Ruling Provides Clarity on XRP’s Regulatory Status
– Flare Networks aims to bring smart contract functionality to networks like XRP Ledger.
– The recent ruling by Judge Torres clarified that XRP does not qualify as an investment contract.
– The ruling provided some clarity to Ripple and the wider crypto community regarding XRP’s regulatory status.
XRP’s Future Outlook
– Flare Networks CEO, Hugo Philion, anticipates a hard sell-off of XRP after the case.
– Regulatory uncertainty has hindered Ripple’s ability to develop the cross-border transaction market.
– Stablecoin providers have presented a viable alternative, slowing Ripple’s progress.
– Philion believes progress in cross-border payments will be slow due to increased suspicion in traditional finance.
– Efforts to develop new use cases for XRP will take time to bear fruit.
Hot Take: Ripple Faces Challenges in Cross-Border Market
Despite the recent ruling providing clarity on XRP’s regulatory status, Ripple is now behind in its work due to regulatory uncertainty. The company faces challenges in the cross-border transaction market, with stablecoin providers presenting a viable alternative. While progress may be slow, there are efforts to develop new use cases for XRP and the XRP Ledger. Overall, Ripple’s future in the cross-border market remains uncertain.
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