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šŸ’„XRP Lawsuit: Veri DAO Files For Amicus Supporting RipplešŸ’„
XRP lawsuit Veri DAO: SEC Vs Ripple case continues to see various entities trying to file amicus briefs supporting Ripple in the XRP lawsuit.
November 03, 2022
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The SEC Vs Ripple case continues to see various entities trying to file amicus briefs supporting Ripple in the XRP lawsuit. In a latest, Veri DAO filed a request to submit an amicus brief in theĀ SEC Vs Ripple case. The long pendingĀ  case is currently in the summary judgment phase. Veri DAO requested the court’s permission to file an amicus brief addressing Ripple’s motion for summary judgment.

XRP Lawsuit Veri DAO – Amicus Curiae

Defense lawyerĀ James FilanĀ said Veri DAO filed a motion to file an amicus brief in the XRP lawsuit. Veri DAO is a decentralized autonomous organization composed of professionals from various industries. The DAO claims to be a group of people passionate about the potential of peer to peer capital markets and the disintermediating of financial systems for the benefit of inventors and innovators. Interestingly, the Veri tokens team had in 2019 faced SEC action.

ā€œThe members of Veri DAO have the unique experience of being downstream, unaffiliated, and secondary holders of a digital asset in which certain central persons were sued by the SEC. The fallout of such SEC action has left downstream, unaffiliated holders of Veri tokens with no confidence or guidance on what they can legally do with their digital assets.ā€

The Wider Implications

Veri DAO said that through its amicus curiae brief, it would assist the court in understanding the broader implications of its decision on those involved with cryptocurrency.

Earlier on Wednesday, another crypto firmĀ Cryptillian asked for court to file amicus briefĀ in the XRP lawsuit. Cryptillian Payment Systems is an online digital wallet service for retail customers and commercial retail businesses using XRP. Prior to this, top crypto exchange Coinbase asked the court to file amicus briefs in the XRP lawsuit. The exchange sought to support motions for summary judgement submitted by Ripple.

Meanwhile, the lawyers on XRP holders’ side said that there will be not be any ruling until November 18, 2022. As of writing, XRP price stands at $0.457, up 1.03% in the last 24 hours, according to price tracking platformĀ CoinMarketCap.

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Source: The Dinarian ⚔ Claude AI

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Ā 

Ecosystem Success Stories: How the Soroban Audit Bank Drives Security Forward

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Ā 

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Get Started Today

If you're already funded through the Stellar Community Fund,Ā meet the criteriaĀ and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contactĀ [email protected].

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
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šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

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Santander mulls stablecoin, crypto offering

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Santander’s involvement could extend beyond an individual initiative. The bank is a shareholder in The Clearing House, where the Wall Street Journal reported thatĀ US banks are exploringĀ the potential to create a joint stablecoin. If a US initiative took that route it could involve nine more G-SIBs including Bank of America, Barclays, BMO, BNY Mellon, Citi, HSBC, JP Morgan, TD Bank and Wells Fargo.

Apart from these initiatives, our research shows that more than 20 other banks have been involved in stablecoin projects.

Until recently stablecoins were mainly used to settle cryptocurrency transactions and by residents in countries with volatile domestic currencies. During the last yearĀ stablecoinĀ infrastructure has been expanding, especially for mainstream cross border payments. Plus, President Trump issued an executive order prioritizing stablecoins. One of the administration’s motivations is this increases demand for US Treasuries,Ā lowering the interest rateĀ the government pays on the Treasury bills.

Santander as an early digital assets mover

Santander’sĀ stablecoin consideration builds on years of blockchain experience. The bank was an early Ripple investor and previously used Ripple’s permissioned network for payments (not XRP), while also embracing permissionless blockchain activities including issuing aĀ digital bond on EthereumĀ in 2019. This dual approach led to collaborations with other major players – alongside Societe Generale FORGE and Goldman Sachs, Santander participated in theĀ European Investment Bank’s first digital bond, also on Ethereum. Currently, the bank’s most significant digital money initiative involves Fnality, the wholesale blockchain-based settlement network, where Santander ranks among 20 institutional backers and is part of the early adopter group alongside Lloyds Bank and UBS.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ The Dinarian

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