Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 3-19-25
Good Afternoon Dinar Recaps,
BIG BREAKING: SEC DROPS XRP CASE, RIPPLE CEO CONFIRMS
The SEC drops its lawsuit against Ripple after four years, marking a major legal victory for XRP and the crypto industry.
Ripple CEO Brad Garlinghouse calls the SEC case a "flawed attack on crypto" as regulators retreat from their claims against XRP.
After more than four years of legal battles, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple Labs (pending vote of the commission).
The case, which was filed in December 2020, accused Ripple of conducting an unregistered securities offering by selling XRP.
Ripple’s CEO, Brad Garlinghouse expressed relief and pride as he reflected on the outcome. “It’s over,” Garlinghouse said, explaining how the case marked a pivotal moment in the ongoing struggle for clarity in the cryptocurrency industry. “Looking back on four years ago, it’s clear to me that this case was flawed from the start. It was the first major shot fired in the war against crypto.”
Garlinghouse went on to explain that, while Ripple faced huge challenges, the company always believed it was on the right side of history.
“I knew we weren’t on the wrong side of the law, and I believed we’d ultimately be proven right. Today’s outcome is a victory for innovation and a long-overdue surrender by the SEC under Chairman Gary Gensler.”
This decision is seen as a major win for the cryptocurrency industry, as it represents the first successful fight against the SEC’s broad interpretation of securities laws applied to digital assets. Garlinghouse credited Ripple’s resources, determination, and grit for pushing back against regulatory agencies.
For many in the crypto community, the SEC’s action was seen as an effort to intimidate the industry, using arguments that they claimed were meant to protect investors but ultimately did more harm than good.
As the crypto industry continues to grow, Ripple’s victory signals a turning point in regulatory efforts, reinforcing the need for clearer guidelines that support innovation without stifling progress.
@ Newshounds News™
Source: Coinpedia
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DUBAI LAUNCHES TOKENIZATION SANDBOX
The Dubai Financial Services Authority (DFSA) has launched a tokenization sandbox and is accepting expressions of interest through to April 24. The DFSA is the regulator for the Dubai International Finance Centre (DIFC).
Applicants could be involved in the issuance, trading, holding, or settlement of tokenized assets. Cryptocurrencies are excluded along with stablecoins. The financial instruments that are tokenized should be similar to conventional securities including equities, bonds, sukuk and collective investment fund units.
As with most sandboxes, the aim is to relax certain regulatory requirements under the supervision of the regulator. Hence, it’s open to companies whether or not they are already DIFC-regulated. If accepted they will be granted a special Innovation Testing License (ITL) that will last from six to twelve months. It appears that the rule relaxations might be assessed on a case-by-case basis. At the end of the ITL period, the entity either will be awarded a full DIFC license or the ITL license will be terminated.
The program supports live market testing and helps firms to clarify the tokenization requirements in the DIFC.
Tokenization rules were introduced in the DIFC in 2021. They support trading by consumers without intermediaries but access must be permissioned, although this doesn’t necessarily rule out the use of a public blockchain.
Tokenization regulations include some additional requirements compared to conventional securities, including informing the DFSA regarding custody arrangements and technology audits.
@ Newshounds News™
Source: Ledger Insights
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LIVE UPDATES: FED LEAVES INTEREST RATES UNCHANGED, BUT FORECASTS FUTURE CUTS
The Federal Reserve took a wait-and-see approach to an uncertain US economy Wednesday, opting to leave interest rates unchanged at the close of its March meeting.
That decision leaves the benchmark federal funds rate parked at a range of 4.25% to 4.5%, where it has sat since December. The Fed has now stood on the economy’s sidelines for two consecutive meetings, dating to January, after an unusually busy period of interest rate increases and reductions over the previous three years.
The Fed also kept its forecast for two cuts in 2025.
"We do not need to be in a hurry to adjust our policy stance, and we are well-positioned to wait for greater clarity," said Fed Chair Jerome Powell during a news conference. In Powell's remarks, "clarity," or the lack of it, emerged as a recurring theme.
@ Newshounds News™
Source: USA Today
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