Ripple says no trouble in Asia despite SEC lawsuit

2021-3-6 23:55

Ripple, the blockchain-based payments firm, is in trouble with US authorities but says its Asian business remains unaffected.

Ripple going strong

Payments firm Ripple claims it has not experienced any unwanted circumstances in the Asia Pacific region despite being pursued by the US Securities and Exchange Commission, as per a report today by Reuters.

Ripple was charged by the SEC last year in connection with alleged securities fraud regarding its sale of XRP tokens. Its founders, Chris Larsen and Brad Garlinghouse, were, in addition, named in the charge sheet for allegedly selling over $700 million of the tokens for personal gains.

The December 2020 lawsuit further alleged that Ripple indulged in token manipulation, unlicensed securities sale, paying to get listed on crypto exchanges, and paying for “fake” partnerships with several of its “partner” firms.

But despite all the charges, Ripple claims its Asian businesses are largely unaffected.

“It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in the Asia Pacific,” said Garlinghouse. He cited ‘regulatory clarity’ as the prime reason for continual operations in Asia and Japan.

Garlinghouse further added that he wasn’t aware of any crypto exchange outside the United States that halting XRP trading. “XRP is traded on over 200 exchanges around the world. It’s really only three or four exchanges in the United States that have halted trading,” he said.

He noted:

“We’re seeing the activity of XRP liquidity has grown outside the United States and continue to grow in Asia, certainly in Japan.”

US a ‘hindrance’

The Ripple co-founder had earlier stated that US regulators were tough on the crypto market and were losing ground to countries in the Far East—which are markedly fast about blockchain and crypto policies and attracted both funds and talent to the region.

Garlinghouse reiterated these thoughts on Thursday, stating US regulations were a “hindrance” to innovation. He added that Ripple had signed more than 15 new contracts with banks globally since the SEC brought its lawsuit.

The US case remains on track for a hearing in August 2021. Garlinghouse has largely kept quiet on the issue so far but claimed in January that the SEC’s “unproven allegations” were not representative of the Ripple business or the way XRP tokens are handled.

The post Ripple says no trouble in Asia despite SEC lawsuit appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) íà Currencies.ru

$ 2.4052 (-1.36%)
Îáúåì 24H $17.33b
Èçìåíåèÿ 24h: 0.81 %, 7d: 1.24 %
Cåãîäíÿ L: $2.4052 - H: $2.4149
Êàïèòàëèçàöèÿ $137.377b Rank 4
Öåíà â ÷àñ íîâîñòè $ 0.4634 (419.03%)

trouble ripple says lawsuit sec despite asia

Èñòî÷íèê: cryptoslate.com

trouble ripple → Ðåçóëüòàòîâ: 24


Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Market Expert: Not Long On XRP? You’re ‘Disrespecting’ Yourself

Analysts continue to believe in the potential price surge of XRP, predicting that it is still feasible that the crypto will hit the $3 mark. Related Reading: No Sweat! Dogecoin Will Hit $5 ‘Very Easy’ In 2025 – Analyst A market observer even claimed that XRP is on track for a massive price rally in the ongoing digital asset bull market as many cryptocurrencies are hitting all-time highs due to the positive outlook on the industry.

XRP Price Reaches 3-Year High At $1.6 – 2 Ways It Can Go From Here

The XRP price recently surged to a three-year high of $1. 6, marking a significant milestone in the cryptocurrency’s recent bullish rally. This remarkable price movement has garnered the attention of many analysts as investors continue to project the trajectory of the price.

XRP Price Set To Soar Past $5.85, Predicts Crypto Analyst

Crypto analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, projecting a price surge above $5. 85 based on a confluence of technical indicators and chart patterns. Despite recent market stagnation, the analyst highlights several key factors—including the application of Elliott Wave theory—that suggest a significant upward movement is imminent.

XRP Whales Are Depositing To Exchanges: Price To Drop Further?

On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day.

XRP Bullish Signal: Shark & Whale Population Sharply Growing

On-chain data shows the total number of sharks and whales on the XRP network has seen a sharp increase recently, a sign that could be bullish for the asset’s price. XRP Sharks & Whales Have Witnessed Their Count Go Up Recently According to data from the on-chain analytics firm Santiment, the shark and whale wallets have registered a notable jump over the past five weeks.

XRP Whales Go On $84 Million Buying Spree: Rally To Continue?

On-chain data shows the XRP whales have participated in a large accumulation in the past week, which could be bullish for the asset’s price. XRP Whales Bought More Than 140 Million Tokens Over The Past Week As explained by analyst Ali Martinez in a new post on X, the XRP whales have increased their supply share recently.

XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices. Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery.