Closing out 2023, Ripple scored an important regulatory victory, while major companies raced to get Bitcoin ETF approval from the SEC. Both events signaled big strides for the ever-growing crypto industry. Check out the full news below! Ripple's Regulatory Victory Ripple Labs Inc. managed to achieve a significant victory in its regulatory battle with the SEC. This victory is a bright spot amidst the long struggle faced by the American blockchain-based payments company. Ripple has shown resilience and adaptation to regulatory challenges, proving its commitment to legal compliance. This victory not only benefits Ripple, but also gives hope to the crypto industry as a whole. The win signals a possible positive shift in regulators' outlook towards crypto, which could pave the way for further innovation and growth in the future

Ripple's Internal Transactions and Their Impact

Ripple Labs recently completed an internal transfer of 70 million XRP, which caught the market's attention. This transfer, reported by Whale Alert, showed a transaction value of $43,171,395 at the time of the transaction. This shows Ripple's intense operational activity and may give an indication of the company's strategy going forward. This massive transfer did not raise concerns of bulk selling, as the assets were moved to a wallet activated by Ripple on October 2. This wallet, although new, has shown significant activity and now has a balance of 165.806 million XRP. These internal transfers are becoming a prominent trend and may define Ripple's operational activities.

The Bitcoin ETF Race and Its Impact on Regulation

While Ripple celebrates its victory, other companies like BlackRock and Grayscale are racing to get Bitcoin ETF approval from the SEC. The SEC has set a year-end deadline for companies that want to be part of the first wave of approvals. This shows the SEC's efforts to accommodate big players in the market while avoiding legal issues. The Bitcoin ETF approval will be an important milestone in the acceptance of crypto as part of mainstream investment portfolios. With regulatory changes likely after the US presidential election, 2024 is expected to bring significant developments in crypto regulation. Grayscale's recent legal victory may also influence future ETF decisions. Ripple's victory and the efforts of major companies in Bitcoin ETFs mark a positive year-end for the crypto industry. These events are not only important for the companies involved but also for the entire crypto ecosystem, which continues to look forward to regulatory developments that are more supportive of innovation and growth. Follow us on Google News for the latest crypto news. Turn on notifications so you don't miss out.