Ripple, the company specializing in cross-border payment transfers, has announced that its liquidity hub product will no longer include XRP as an asset. Although Ripple provided a rationale for the decision, members of the XRP community believe that it was motivated by the company's anticipation of an SEC victory in the ongoing legal dispute.
Ripple has developed a ready-to-use platform for liquidity and international payouts, known as the Liquidity Hub, which is designed to meet the needs of corporations and enterprises. However, the recent removal of XRP from its list of supported assets has caused concern among XRP holders.
To address the concerns of XRP holders, the cross-border payment transfer company has offered an explanation. Ripple stated that they will evaluate XRP alongside other tokens once there is regulatory clarity. However, this statement has generated further questions within the XRP community, with some speculating that Ripple may be anticipating a defeat in the ongoing SEC lawsuit.
Commenting on this issue, lawyer Bill Morgan shared his perspective on Ripple's decision and the resulting Fear, Uncertainty, and Doubt (FUD).
According to lawyer Bill Morgan, although he is not familiar with the Liquidity Hub product, he believes that Ripple's decision to remove XRP is not related to its legal team anticipating a defeat in the ongoing SEC case. Instead, Morgan suggests that Ripple's legal team may be expecting a delay in the outcome of the lawsuit or for the case to go to trial, which could extend into 2024 or beyond.
This delay would mean that XRP remains in a gray area without clear regulatory guidance. Consequently, Ripple may have decided to minimize potential intervention from US Securities Laws in its Liquidity Hub product while awaiting further clarity on XRP's status as a security in the ongoing lawsuit.
Overall, the article discusses the recent decision by Ripple to remove XRP from its Liquidity Hub product, causing concern among XRP holders. While Ripple has provided an explanation for the move, some members of the XRP community speculate that it is related to the ongoing SEC lawsuit against the company. However, lawyer Bill Morgan suggests that Ripple's legal team may be anticipating a delay in the lawsuit outcome or for the case to go to trial, leading Ripple to minimize potential intervention from US Securities Laws in its Liquidity Hub product. The uncertainty surrounding XRP's regulatory status remains a source of concern for the XRP community, emphasizing the need for further clarity in the ongoing legal dispute.
#xrp #ripple #crypto2023 #Binance #dyor
Disclaimer: The information provided in this article should not be considered as trading advice. Crypto Daily Digest assumes no responsibility or liability for any investment decisions made based on the information provided on this page. We strongly advise readers to conduct independent research and seek the advice of a qualified professional before making any investment decisions. The use of the information presented in this article is at the reader's own risk.