The Cruise Liner for 3000 people, ICO Contest and debates: what else is prepared by the big blockchain week?

LAW SIDE – DOWNLOAD THIS POST AS PDF

There is a dilemma in recent months if some specific cryptos like Ripple (XRP) should be classified as titles or not. This debate seems to have come to an end, and this is good news for the crypt. It seems that regulatory bodies are beginning to recognize the fact that cryptocurrencies can not function without blockchain. The two are connected and can not be separated if the decentralization has to be updated.

Ripple as a company marked a bit, finally, as that of Wednesday, August 29, his efforts to combine more cases presented against it have continued successfully.

A California High Court filed a lawsuit against Ripple (by an investor named David Oconer) as a "complex litigation", which means that the case will now be coordinated with other suits against Ripple (XRP), and not separately [19659003] So, this suggests that regulators could start realizing the reality of XRP and Ripple cryptocurrencies in general? We have good reasons to believe it, let's throw some light on a few things from the recent past.

So, in recent months, the cryptographic sphere has not been favorable to investors around the world, and the worst of all this is that investors are starting to have doubts because of the pending regulatory measures.

However, regulatory bodies also do not really understand the differences between blockchain and criptos and how they work. As a result, regulators are not yet certain about the encrypted to be regulated.

In the recent past, Sopnendu Mohanty, head of Fintech at the Singapore Monetary Authority, addressed central banks, international development officials and other participants in the G20 forum. He said that utility tokens or cryptocurrencies are a critical aspect of the decentralized system that should not be overlooked.

How Regulators Can Resolve the Pending Debate

Mohanty's statements came at a time when the discussion about how rules can be made and which ones are encrypted should be classified as titles have caused many arguments. The end of the debate and the restructuring of regulatory policies will benefit Ripple and the cryptographic market since cryptocurrencies are useful and are,

" Incentives and security models on which open transaction registration systems, without permission and censorship-resistance "

When regulatory bodies begin to understand the importance of crypts and how technically they are coordinated, then, they could start supporting these tokens.

And, of course, the only way to support these coordinated cryptos means to bring big regulations that improve their growth, which is the only way to solve the problem between the authorities and the use of digital currencies.

The point of view of regulators and the problem of Ripple

It is important to know that authorities and regulators are starting to understand blockchain and criptos than before.

They also know that these scrambled have real life problems that they want to solve. With this in mind, authorities and regulators can manage cryptos using anti-money laundering laws. Classifying them as security or does not seem obsolete.

In addition, regulators are making plans to portray Initial Coin Offerings as scams that investors need to be aware of.

On the other hand, an important issue A problem like that of Ripple is the debate about whether certain criteria need to be met before it can be listed on the major stock exchanges. With the fact that regulators seem to understand the reality of cryptocurrencies, therefore, it would be easier for Ripple's XRP to reach some milestones that seem unattainable.

SEC's view on ICOs and exchanges

The US SEC seems to be acting slowly with many exchanges and cryptocurrencies migrating to countries that are welcoming. However, as the authorities are gaining insight on blockchain and cryptos, there may be a reversal in the future.

SEC alone has defined what it means if a digital token is a security or not and regulators are making sure they are good policies. However, the recognition of regulators will promote the growth of the cryptographic market and will also bring back the trust that investors once had.

The difference between Ripple and XRP (again)

Recently, Ripple tried to let everyone know the difference between Ripple (the company) and XRP (its cryptocurrency). The statement was reported by The Hatch Agency, a company that represents Ripple. The company stated that

" Ripple is a technology company that solves the problem of cross-border transactions while XRP is an independent digital resource.The XRP register is the open source blockchain behind it."

Ripple's marketing strategist then added

" XRP is a digital asset that works alone and belongs to many people in many places We happen to own a lot of XRP – we have lots of money, chairs and computers – but the company is called Ripple and we sell software . "

The reason why the company decided to release these statements is that SEC has not added both Ripple and XRP in his June announcement on the position of Bitcoin and Ethereum. However, with the fact that regulators seem to be better informed about the reality of digital tokens now, it will be a relief for Ripple.

If authorities can probably proclaim Ripple as not a security, then, in fact, good news for investors.

Final words

Since regulators are starting to be informed about blockchain and criptos, and also taking the step to distinguish between safe and unsafe cryptids and cryptocurrencies, we may soon see a large crypts on the run. And, of course, Ripple's latest victory in California can be considered the first step in favor of the blockchain society

For the latest cryptocurrency news, subscribe to our Telegram!

Disclaimer: This article should not be taken as and is not intended to provide investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct a thorough research before investing in any cryptocurrency and read our full disclaimer

Photo by Natalia Figueredo on Unsplash

Source link