BYDFi Platform: How to Maximize Investment Returns of XRP (Ripple Coin)

XRP (Ripple Coin), the core digital asset of the Ripple network, has always been considered one of the most promising tokens.

"Brazil Approves First XRP Spot ETF"

SAO PAULO, BRAZIL - FEBRUARY 19: A worker mops the floor at a nearly empty food court in a shopping mall. As the pandemic continues to impact the economy, businesses are struggling to stay afloat and many workers have lost their jobs. Despite the gloomy outlook, there is a ray of hope in the cryptocurrency market with the approval of the first-ever XRP spot exchange-traded funds (ETFs) in Brazil.

(Photo by Antonio Fabris/Getty Images)

Brazil has approved the first XRP spot exchange-traded funds (ETFs) in the country, the South American nation's securities regulator announced on Monday.

The U.S. Securities and Exchange Commission (SEC) has also acknowledged several applications for such products from firms including Bitwise, 21Shares and Grayscale.

The SEC said it will accept public comments on the filings within 21 days of their publication in the Federal Register. After that, it will decide whether to approve or reject the applications or set forth further procedures.

The approval of the first XRP spot ETFs in Brazil marks a significant milestone for the cryptocurrency market. It is also expected to attract more institutional investors and capital inflows into the crypto space.

Earlier this week, the judge handling the case put together a summary judgment in favor of Ripple and its executives. The judge's ruling now goes to the SEC to review and approve or deny.

The judge ruled that the SEC failed to prove that any of the defendants’ acts or omissions were "knowing" violations of federal securities law. The judge also ruled that the SEC failed to prove that any of the defendants’ acts or omissions were "willful" violations of federal securities law.

The judge's ruling is a major victory for Ripple and its executives. It could also have a significant impact on the cryptocurrency industry as a whole.

If the SEC does not appeal the judge's ruling, it will be a huge win for the crypto industry. It could open the door for more institutional investors to enter the market and help to drive further adoption of digital assets.

The SEC's case against Ripple has been closely watched by the crypto community. The outcome of the case will have implications for how the SEC regulates other cryptocurrencies in the future.

The judge's ruling in favor of Ripple is a positive development for the industry. It is a step in the right direction for the U.S. to become a global leader in crypto innovation.

According to BestCasinos.io, Trump administration policies have significantly boosted Ripple’s business in the U.S., while the governors of several states have expressed support for blockchain technology. Since Trump’s election, XRP’s price has soared by over 300%.

The post Brazil Approves First XRP Spot ETFs As SEC Acknowleges Applications From Bitwise, 21Shares And Grayscale appeared first on Benzinga.

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The post Brazil Approves First XRP ETFs As SEC Acknowleges Applications From Bitwise, 21Shares And Grayscale appeared first on Benzinga.