Maker

Richard

Read

<div class="cryptonews">
 <p class="is-style-lead">Ripple has outlined the need for <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> <a rel="noopener noreferrer nofollow" title="clarity" href="https://thebittimes.com/tag/clarity.html">clarity</a> in the decentralized finance (defi) ecosystem.</p>
 <h2 class="wp-block-heading" id="regulatory-clarity-fuels-innovation">Regulatory clarity fuels innovation</h2>
 <p>Ripple, a blockchain payments protocol, and TRM Labs, a blockchain intelligence company, held an open discussion on the need for <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> certainty in digital assets. Among the key participants were representatives from the International Organization of Securities Commission (IOSCO) and the Monetary Authority of Singapore (MAS). The discussion was on <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> <a rel="noopener noreferrer nofollow" title="innovation" href="https://thebittimes.com/tag/innovation.html">innovation</a> as an essential tool for promoting responsible adoption.</p>
 <p>The borderless nature of decentralized finance faces one challenge: regulatory arbitrage. Lack of uniform regulations from different jurisdictions can create openings. The roundtable emphasized the need for a worldwide consortium and more data to be shared among regulatory bodies. This corresponds with the Commodity Futures Trading Commission’s (CFTC) focus on data as a critical element to reduce risks and achieve financial stability</p>
 <p>One major idea echoed in the discussion is “compliance by design.” The company says that integrating compliance requirements within defi protocols via smart contracts would simplify <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> procedures. This strategy seeks to lower <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> constraints, minimize costs, and boost the quality of financial products for end-users.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> XRP whale transactions spike 198% amid price slump to $0.51
 </div>
 <h2 class="wp-block-heading" id="ripple-s-response-to-exploitation">Ripple’s response to exploitation</h2>
 <p>Amidst these discussions, Ripple faced a setback as Chris Larsen’s personal wallet fell victim to a substantial hack recently. Binance CEO Richard Teng revealed the swift action taken to freeze the hacker’s address, showcasing collaboration between industry players.&nbsp;</p>
 <p>Larsen clarified that the breach targeted his personal accounts, not Ripple’s infrastructure or XRP token.</p>
 <h2 class="wp-block-heading" id="xrp-ledger-s-amm-feature-faces-challenges">XRP Ledger’s AMM feature faces challenges</h2>
 <p>Following the XLS-30D amendment introducing the Automated Market Maker (AMM) feature to the XRP Ledger, Ripple’s development team identified technical complications. Integration tests revealed potential delays in AMM transactions if trading fees fell below 0.01%. Ripple promptly addressed this issue, emphasizing their commitment to refining newly added functionalities.</p>
 <p>After the news of the hack broke on Jan. 31, the value of XRP dropped to $0.48, the lowest since Oct. 19 of last year.&nbsp;</p>
 <p>Investors with large holdings, often called whales, quickly changed their positions. Santiment’s Supply by Addresses tool shows a decrease from 1,986 wallets holding at least one million XRP on Jan. 28 to 1,958 wallets on Feb. 3. This hints that some big investors are selling or reducing their holdings.</p>
 <p>XRP’s current price is around $0.52, representing a 2.1% decline in the last seven days, according to data from CoinGecko.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Binance freezes $4.2m in stolen XRP
 </div>
 <p></p> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-outlines-how-regulatory-clarity-fosters-innovation-tbt78784.html">https://thebittimes.com/ripple-outlines-how-regulatory-clarity-fosters-innovation-tbt78784.html</a></p>

Ripple outlines how regulatory clarity fosters innovation

Table of Contents

TheBitTimes

Other articles published on Feb 3, 2024

Massive Transfer of SAND Tokens to Binance Raises Alerts

Environmental Watchdog Presses AI Industry on ChatGPT’s Hidden Costs Disclosure

RWA tokenization will bring huge opportunities — and sacrifices | Opinion

Solana Price Faces Brief Correction Post Recent Rebound

Bitcoin ATM Scam Warning Issued by Kenosha Police to Residents

Solana Opens Pre-Orders for Latest Smartphone with Attractive Rewards

Join our free newsletter for daily crypto updates!