NFT News Official TheBitTimes.com

The Dubai International Financial Centre (DIFC) has approved two crypto assets, XRP and Toncoi (TON), to be incorporated into its Special Economic Zone (SEZ). The two new assets are joining Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTE), which were approved earlier. The move will allow over 4000 financial institutions and companies within the DIFC to utilize XRP and TON. According to Brad Garlinghouse, CEO of Ripple, “It’s refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub.” Also Read: Shiba Inu vs. XRP: Which Will Gain More by Christmas 2023? Dubai’s regulators have consistently demonstrated their pro-innovation approach, with this announcement as the latest example. @Ripple will continue doubling down in regions where there is regulatory clarity for crypto – a key reason we’re hosting #RippleSwell in Dubai this… https://t.co/PlIj7ubTcg ...

Ripple says approval allows licensed firms to incorporate XRP into their crypto asset services. CEO Brad Garlinghouse notes that Dubai continues to grow as a global leader in crypto regulation and innovation. Other cryptocurrencies allowed under the DFSA virtual asset regime are BTC, ETH and LTC. Ripple has announced that the Dubai Financial Services Authority (DFSA) has officially approved the XRP cryptocurrency token under the regulator’s virtual assets regime.  The approval allows licensed firms in the Dubai International Financial Centre (DIFC) to integrate XRP into their virtual asset services, the blockchain company noted in a press release. XRP joins BTC, ETH and LTC on DFSA’s list DFSA’s approval of XRP brings the number of digital assets allowed under the regulator’s virtual assets regime to four, with the Ripple token joining Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). According to Ripple, the development could ...

Shiba Inu (SHIB) and XRP are two of the most popular cryptocurrencies among the top 20 projects. Both assets have given massive returns to early investors. However, which token will make you more money by Christmas 2023? Let’s take a look. Also Read: Shiba Inu (SHIB) Price Prediction: November 2023 Shiba Inu (SHIB) vs. XRP in 2023 Source: SpaceMoney Since the beginning of this year, SHIB’s price has fallen by about 2%. The token, although immensely popular, has struggled to gain momentum despite big launches. The project’s layer-2 network, Shibarium, did not do much to boost the asset’s price, although there was a lot of hype around it. Furthermore, even when the larger crypto market rallied towards the end of October, SHIB struggled to breach the $0.000008 level. Nonetheless, the token is still up 7% over the previous week. Also Read: Ripple (XRP) Price Prediction: November 2023 On the other hand, XRP is up by almost 67% since the beginning o...

Also Read: Russia’s Putin Says US Dollar Losing Global Role; Bitcoin To Gain? advertisement Attorney Caleb J. Robertson Appears For Garlinghouse In a filing dated August 22, 2023, Attorney Caleb J. Robertson of Cleary Gottlieb Steen & Hamilton LLP appeared on behalf of the Ripple CEO in the lawsuit against the US SEC. In the filing, the attorney requested the court to provide all papers and communications in the lawsuit. Besides the Ripple litigation, attorney Robertson has experience working in enforcement space for a cryptocurrency platform “In connection with multiple government investigations.” He also represents financial institutions, securities trading firms, investment managers, and public companies in regulatory issues. Ripple CEO’s Role In XRP Lawsuit In its December 22, 2020 complaint against the company, the US SEC named Garlinghouse along with Christian Larsen, the company’s co-founder for raising capital t...

About $570 million in weekly BTC options expire on Friday, and the recent macro and crypto news events have further tilted the advantage to bearish traders. On Aug. 16, Bitcoin closed below $29,000 for the first time in 56 days. Analysts quickly pointed to this week’s Federal Open Market Committee minutes, which expressed concerns about inflation and the need to increase interest rates, as the likely cause. Despite the immediate reasons for the drop, the upcoming $580 million Bitcoin (BTC) options expiry on Friday favors the bears. They could potentially make a $140 million profit on Aug. 18, adding to the downward pressure on Bitcoin and complicating BTC’s search for a bottom. Federal Reserve minutes did not impact traditional markets On Aug. 16, Federal Reserve Chair Jerome Powell emphasized the 2% inflation target. This pushed the U.S. 10-year Treasury yield to its highest level since October 2007, prompting investors to shift away from riskier assets like cryptocurrencies in favo...

