How these issues play out will set precedents that could shape the crypto landscape for years to come.Binance has suffered further blows to its European business as the exchange confirmed to CryptoSlate that its Euro payment partner, Paysafe, will stop its bank transfers services from September 25.Ī Paysafe spokesperson corroborated the development to CryptoSlate in a June 29 email, saying that the firm had taken “the decision to cease offering our embedded wallet solution to Binance across the European Economic Area (EEA) region.” Also, whatever Elon Musk decides to do with Dogecoin would have a long-lasting effect on the broader industry. With the SEC signalling its intent to appeal the Ripple Labs ruling on XRP, a cloud of uncertainty hangs over the crypto market in the short term. With this, Dogecoin integration with X could be on the cards. Musk’s electric car company, Tesla, already accepts dogecoin payments for merchandise purchases on the Tesla Store. There are now speculations that the newly rebranded X app could start to accept dogecoin in the coming months given owner Elon Musk’s seeming infatuation with the meme coin. Recall that Elon Musk refers to himself as the Dogefather and has always been supportive of the meme coin in the past. Read also: 3 platforms that can help you earn passive income through crypto p2p lending There is a connection between this X update and Dogecoin’s mild rise because Musk’s tweets have previously moved the Shiba Inu-themed coin. In addition to the new X symbol, the header contained the symbol for DOGE, a coin long associated with the sometimes-eccentric billionaire.ĬoinGecko data, at press time, shows that Dogecoin is experiencing around 5% surge in the past 24 hours, and 12% in the past seven days. On Tuesday, observant X (formerly Twitter) users pointed out that Elon Musk’s profile location now sports both an “X” and a “D” - with X referencing Twitter’s new branding, while D has been interpreted to mean Dogecoin. This development, again, fanned the flames of speculation that Dogecoin may have a future on the platform. XRP now 4th largest crypto is this the right time to buy or sell? Dogecoin pumps following Twitter rebrandingĭogecoin has been in the news this week and this all goes down to a subtle change in Elon Musk’s Twitter bio after he rebranded Twitter to “X”. Accordingly, the SEC requested that the court reject this part of the Ripple decision and hinted at a possible appeal in the Ripple case. This divarication of institutional and retail sales was broadly seen as a victory for the crypto industry but now the SEC has put forth its argument, asserting that the court failed to adequately consider the evidence presented by the regulator during the case.Īlso, the regulatory institution claims that the court did not appropriately apply the relevant laws to the facts presented before it. However, weeks ago, the court determined that Ripple’s XRP token sales to institutional investors breached SEC rules but the judge ruled that Ripple’s offerings to retail investors on exchanges didn’t infringe on these same regulations. The lawsuit has been ongoing for years because the SEC says if Ripple Labs is permitted to continue operating without registering the XRP token as a security, it could potentially harm investors. The SEC believes that the judge made an error in ruling against them and intends to challenge the decision.įor the uninitiated, the crux of the whole issue is around whether Ripple Labs should have registered its XRP token as a security with the SEC. SEC to appeal XRP court rulingĪ recent Bloomberg report revealed that the United States Securities and Exchange Commission is set to appeal the ruling made by Judge Analisa Torres in favour of Ripple’s XRP. With a notable surge in popularity and acceptance which cements its appeal in the crypto community, it remains to be seen whether this will be enough to sustain the position and momentum XRP has garnered in recent weeks. Since the non-security ruling in the Ripple vs the US SEC case weeks ago, XRP has captured the spotlight in the crypto market and now occupies the fourth spot in the list of the largest cryptocurrencies by market capitalisation, surpassing Binance’s BNB in the process.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |