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Ripple and Dogecoin investors rush to draw coin pre-sale

As Ripple and Dogecoin investors look for new opportunities, Raffle Coin (RAFF) emerges in its pre-sale phase, attracting huge interest with its $0.020 Stage 1 tokens.

Ripple’s Effect on Regulatory Reform

As Rep. French Hill said, the recent “ruling” against the SEC “in a court of public opinion” shows the need for SEC regulatory reform. This development will expose the commission’s regulatory overreach and the impact it would have on the cryptocurrency industry.

During a hearing on Capitol Hill, Rep. Hill delved into the SEC’s loss in a case involving Ripple Labs, with a federal court finding that the company did not violate securities law by offering Ripple. This decision marks a significant victory for Ripple and sparks debate about the need for reform within the SEC.

Dogecoin Navigates Market Volatility

However, in light of market fluctuations, Dogecoin continues to be a topic of discussion among investors. As they say, during ups and downs, Dogecoin’s current trading price and market indicators raise doubts about whether this asset is quite good for investment.

Analysts say they are cautiously optimistic as Dogecoin navigates uncertain economic conditions while awaiting macroeconomic developments. Although Dogecoin has reduced its value in recent sessions, its resilience and potential to be among the winners in the future are remarkable.

Raffle Coin becomes important in the definition

In these market uncertainties, the pre-sale of Raffle Coin (RAFF) gives an opportunity to the investor. It offers many uses and benefits in the ecosystem; Therefore, Raffle Coin defines the way we conduct a giveaway by interacting with decentralized platforms. Easy to use, with instant withdrawals and a wide variety of prizes, Raffle Coin democratizes giveaways. The Raff token has been fully approved for audit and the locked liquidity will give confidence to investors.

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Ripple CTO David Schwartz Reveals Unexpected Truths About XRP Distribution and Supply

David Schwartz, Ripple’s Chief Technology Officer, recently shared his views on the company’s strategy regarding its XRP holdings. These revelations provide a better understanding of Ripple’s approach to managing its cryptocurrency holdings.

Ripple’s XRP Allocation

Ripple’s XRP assets are divided into two different categories. The first includes the XRP currently available in Ripple wallets. The second category includes XRP in escrow on the ledger, scheduled for release in the coming months. However, it is important to note that Ripple does not have immediate access to custodial XRP until its scheduled monthly release. In the past, a significant portion of the released XRP was returned to escrow.

XRP Holdings Decisions and Strategies

Responding to a user’s query, Schwartz explained Ripple’s options regarding its XRP holdings. In principle, Ripple can either maintain its current XRP holdings or choose to reduce them. According to Schwartz, the company planned to reduce its XRP holdings as quickly as possible. However, he questions the feasibility and potential benefits of this original strategy.

Initially, the company considered using giveaways to reduce its supply of XRP. But as XRP gained market value, there was a chance that people would take advantage of these freebies, which led to their discontinuation. Ripple has also explored alternative methods, such as B. Locked Sales and using XRP to incentivize affiliates. Ultimately, however, these strategies were similar to selling XRP directly.

Long-term vision and trusting decisions

Schwartz noted that, despite being over a decade old, Ripple is making good progress on its initial five-year plan. He also answered questions from the community about managing deposited XRP. Additionally, Schwartz expressed ambivalence toward the escrow account itself, rejecting the idea of burning the escrow stock on the grounds that it might lead to a different outcome.

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Ripple explains why companies are looking for solutions amid economic uncertainty

Global businesses face significant headwinds as cross-border payment volumes have recovered to pre-pandemic levels while facing the looming challenges of rising interest rates. Amid these complexities, Ripple Labs’ latest insights into the changing economic landscape reveal its cryptocurrency-based payment solutions as a countermeasure.

Main problematic points of the economic scenario

In its recent exploration, Ripple delved into the repercussions of rising interest rates, focusing on its impact on both banks and global businesses. The New Value Report 2023 states that “nearly half of the companies surveyed cited high interest rates as the main challenge for cross-border payments.”

With a diverse global impact, changes in interest rates can put pressure on companies, regardless of their geographic base.

Three crucial points are included for companies in the current economic environment. First, there are currency fluctuations that harm growth. According to Ripple, the intertwined relationship between cross-border payments and local currency conversions cannot be ignored.

