Is the SEC going after Ripple because they have a fully working CBDC environment and central banks not yet? Report
, 2023-01-08 12:16:50,
- Ripple‘a budding CBDC ecosystem might be a target for the U.S. SEC.
- Ripple still has public support, as prominent personalities predict a favorable summary judgement for Ripple.
The SEC vs Ripple lawsuit has sparked an ongoing debate about the various reasons why the SEC might be after Ripple. One possibility might be linked to Ripple’s now functional CBDC platform, which gives the Ripple ecosystem a massive hedge over many central banks.
Although the SEC didn’t mention that Ripple’s connection to CBDCs was part of the reasons for filing a lawsuit against it, it will come as no surprise if Ripple’s CBDC platform is a threat to other central banks.
Raoul Pal, Former Goldman Sachs executive, makes a case for Ripple’s relevance in the industry, saying that Ripple has built a deep connection with global governments.
“I think if you lift the legal issue, the probability is that the value of the chain increases significantly and as the world moves towards central bank digital currencies, I think the XRP Network is going to be somewhere at the center of all of that, I know it’s not the flavor of the day for a lot of people but I think it’s a big player, it’s a real player and a real niche.” Pal explained.
Ripple’s private XRP ledger is designed for the deployment of central bank digital currencies. The platform offers management, transacting, mining, and…
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