๐ Ripple has adjusted its U.S. On-Demand Liquidity (ODL) operations, opting for Tether (USDT) over XRP following a court decision regarding U.S. securities laws.
๐ This legal adaptation was disclosed in Rippleโs opposition to the SEC's proposed penalties and final judgment.
๐ In response to the court's ruling, Rippleโs President, Monica Long, announced the transition to USDT for all U.S.-based ODL services, emphasizing the importance of using legally approved stablecoins for future transactions in the U.S.
๐ข Crypto Eri shared this update on social media, echoing Long's emphasis on using compliant stablecoins for U.S. transactions.
๐ The company has shifted its focus to its Singapore subsidiaries, which now handle most new XRP sales contracts for ODL customers, primarily outside the U.S. This strategic shift aims to navigate U.S. regulatory constraints while sustaining international operations.
๐ผ Ripple's accounting expert, Anthony Bracco, calculated significant financial losses prior to the SEC lawsuit, underscoring Ripple's reliance on XRP sales for revenue and highlighting the economic impact of regulatory challenges on its operations.
