocurrency like xrp ripple is a possible quick and inexpensive way for banks and other entities to exchange money it can’t possibly be security it is plausible that the sec will insist that xrp be delisted

Forever on all exchanges however that won’t be a piece of bad news for xrp would it let’s find out together money is no problem for xrp because it is not decentralized it isn’t even a good example of a cryptocurrency ripple will win the case against the sec meanwhile major u.s exchanges like coinbase continue to prohibit the purchase or sale of xrp until the legal

Dispute is resolved it is risky for cryptocurrencies but not as tricky as the rule that says hard wallets must comply with know your customer requirements because u.s citizens own most cryptocurrencies the government could easily criminalize them if they choose recent media reports state that all xrp trading has been stopped on the bit stamp market because the sec

Accused the ripple payment business of selling 1.3 billion dollars of unregistered securities the new legal proceedings brought by the sec against ripple’s progenitors may influence the future price of xrp the securities and exchange commission asserts that ripple group sold 1.3 billion dollars in unregistered securities beginning in 2013 and used that money to

Distribute those securities unauthorizedly when it sold its periodic chunks totaling 6 billion xrp in an escrow wallet many cryptocurrency exchanges and other financial institutions have stopped trading xrp and have begun liquidating their xrp holdings in response to ripple’s dismissal of the claims and emotional support of their positions in court this action

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Is being taken because if the sec were to succeed in its lawsuit against the ripple companies it would be simpler for the agency to find cryptocurrency companies selling the xrp digital currency on identical grounds coin market cap statistics classify the top 20 exchanges worldwide and bitstamp is ranked 15th in the trading market as an an individual exchange on

August 2nd 2022 this stamp announced that it had permanently ceased trading for xrp for u.s users bitstamp had a user base of 4 million globally users of the exchange won’t be able to exchange the xrp token for paxo standard pax a well-known stablecoin that utilizes the ethereum network starting on august 11th bitstamp will discontinue support for a total of 14

Cryptocurrency pairs users won’t be able to exchange bitcoin cash bch for british pounds anymore among the notable d listings is the link eth pair the biggest cryptocurrency exchange in europe bitstamp declined to say why it stopped supporting the pairs mentioned earlier it should be remembered that delisting a trading pair is a choice that lasts forever according

To the exchange it regularly evaluates its trading pairs based on how well they have performed recent market changes also have an impact on its d-listing choices for trading pairs that have been delisted use users will still be able to view their trade history in response to the u.s securities and exchange commissions legal action against ripple bitstamp declared

On december 25th 2020 that it would stop accepting deposits and trading in xrp from american consumers it was the first significant cryptocurrency exchange to remove the contentious token and coinbase binance us and other well-known brands soon followed the controversial cryptocurrency is still actively traded outside of the united states following the securities

And exchange commission’s complaint against ripple labs trading in the xrp token has been halted according to exchanges and financial platforms including coinbase and ok coin the blog claims that zigloo and app and wyrex a crypto payments company did the same although directly named in the precedent setting case ripple represents the whole industry the results of

The numerous hearings will significantly impact any future lawsuits the sec files against any crypto firms whether they be exchanges or cryptocurrencies for instance after the trading prohibition coinbase swiftly delisted xrp nonetheless the sec pursued them according to the business and served a wells notice which is an official manner a regulator notifies a firm

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That it intends to sue the corporation in court while the sec and xrp conflict rages regulatory pressure is applied to other cryptocurrencies not all of them though for taxes bitcoin and ethereum have already been declared as property and are therefore free from any definitions of securities most other cryptocurrencies fall into the same sector all transactions

Must be reported as taxable events until cryptocurrencies are deemed digital currency at the 2019 future of fintech conference in new york david schwartz cto of ripple labs inc said it’s interesting that financial institutions are very conservative and slow moving this may help explain why adoption has been gradual despite widespread interest in xrp and the price

Crisis stayed stable here is the big boost for ripple anyways following the launch of the xrp ledger which offers central banks a safe way to manage cryptocurrency ripple has made some surprising discoveries the business has long argued that the central bank digital currency cbdc would be built on distributed ledger technology according to the latest report

Financial institutions are overwhelmingly in agreement about the potential of cbdc’s adopting cbdcs may ultimately be advantageous for ripple xrp which is now ranked seventh among cryptocurrencies the company’s technology might assist central banks in managing high volumes of transactions to enable payments between intermediaries to settle two separate currencies

Ripple products employ xrp according to one of ripple’s most recent polls the asia-pacific region has the most confidence in the future of cbdc’s over 70 percent of respondents surveyed across five global areas believe cbdc’s stand to deliver significant social change within next five years in addition to faster and more affordable payments the digital nature of

Cbdcs can make loans and other financial services more accessible to historically underserved communities additionally in keeping with ripple’s technological advantages the cbdcs might make it simpler to distribute money for social welfare initiatives ripple noted several challenges related to customer education identity verification offline access and privacy and

Security safeguards in the meantime ripple must continue fulfilling its promise to provide all the advantages the technology offers according to a poll by the bank for international settlements 9 out of 10 central banks are now investigating cbdcs in countries like china bhutan and norway the cbdc programs of several central banks are in varying phases of development

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Additionally 85 percent of financial institution ceos predict their respective nations will introduce a digital currency within the next four years ripple added that they believe the cbdc technology would be effective a 44-page report commissioned by cpa australia delves into the status of central bank digital currency development worldwide while exploring viable

Blockchain candidates for hosting cbdc’s in the coming years the report offers up evaluations of the three most transacted cryptocurrencies bitcoin ether and xrp and analyzes their sustainability or lack thereof for use by central banks according to the report banks and governments look at the ripple network and the xrp coin more favorably due to their centralized

Nature the report states that ripple and xrp enjoy the trust of many banks as a model for cbdcs because it is highly centralized and is based on a permissioned network where only specific network nodes can validate transactions as opposed to decentralized and permissionless bitcoin and ether due to developers ability to manage the time and quantity of supply of

Its linked tokens the paper asserts that ripple’s centralized operations are comparable to those of central banks ripple also permits the establishment of new currencies and ripple developers can control the timing and quantity of supply like current major bank operations the study also mentions that ripple does not operate on a blockchain network per se referring

To the consensus mechanism used by the ripple protocol which it correctly notes is a patented invention of ripple according to the report the central bank of france the bonk de france has already expressed interest in studying ripple as a potential platform for hosting a cbdc for all of europe in conclusion the study finds that the covid-19 epidemic has hastened

The digital transition accelerating the growth of blockchain initiatives digital payment systems and the financial technology industry so we can safely assert that xrp being delisted on all exchanges is inconsequential let us know your thoughts in the comment section

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Bitboy Crypto: Ripple XRP Will Be Delisted FOREVER On Exchanges?! By Crypto Inspiration