Expert Claims Ripple Is Next to Secure Fed Master Account After Kraken Win— H...
The crypto industry took a significant step deeper into the traditional financial system on Wednesday after Kraken Financial, a Wyoming-chartered digital asset bank, was granted a Federal Reserve (Fed) master account. According to one expert, Ripple may follow suit. The approval makes Kraken Financial the first crypto-focused bank in US history to gain direct access […]
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Ripple CEO Garlington claims a “big win” in the dismissal of an SEC motion while remaining silent about the ruling on his own motion. Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs.Ripple argued that it was not given fair notice by the agency that it would consider the token a security, thus denying the company due process. Judge Torres denied the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit — in....
Software engineer Vincent Van Code has declared that Ripple will not be just a regular bank. He also alluded to the Fed Master application as one of the interesting aspects amid the crypto firm’s move to obtain a national trust charter. Why Ripple Won’t Be A Regular Retail-Style Bank Vincent Van Code stated that Ripple […]
Blockchain payment company Ripple, expressed support for the concept of a “skinny” Federal Reserve (Fed) payments account tailored for non-banking entities through its chief legal officer, Stuart Alderoty. This account could reportedly address concerns from traditional banks about financial stability and competitive risks. Ripple Seeks Fed Master Account In an interview with Reuters, Alderoty described […]
Custodia Bank, the popular crypto bank founded by Caitlin Long, has suffered another court setback in its fight for a Federal Reserve master account. Notably, the Wyoming-based institution failed to secure a favorable appeal ruling after an initial court rejection in March 2024. Related Reading: US Urges Global Regulators To Review Bank Crypto Standards Amid […]
Mt Gox customers can now formally make a claim against the defunct exchange, with the potential to receive their payout in bitcoin. The process is being overseen by exchange Kraken, appointed to assist Mt Gox's bankruptcy trustee Nobuaki Kobayashi last November. According to instructions posted on the Mt Gox homepage, account holders have until 29th May (Japan time) to fill out forms directly from the site, or open an account with Kraken and begin from there. The online claims process is available as the large majority of Mt Gox's 100,000 creditors live outside Japan, enabling them to....