XRP to $500, SEC Loses Lawsuit, Senate Confirms XRP System | Ripple/XRP Ready for US Dollar COLLAPSE

today we have something very exciting to share with you all did you know over the year ripple's xrp values surged to more than 35 000 what is going on in ripple are stable coins a better fit for cross-border payments stay with us till the end to not miss important news but first we are giving away 25 at the end of the month to one random subscriber to start on their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comments section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe the first and the most important news is that ripple's first odl service implementation in japan is paving the way for greater adoption of crypto enabled services in the asia pacific aside from saving money the two companies can also expand their own payments businesses by using xrp to eliminate pre-funding in a project for remittance payments from japan to the philippines sbi remit the largest money transfer provider in japan in a subsidiary of ripple shareholder sbi holdings has gone live with ripples odl customer remittance options have been improved through a partnership with mobile payment service coins and digital asset exchange platform sbivc trade philippines diaspora one of the largest in the world has a high demand for affordable remittance services migrants from japan to the philippines are increasingly sending money home to support their families with annual transfers reaching 1.8 billion dollars ripple which helps remittance services leverage the digital asset xrp to eliminate pre-funding said japan 10.50 has one of the highest remittance costs in the world almost twice as much as the average for all g8 countries 5.92 percent we believe that blockchain technology has the potential to transform not only the way payment transactions are conducted but also the way we manage our business by releasing trapped capital with the recent launches in cambodia and vietnam ripple and sbi holdings have formed a joint venture called sbi ripple asia to introduce xrp powered remittance services across the region while this is going on a major development in the sec versus ripple lawsuit has occurred william hinman the former scc director of corporation finance was deposed by the sec judge sarah netburn allowed the former high ranking government official to testify under oath but the deposition was not a public hearing ripple's motion for summary judgment on fair notice is likely to include his statements this seems that sec is losing the game in a letter to janet yellen senator elizabeth warren urged her to identify and mitigate the risks associated with cryptocurrencies as well as to create a comprehensive and coordinated framework for federal agencies to use in regulating virtual coins member of the senate banking committee and a longtime critic of the nation's largest banks warren urged the treasury secretary to use her influence on the financial stability oversight council to create a safer crypto market in an open letter to yelen massachusetts democrat wrote fsoc must act swiftly to use its statutory authority to address cryptocurrency's risks and regulate the market to ensure consumer safety and stability customers the environment and our financial system are at risk as the demand for cryptocurrencies continues to grow and these assets become more integrated into our financial system she added an unregulated crypto market poses five risks according to warren the banking industry faces a variety of risks because of the unique threats that stable coins pose financial system disruption is caused by cyber attacks as of press time cnbc's request for comment was not immediately answered by a treasury department spokesperson a senate banking committee hearing titled cryptocurrencies what are they good for was underway when warren sent her letter cryptocurrencies and other digital assets do pose significant risks at present walsh told lawmakers in a written statement her twitter bio states that she advises followers to own no cryptocurrency warren's letter is the latest in a series of recent calls from capitol hill for stricter market regulation in february lawmakers from both parties grilled executives from robin hood reddit citadel securities and gamestop about the gamification of stock trading regulation of crypto markets has proven to be more difficult due to their sheer number of assets in their novelty a final decision on who will be responsible for crypto trading's day-to-day oversight is yet to be made by the fsoc sec our congress warren likely sent her letter to yellen because of her position on the fsoc after the 2008 financial crisis the treasury secretary founded the financial services oversight council fsoc which consists of 10 federal financial regulators including the federal reserve and securities and exchange commission because there is no single regulator responsible for monitoring and addressing overall financial stability risks the fsoc's job is to identify those risks and coordinate a regulatory response across cabinet departments and other agencies the securities and exchange commission sec under gary gensler's new leadership is considering whether to approve exchange traded funds that track bitcoin's performance gensler has said that crypto exchanges should be subject to investor protections a central bank digital currency is being considered by the federal reserve congress according to republicans on the senate banking committee should better understand the potential uses of cryptocurrencies while keeping illicit activity under control so-called stable coins or digital currencies pegged to national currencies such as the us dollar are being studied by toomey and lemus for their value in potential applications not only this in the field of central bank currencies the swiss national bank snb is continuing its experiments cbdc's in collaboration with the french central bank project jura is studying cross-border payment processing for this reason the g20 has made improving cross-border trade a top priority an important contribution to this work has been made by the current experiment according to project jura wholesale cbdcs could increase the speed efficiency and transparency of cross-border use cases by collaborating with other wholesale cbdc's public goods experiments are supported by the bank for international settlements bis to digital power currencies ripple is testing a private version of its xrp ledger central bank digital currency cbdc private ledger uses the same blockchain technology as xrp ledger allowing it to handle tens of thousands of transactions per second tps and potentially scale to hundreds of thousands over time according to a new ripple announcement it is estimated that 80 of central banks are looking into the potential of sovereign-backed cryptocurrencies according to the san francisco-based payment company with billions of dollars on the line the xrpl has been running smoothly for more than eight years and has been profitable in other words the cbdc private ledger offers the best of both worlds transaction privacy security controls and payment proficiency this ledger is also more energy efficient cheaper and 61 000 times more effective than public blockchains that rely on proof of work ripple says the cbdc private ledger will verify transactions using the same consensus protocol as xrpl swift continues to adapt to the technology challenges posed by fintech and alternative networks and methods for the cross-border space as the bank cooperative evolves to deliver broader services as evidenced by this announcement posted on fenextra after the transition to iso 2022 the legacy network will be phased out under the swift go initiative this was followed in 2020 by the pivot to transaction banking support services although no data is available on the success of this initiative we assume a reasonable take-up rate given the thousands of institutions in swift's ecosystem swift go across border remittance service for consumers and small businesses has just been launched by the company the banks are putting a stake in the ground to let money transmitters and fintech know that they will not continue to seed this space in peace to them on the other hand the bis and regulatory bodies are placing a great deal of emphasis on cross-border payment improvement in any case we haven't been briefed but we expect swift gpi to be the network with a layer of services added on top of that in the thriving cross-border payments market expect more innovations xrp is a cryptocurrency that is gaining in popularity the coin gained more than 15 after ripple labs announced a major deployment of an on-demand liquidity odl service in japan although the sec and ripples ceo were involved in legal battles the price of ripple reached a new high in 2021.

Xrp a fast and less expensive cryptocurrency can easily attract investors by the end of the year and a bullish market can drive its price to the 1.443 mark according to primext the price will hit four dollars by the end of 2021 and 22 dollars by the end of 2022. interestingly the platform predicts the price will plummet in 2023 crashing to nine dollars and then rebounding to fifty dollars by 2024.25 according to the platform by the end of the year trading beasts expects the price to reach 1.112 an increase of 36.58 percent are you an xrp holder if you want to continue to know about xrp we have got two videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video my friend kindly note that prices of cryptocurrencies frequently change so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice and you should not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered financial advice do conduct your due diligence and consult your financial advisor before making any investment decisions [Music] you

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