In a significant setback for the U.S. Securities and Exchange Commission (SEC) in its quest to regulate the cryptocurrency market, a federal judge has rejected the SEC’s request to appeal her recent ruling involving Ripple Labs, the company behind the XRP token. District Judge Analisa Torres ruled that the SEC
Issuance of license follows in-principle approval granted in June 2023 SINGAPORE & SAN FRANCISCO–(BUSINESS WIRE)–Ripple, the leader in enterprise blockchain and crypto solutions, announced today that its Singapore subsidiary Ripple Markets APAC Pte Ltd has secured its Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). The
Ripple is backing out of its planned acquisition of Fortress Trust only 20 days after announcing the purchase in order to ostensibly increase its number of licenses in the U.S. Yesterday, Ripple CEO Brad Garlinghouse said on Twitter about the decision to abandon the acquisition. However Ripple will continue to
Ripple announced on September 8 that it plans acquisition of Fortress Trust in order to increase its portfolio of regulatory licenses in the U.S. Fortress Trust’s mission is to serve as the regulatory and technological backbone for blockchain enterprises. Moreover, the firm is licensed as a Nevada Trust, which permits
The Securities and Exchange Commission (SEC) has filed yet another interlocutory appeal in its relentless pursuit of a legal case against Ripple Labs. This latest move by the SEC has not gone unnoticed, Ripple’s Chief Legal Officer, Stuart Alderoty, was quick to label it as “hypocritical.” Another SEC filing, another
SAN FRANCISCO & LAS VEGAS–(BUSINESS WIRE)–Ripple, the leader in enterprise blockchain and crypto solutions, announced today it has agreed to acquire Fortress Trust, a subsidiary of Fortress Blockchain Technologies. Fortress Trust is a financial institution that provides licensed Web3 financial, regulatory and technology infrastructure for blockchain innovators. Through its technology
Ripple Labs Inc. and its senior executives have strongly fought the SEC’s attempts to validate an interlocutory appeal. This case may play a significant role in determining the legal framework for cryptocurrencies in the United States, particularly whether or not XRP, Ripple’s native token, is an investment contract. The United
In a strategic move aimed at maintaining the liquidity of the XRP cryptocurrency, Ripple Labs has released a total of one billion XRP coins from its escrow accounts. The release was executed in four transactions, with the overall transferred XRP valued at $510 million. According to popular blockchain tracker Whale
Western Union, the world leader in money transfers, has entered the cryptocurrency realm. CEO Hikmet Ersek has said that the business is investigating ways to use the Ripple blockchain and its native token, XRP. Western Union’s entrance into blockchain and cryptocurrencies was announced by Ersek in a recent conference call
The CEO of Ripple, Brad Garlinghouse, has a new lawyer representing him in the XRP litigation, which has been pending in the United States District Court. This action follows a recent application for permission to pursue an interlocutory appeal in the matter filed by the U.S. SEC. In a court
