In connection with the removal of RIPPLE for the takeover of the national banking license, the American bank organs have published novel guidelines About cryptographic detentionwhich may soon apply to cryptographic companies. Pumpius cryptographic commentator also emphasized what this could mean for XRP and other cryptographic assets.
The novel cryptographic care may soon apply to ripple
In a press release, the Federal Reserve, the Office of the Currency Controller (OCC) and the Federal Corporation of Deposit Insurance (FDIC) noticed that the existing regulations, regulations and rules of risk management also apply to cryptographic care. Ripple was used In the case of a banking license, and if it succeeds, it will be regulated by OCC. As such, the guidelines are those that a cryptographic company should pay attention to.
The communiqué stated that banking organizations may ensure storage of cryptocurrency assets in trust or non -figuna capacity. A company like Ripple holds RLUSD and XRPwhich he uses to facilitate payment services. Therefore, there are cases in which the cryptographic company could accommodate clients’ funds as part of its activities.
The recognition of these cryptocurrency regulators also means a huge win for the cryptocurrency industry, given A gland surgery Under the Biden administration, which led to the deban of several cryptographic companies. Now cryptographic companies, such as Ripple, not only have the opportunity to care for their assets with other banks, but will be able to do it with a banking license on the horizon.
It is worth noting that OCC is to decide on the Ripple application within 120 days. It is also possible that the decision may take place earlier, taking into account the environmentally amiable environment for the cryptocurrency industry under the administration of Donald Trump. In the meantime, guidelines for banking bodies also give a greater legitimacy of a cryptographic company decision on its care Rlusd Reserves from Bny Mellon.
Why the principle of care is essential for XRP
IN X PostPumpius emphasized why these guidelines for banking bodies are essential for XRP, taking into account it It is associated with ripple and projections that at some point can play an essential role in banking. He noticed that this movement means that American banks can directly stop Altcoin for customers from retail to institutional.
The cryptographic commentator also indicated that this development is essential because the private book of Ripple, Bny Mellon Afustody and Rlusd are being built at the moment when XRP takes over bank rails. He added it Book of XRP It is “tested in the battle and the institution.” According to this, Pumpius stated that this is not just cryptographic adoption, but the institutionalization of XRP as “Ultimate Reserve Rail”.
At the time of writing this text, the price of XRP is around USD 3.08, which is over 5% in the last 24 hours, according to data with coinmarketcap.
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