According to crypto analyst Austin Hilton, holding 500 XRP tokens might be enough to turn an investor into a millionaire. Hilton cites Kenny Nguyen as his source, who claimed that certain events may skyrocket the token’s price. Currently, buying 500 XRP tokens would cost around $335. For this investment to become a million dollars, it would need to rally by 298407.46 %. However, before such a rally can take place, a few events need to occur for the project. The first event, which has already somewhat taken place, is Ripple’s victory against the SEC (Securities and Exchange Commission). A US court made a historic ruling that XRP tokens are no securities, contradictory to the agency’s lawsuit. The second event is the re-listing of the token on exchanges that removed it during the trial. Several prominent exchanges have already begun trading for the token after years of absence on their platforms. Also Read: XRP: List of Exchanges That Have Re-listed the Crypto...

Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins. Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty. Glassnode’s latest weekly newsletter highlighted that Bitcoin’s (BTC) consolidation has shrunk the Bollinger Bands, which are separated by just 4.2%. Citing various on-chain indicators, the authors concluded that investors are unwilling to sell, and in several aspects, it looks similar to “periods like 2016 and 2019-20, characterized by choppy market conditions.” Daily cryptocurrency market performance. Source: Coin360 Although Bitcoin’s near term may look uncertain, the long term remains bullish. Capriole Investme...

The crypto community saw history being scripted yesterday. The judge in the SEC-Ripple case gave a mixed verdict, but the main takeaway was the declaration of XRP as a non-security. The sales on exchanges; sales by employees; distributions to developers, charities, etc. were off the radar. However, the judge ruled that the institutional sales of the tokens violated federal securities laws. Nevertheless, this will be contested in court again during subsequent proceedings. The only thing the Court found constitutes an investment contract is past direct XRP sales to institutional clients. There will be further court proceedings only on these institutional sales per the Court’s order. — Stuart Alderoty (@s_alderoty) July 13, 2023 Also Read: Spot Bitcoin ETF ‘Rejections’ Might Not Stop BTC’s Bull Run: Why? Coinbase volume spikes: Courtesy XRP? On the heels of the landmark ruling, several exchanges started considering re-listing the asset. Coinb...

Also Read: Hinman Docs Reveal In XRP Case To Congressional Hearing; Why This Week Is Crucial For Crypto? A Turning Point In XRP Lawsuit? As per the court orders, Ripple and SEC filed a joint letter seeking one week extension until June 13, 2023, for the public release of the unredacted Hinman Speech documents. However, with speech linked memos, unredacted versions of cross motions for summary judgment of both parties will be made public. Finally, the Crypto industry will gain clarity that why then SEC Director of Corporation Finance, Bill Hinman concluded that Ether (ETH) was not a security. Attorney John Deaton, Amicus curiae in the XRP lawsuit suggests that June 13, 2023, will make it clear how strong or weak the SEC’s assertions linked to several specific sales stands. He highlighted that just the “offer” can violate Section 5 of the Securities Act. It is important to note that this appears to be the commission’s strongest argument in the case. Read More XRP News Here… ...

The Securities and Exchange Commission [SEC] has openly accused and classified numerous crypto currencies as securities. This notion gained traction particularly when XRP was labeled as such. Ripple, along with the XRP community, has been actively working to shed this classification, but the recent legal challenges have been perceived as detrimental to the altcoin. Crypto analyst Ali Martinez recently shared his thoughts on Twitter regarding the price of XRP. He praised the altcoin for managing to maintain a price above $0.50, despite the SEC’s lawsuits against Binance and Coinbase. This commendation came at a time when many other altcoins experienced significant declines in their value. The tweet highlights XRP’s relative resilience and stability in the face of challenging market conditions. However, he also pointed out how this might not last too long. He further added, “Although this may seem like a sign of strength for #Ripple, the crowd is well aware of it as mentions on social...

Also Read: Reports Reveal Ripple Purchased Bitstamp Shares In Q1 2023; But Why? advertisement XRPL Upgrade To Hamper Severs On Large Scale? An amendment tagged as “CryptoConditionsSuite” is intended to add support for several crypto conditions to be used in “EscrowCreate” and “EscrowFinish” transactions. However, this amendment was added to Rippled v0.60.0 before the implementation. It seems like validators are not in support of one of its adaptations which might lead to the blocking of a ton of servers. The servers that run on old “ Ripple d code’ are on the radar of being affected. An expert highlighted that the server must run on at least v1.10.0 in order to escape from the amendment blocked. However, the amendment was brought in to protect the accuracy of XRP L data. According to the data, more than 200 nodes and 15 validators are still running on the old “ Ripple d code” that will be directly impac...