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#Write2Earn A top #Ripple's lawyer has spotlighted a contradiction between the SEC's assertion of authority over cryptocurrencies and Treasury Secretary Janet Yellen's calls for new legislation to fill regulatory gaps
Yellen calls for urgent crypto regulation
Coinbase challenging the SEC
The discussion around cryptocurrency regulation has taken a new turn as Stuart Alderoty, a top lawyer for Ripple, took to Twitter to highlight contradictory statements from the Securities and Exchange Commission (SEC) and Treasury Secretary Janet Yellen.
In a recent court proceeding involving Coinbase, the SEC referred to the #cryptocurrencymarket as a "rounding error" in the grand scheme of the global capital markets and asserted its authority over the sector.
In stark contrast, Yellen urged Congress just a day prior for new legislation to address the regulatory gaps in the cryptocurrency domain.
Yellen calls for urgent crypto regulation
Against the backdrop of the #ftx exchange collapse and increasing vulnerabilities in the digital asset space, Treasury Secretary Janet Yellen has urged Congress to swiftly enact new legislation to regulate the cryptocurrency market.
As reported by @WISE PUMPS , Yellen has pinpointed a significant regulatory void, particularly emphasizing the need for explicit legal frameworks to govern the spot market for digital assets not classified as securities.
The proposed Financial Innovation and Technology Act is one such legislative effort aiming to give federal regulators clear oversight over digital asset markets, intending to enhance customer protection and market integrity.
Coinbase challenging the SEC
In a Manhattan federal court, Coinbase and the SEC engaged in a legal battle that could set a precedent for the classification of digital assets. The heart of the debate is whether cryptocurrencies such as Solana, Cardano, and Polygon, traded on Coinbase and deemed investment contracts by the SEC, should be registered as securities.
Coinbase contests this notion, arguing that crypto assets do not fit the traditional definition of an investment contract.
The SEC's lawsuit extends beyond token offerings, targeting the exchange's 'staking' programs, which the agency argues should be registered.#DYM

#Write2Earn Ripple's Q4 reports offers insights into the company's legal developments and #XRPL activity
#Ripple's legal wins
Global compliance efforts
A spike in trading volumes
Ripple's Q4 report, which was released on Feb. 7, delivers an in-depth analysis of the state of the cryptocurrency markets, with a special focus on Ripple's strategic positions, regulatory victories, and the evolving landscape of digital assets.
In its commitment to transparency, Ripple shares insights into the broader crypto market dynamics, the #XRPledger 's advancements, and Ripple's regulatory milestones, underscoring the firm's proactive approach to communication and its call for industry-wide trust and openness.
Ripple's legal wins
A standout feature of the quarter was Ripple's significant legal victories against the SEC, which not only clarified XRP's status as not being a security under federal law but also marked a historic win for the crypto industry at large.
These rulings have pivotal implications, setting precedents for the classification of digital tokens and reinforcing Ripple's dedication to legal compliance and ethical business practices.
Ripple's response to the court's findings, including adjustments to its XRP sales strategy, exemplifies its commitment to aligning with legal standards and fostering a transparent and compliant crypto ecosystem.
Global compliance efforts
Ripple's report also touches on its licensing achievements, including obtaining a Major Payments Institution license from the Monetary Authority of Singapore and a virtual asset service provider registration by the Central Bank of Ireland. These licenses are part of Ripple's strategy to navigate the global regulatory landscape, emphasizing the company's efforts to comply with international financial regulations while expanding its services.
A spike in trading volumes
According to the report, XRP trading volumes experienced a significant increase in Q4 2023, in line with the overall uptrend in the cryptocurrency market. This rise in trading activity reflects a growing interest in $XRP among investors, amidst a broader crypto market rally.
Ripple's commentary on the future suggests that the market might see further changes, particularly with the potential for increased institutional interest following the development of approved ETFs.#TrendingTopic

#Write2Earn ה-CLO של ריפל הדגיש שהצהרת ה-SEC על רגולציית קריפטו בתביעת Coinbase מתנגשת עם דעתה של מזכירת האוצר לשעבר ג’נט ילן.
נקודות עיקריות של הסיפור
ריפל של CLO הדגיש את העמימות שבקביעת הרגולציה של מטבעות קריפטו בארה"ב.
בתיק Coinbase ציינה ה-SEC שאין פערים חקיקתיים ביחס לקריפטו.
עם זאת, ג’נט ילן קראה לפעולה דחופה כדי למלא פערים רגולטוריים הקשורים לעולם הקריפטו.
כשהקרב המשפטי של ריפל ושל Coinbase נגד רשות ניירות הערך האמריקאית ו-#exchange Commission (SEC) הוחרף, הרגולטורים במדינה מסרו הצהרות סותרות בנוגע לקריפטו. היועץ המשפטי הראשי של ריפל, סטיוארט אלדרוטי, הדגיש לאחרונה את העמדות הסותרות של ה-SEC ושל שרת האוצר ג’נט ילן בנוגע לרגולציית קריפטו.

#Write2Earn Ripple's worldwide momentum continues to be unrivaled
Brad Garlinghouse, CEO of Ripple, has celebrated a series of epic wins for the fintech giant. In a tweet, the #RippleCEO celebrated the company's latest acquisition of Standard Custody and Trust, including its licensing wins.
In Q4, Ripple (including subsidiaries) gained licenses in major markets, including its full Major Payments Institution license from the Monetary Authority of Singapore (MAS) and its registration as a Virtual Asset Service Provider by the Central Bank of Ireland.
To date, Ripple holds a New York BitLicense and has secured money transmitter licenses in nearly 40 jurisdictions in the U.S.
Ripple announced on Tuesday that it had agreed to acquire Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets.
This step reinforces Ripple's commitment to regulatory compliance while also allowing the company to expand its existing product offerings and explore new, complementary products.
We are pleased to announce that we have entered an agreement to be acquired by @Ripple. Looking forward to this next chapter, focusing on what we do best - building enterprise-grade solutions for our customers. Learn more: https://t.co/KySdqUH2Ma
— Standard Custody (@StandardCustody) February 13, 2024
With the acquisition, Standard Custody's limited purpose trust charter and money transmitter licenses will be added to #Ripple's growing regulatory license #portfolio .
Ripple's worldwide momentum continues to be unrivaled, serving enterprises all over the world. The acquisition of Standard Custody followed last year's acquisition of Metaco, a custody solution.
Ripple recently announced custody collaborations with top-tier institutions such as HSBC, BBVA and Zodia Custody, as well as the expansion of its Ripple Payments product into new territories, such as Africa.
Ripple has doubled down on its core businesses of payments and custody, supporting live commercial custody offerings in 20 regulatory jurisdictions and payments to 70 countries worldwide.
In 2023, a key legal victory in the Ripple lawsuit represented a watershed moment in determining $XRP 's legal standing. This was the first industry victory against the SEC, setting a precedent for other tokens in the United States.#BTC