Ripple Pledges Compliance with Law for XRP Sales
Ripple Labs has announced its commitment to maintaining regulatory compliance for its XRP sales as the ongoing lawsuit with the SEC enters the remedies phase. In its Q4 report, Ripple stated that it will adhere to the regulatory requirements related to XRP sales following its legal victory in July 2023, where the court ruled that XRP is not a security. The company acknowledged the court’s findings regarding historical XRP sales and revealed that it had already changed its approach to sales before the ruling. Ripple is determined to align its practices with legal standards and elevate compliance, ethics, and transparency in the crypto industry. It has also obtained licenses from various regulatory authorities.
Rewards for Validators on XRPL EVM Sidechain
Peersyst Technology CEO Ferran Prat Tió announced that validators on the XRPL EVM-compatible sidechain will receive rewards in XRP. This marks a departure from the traditional model of the XRPL, where validators are incentivized with XRP rewards. The sidechain will operate independently but connect to the XRPL through a bridge. Validators will be compensated in XRP for their contributions to the network, aiming to encourage participation and support for the EVM sidechain. Unlike the XRP Ledger, where transaction fees are burned, the sidechain will collect gas fees in XRP and redistribute them to validators.
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