Are you keeping up with the latest news in the crypto world? Well, you’re in for a treat because in March 2024, BRICS News announced the creation of an independent payment system based on cryptocurrency and blockchain technology. This new payment system aims to provide an alternative to the US dollar, which has caught the attention of the crypto community. Interestingly, there are speculations linking Ripple to this new payment system, which could have significant implications for the SEC’s decision-making process.
Speaking of the SEC, they have recently targeted the US digital asset space, issuing a warning about potential crypto scams. This warning came shortly after the SEC issued a Wells Notice to OpenSea, a popular NFT marketplace, alleging that some NFTs on the platform are considered securities. This renewed scrutiny from the SEC has sparked discussions among pro-crypto individuals, including lawyer Fred Rispoli, who raised concerns about the agency’s actions.
As the US primaries approach, the battle for crypto’s future is heating up, especially in the upcoming Massachusetts primary where CryptoLaw founder John E. Deaton is going head-to-head against Senator Elizabeth Warren. Deaton has been vocal about Senator Warren’s stance on innovation, particularly in relation to the recent Custodia Bank layoffs. The outcome of this primary could have significant implications for the crypto market moving forward.
Senator Warren’s stance on cryptocurrencies has been a topic of debate, especially following her close ties with JPMorgan CEO Jamie Dimon. The Senator has been vocal about the need for stricter regulations in the crypto space, while Dimon has expressed strong anti-crypto sentiments. However, a victory for Deaton in the upcoming primary could potentially shift the regulatory landscape and weaken Gensler’s war against crypto.
For XRP investors, the uncertainty surrounding the SEC’s appeal plans in the Ripple case is a key factor to watch. Depending on the SEC’s decision to appeal or not, the price trends of XRP could fluctuate significantly. If the SEC decides to challenge court rulings, XRP could see a drop below $0.40. On the other hand, if the SEC chooses not to appeal, XRP could potentially return to $1.00, similar to the surge after the Programmatic Sales of XRP ruling.
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