February 6, 2023

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Timo’s take: XRP rechtszaak een keerpunt voor crypto in de VS

The XRP case is a turning point for US crypto

In the new year, one theme becomes more prominent; Laws and Regulations. This week was on it Crypto news Read that many countries have again taken important steps in this area. Bitcoin (BTC) may benefit from this in the long run. However, looking at the case of Ripple (XRP) in the US, it is not all positive. You can also find me on Twitter these days, And here!

Brazil and Nigeria Clarify Bitcoin

This week, first, there was news Nigeria is considering Legalize investing in Bitcoin and other crypto. Crypto is still banned in the country. But if this law is passed, the country will move somewhat in the right direction. The government in the country seems to be realizing that you can’t ban Bitcoin.

If Bitcoin is banned in Nigeria, residents who want to buy Bitcoin will travel to a neighboring country to do so. Bitcoin is digital, decentralized and independent of any government.

Brazil posted a Positive step. The country’s president signed a law this week legalizing payments through bitcoin and crypto. The law gives companies more clarity about what is and isn’t allowed. This is why laws and regulations are not a bad thing for the crypto industry.

XRP lawsuit creates risk in US

However, laws and regulations can go too far. If so, innovation is nipped in the bud Crypto companies For countries where things are better regulated. America is at a turning point in this regard.

Perhaps in 2023 it will finally become clear who is the winner in the XRP case. must beat the ripple and XRP Not labeled as an outcome, it is a gain for the entire sector. If the Securities and Exchange Commission (SEC) prevails, it will be a different story.

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If so, it seems likely that this case will set a precedent for other projects to follow. However, America is shooting itself in the foot, I expect. Companies and projects simply move to other parts of the world. No matter what happens in 2023, Bitcoin and crypto will continue.