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Ripple Announces Its New Approach for Crypto Regulation Today

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  • Ripple is releasing a new crypto regulation approach today.
  • The new approach seeks to bring sanity due to the dynamic capabilities of crypto
  • Also, the company wants to be a hub for public policy education of crypto.

Ripple will introduce a brand new framework purposely for crypto regulation today. Dubbed as a “real approach to cryptocurrency regulation” to bring sanity to modern-day crypto-related activities.

Also, according to the report, this is an alternative approach that will ensure action-oriented measures against the robust capabilities of crypto and digital assets. Ripple seeks to offer this regulatory approach in a more practical and realistic manner.

Moreover, the company strongly believes that the best public policy can be acquainted literally through public-private collaboration, adapting existing regulatory frameworks, and supporting crypto innovation sandboxes. Naturally, all these are core priorities that should be well encouraged for policy making, as per Ripple.

Additionally, they also think that ensuring each of the abovementioned proposals will foster regulatory clarity to maintain consumer and investor protection in America.

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Commenting on this, Ripple CEO Brad Garlinghouse remarked that,

Cryptocurrency and blockchain technology need clear regulatory and licensing frameworks designed to address and remedy the specific challenges to our industry. All of the proposed measures discussed in this framework aim to provide legal clarity to industry, markets, and consumers in a way that a regulation-by-enforcement approach simply cannot.

To offer more and more synergies, Ripple said that they are open to welcoming any opportunities aboard to share expertise. They aim to do this by serving as a go-to source to inform and educate the emerging public policies towards cryptocurrencies. Never say never, Ripple has been so amazing all-around despite its ongoing SEC lawsuit.

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XRP Whale Withdraws 150 Million Coins from Binance

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whale

Another XRP whale moves his or her funds from the exchange, now storing $150 million in a private wallet

The transaction made only a few hours ago was one of the largest non-exchange transactions made on the XRP blockchain in the last few months, according to Whale Alert.

The $150 million transaction

According to the transaction page, an anonymous whale has moved 150 million XRP coins worth approximately $150 million from Binance exchange to an unknown wallet that is currently holding 150 million coins.

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Previously, the same wallet has been making small, insignificant transactions to various exchanges worth approximately $20-$30. The first large transaction has been made.

After receiving significant funds, the wallet spent approximately 100,000 coins by transferring them to UpBit exchange. The purpose behind such unusual funds redistribution remains undisclosed.

Ripple’s price action

Ripple’s price does not seem to consider major funds moving in a market with the price continuously moving in the same trend. The asset has broken the four-day uptrend by dropping below $0.98.

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XRP Daily Chart
Source: TradingView 

XRP was one of many victims of the global cryptocurrency market correction that took place on the market due to a rise of risk-off tendencies after the aggravation of the pandemic all over the world.

Previously, U.Today reported that numerous whales have made large transactions from various centralized exchanges back to their wallets. Such a trend is tied to overall outflows tendencies on the cryptocurrency market.

At press time, XRP is trading at $0.97 while losing 1.2% of its value. The price of the asset gained 6.2% in the previous local uptrend.

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XRP and Other Top Cryptocurrencies Now Accepted by Croatia’s Largest Supermarket Chain

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Crypto is becoming mainstream in Croatia because of Konzum

Konzum, the largest supermarket chain in Croatia, which was founded all the way back in 1957, has begun accepting cryptocurrencies in its online store, according to a Dec. 1 report by Zagreb-based newspaper 24sata.

The lineup of supported digital currencies includes Ether (ETH), Bitcoin (BTC), XRP, Stellar Lumen (XLM) and Bitcoin Cash (BCH), as well two stablecoins (Tether [USDT] and DAI).

Shoppers are now able to buy groceries, hygiene items, household supplies and other items with the aforementioned cryptocurrencies.

Konzum partnered with Croatian fintech company Electrocoin to use its PayCek system to facilitate crypto payments.

They spent several weeks testing the service before the official rollout in the run-up to Christmas.

Crypto is coming to Konzum’s physical stores

Crypto payments will also gradually become available in Konzum’s physical stores throughout the country.

The company will begin with 60 locations that have self-checkouts. After that, new payment options will be introduced in 630 stores of all sizes throughout Croatia.

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Why Brad Garlinghouse and Ripple (XRP) are Excluded from the US House Full Committee Hearing?

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On December 01, 2021, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced witnesses for the December 8 full Committee hybrid hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.

Reportedly, “Since becoming Chairwoman of the House Financial Services Committee, Congresswoman Waters has transformed the Committee to focus its agenda on fairness, protecting consumers and investors, which includes accountability of large financial institutions and emerging tech products and services. She has made it a practice to call Committee hearings with CEOs of major financial institutions and companies to hold them accountable.”

The Committee has been a leader in highlighting issues related to cryptocurrency and financial technology:

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US House Committee on Financial Services expressed:  Chairwoman RepMaxineWaters announces Cryptocurrency CEOs to Testify at Full Committee Hearing.

Witness List:  Witness List: Jeremy Allaire, CEO, Circle Pay; Sam Bankman-Fried, CEO, FTX.US; Brian Brooks, CEO, Bitfury Group; Chad Cascarilla, CEO, Paxos Global; Denelle Dixon, CEO, Stellar.Org Development Foundation; Alesia Haas, CEO, Coinbase Inc. and CFO, Coinbase Global Inc.

Denelle Dixon expressed:  Honored to testify at next week’s full committee hearing on digital assets and the future of finance. Thank you to Chairwoman

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Community Reaction:  Where is Brad Garlinghouse Ripple (XRP) this is disappointing that the most compliant abs transparent US based Cryptocurrency is not represented.

No Ripple? What a joke. Don’t think they’ll be involved in innovating the future of finance? Sad.

“Due to COVID-19, all markups and hearings will be in hybrid format. Members and witnesses may participate remotely via Cisco WebEx or participate in-person in room 2128 Rayburn House Office Building.”

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Covid is not the reason why Brad was not called.

Why is Ripple not invited?  Maybe they were invited but due to ongoing legal case they refused or couldn’t participate who knows?

I can just see certain CEOs are trying to bash other crypto instead of standing together.  Crypto Committee hearing without the multibillion Dollar Blockchain Decacorn and Global Player Ripple (XRP)

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The Ones that William be Testifying William be the ones who paid the entry fee.

Ok. So, this is basically a meeting to learn more about stable coins. *Noted.*

So many XRP fans roughed up realizing Stellar is a better protocol. Who will be translating to these dinosaurs.

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Why not invite Ripple? Politicians ruin everything they are involved with.

Other than Sam there is no single big player in this list. Seriously, term limits can’t be here any sooner.

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