The Ripple report emphasizes how interest rate increases could increase the “chances of price instability” and worsen the unpredictability of international transaction costs. They noted the potential for higher losses and stated that “this potential for higher losses may discourage investment activity and economic growth.”

Secondly, fintech highlights the rising cost of credit worldwide and the reduced liquidity situation. A 2022 C2FO survey highlighted in Ripple’s keynote highlighted that a bank’s line of credit or term loan remains the predominant source of working capital for most businesses.

This liquidity supports the efficiency of cross-border transactions. But there is an alarming note of caution: “as interest rates rise, so does the cost of borrowing, resulting in a reduction in overall liquidity in the financial system and higher cross-border transaction expenses.”

Third, Ripple addresses unequal access to financial services. Regional disparities in interest rates can inherently lead to inequalities in access to essential financial services, such as cross-border payments, especially for growing businesses or in developing economies.

Ripple highlighted the pressing challenges faced by companies in regions with high interest rates, which often hinder their ability to engage in international trade or explore markets.

Advantages of Ripple payment solutions

Given the aforementioned challenges, Ripple is pushing the narrative that blockchain can emerge as a quintessential resource for reliable, efficient and globally accessible payments.

Your justification? Deciphering and debunking common crypto myths and harnessing the potential of “blockchain-enabled payments” could allow businesses to offset liquidity impediments created by rising interest rates. This extends to a variety of payments: from global treasury payments to supplier agreements.

Ripple defends its cryptocurrency-based payment solutions by highlighting key features: “With Ripple Payments, customers can access greater working capital with reduced pre-funding requirements, upfront pricing, and no hidden fees.” These solutions promise to settle transactions in seconds, with an almost non-existent failure rate.

Furthermore, the versatility of Ripple’s solutions is manifested not only in reducing costs and increasing efficiency, but also in paving the way for business expansion. A compelling claim made by Ripple is the ability for companies to “leverage a payments network that represents more than 90% of the foreign exchange market,” making it easier for companies to venture into new payments corridors, even those considered challenging.

Given the strong growth of the sharing economy (with projected outlays reaching a staggering $298 billion by 2023 and a freelance workforce of 915 million), micropayments’ importance and geographic reach becomes even more pronounced.

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Ripple applies for UK cryptocurrency license

Ripple has applied for registration as a cryptocurrency company with the UK Financial Conduct Authority (FCA) following its partial victory against the US SEC.

Payment Protocol Ripple recently applied for registration as a cryptocurrency company with the UK’s Financial Conduct Authority (FCA), a company spokesperson tells Cointelegraph. The company is also seeking a payments license in Ireland as part of its major investment in the region.

More cryptocurrency companies are looking to the UK for regulatory clarity and a favorable business environment amid a wave of enforcement actions by the SEC in the US.

Venture capital firm Andreessen Horowitz (A16z) recently announced its first new non-US office in London, following “months of constructive discussions” with policymakers and the FCA, citing a “predictable business environment” as one of the main reasons for expanding abroad.

Several pieces of legislation have been introduced in the British Parliament with the aim of establishing a crypto-regulated environment in the UK. In June, a bill subjecting cryptocurrencies to the same rules applied to traditional assets was enacted after receiving royal assent from King Charles. The new law gives the Treasury, the Financial Conduct Authority (FCA), the Bank of England and the Payment Systems Regulator the authority to introduce and enforce regulations for crypto companies.

In another recent development, upper house lawmakers discussed a bill that seeks to expand authorities’ ability to target cryptocurrencies used for illicit purposes. The bill includes provisions for authorities to have greater flexibility in the confiscation and recovery of crypto assets.

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Coinbase Wallet Stops Support For Ripple (XRP), Bitcoin Cash (BCH)

Coinbase Wallet News: Citing low usage, Coinbase Wallet announced it will no longer support assets like Ripple (XRP) and Bitcoin Cash (BCH) among others. The team announced December 5, 2022 as the deadline to stop support for a total of cryptocurrencies. Users will be able to access their holdings in these assets through the Coinbase Wallet recovery phrase, it said. With this, these networks will lose support to access Dapps on the networks.