SEC close to Ripple, regulation continues

SEC close to Ripple, regulation continues

Every Sunday we discuss the most important cryptocurrency news of the week. Last week, the lawsuit between the US Securities and Exchange Commission (SEC) and XRP took center stage as Ripple scored a huge win. Ripple and XRP have been pretty positive once again in the news this week, but nothing seems to be the case. Governments have also made themselves heard.

Ripple lawsuit continues, XRP is popular

Last week, many people were convinced that Ripple would win the lawsuit with the Securities and Exchange Commission. But the judge also partially ruled in favor of the SEC. Moreover, the policy maker did not agree at all with the judge, which is why it appears he wants to appeal. There, a second judge will decide which of the two parties is right.

A well-known lawyer who is a supporter of Ripple believes that XRP is OK. However, like Brad Garlinghouse, CEO of Ripple, he believes that victory in the appeal could take years.

Meanwhile, the enthusiasm for Ripple and XRP is evident. The number of wallet addresses containing more than 1 million XRP tokens has reached a new record. When the big news of the lawsuit was announced, trading volume and search volume on Google for both Ripple and XRP were higher than Bitcoin (BTC).

More coding regulation

But Ripple is not the entire cryptocurrency industry. For example, governments will continue to take steps to regulate the market. Last week, four US senators introduced a bill to regulate the decentralized finance (DeFi) industry.

They even want decentralized blockchain protocols to comply with US sanctions and anti-money laundering measures. Developers will also have to register the protocols with the government as a company.

The proposal was strongly opposed by the cryptocurrency industry as it was seen as messy and dangerous. But the government liked the idea because it comes from both parties in parliament.

Meanwhile, cryptocurrency speculators are once again very noisy in US politics. Presidential Attorney Robert F. Kennedy Jr. He wants to use bitcoin as collateral for the US dollar if he becomes president.

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