XRP safe? Ripple lawyer dismisses government seizure claim
Ripple’s legal adviser Bill Morgan rejected speculations that the US government could seize the XRP tokens for the company’s entire accounts for national reserve purposes.
Morgan’s “no” “no” response to the claims of analyst John Squire concerning the potential confiscation of the Government of Ripple’s XRP holdings.
Technical transfer mechanisms exist but facial limits
The XRPL validator “VET” described a theoretical mechanism to transfer the XRP back to the government’s control without delay the planned versions. The process would imply defining the regular key to XRP entire accounts on a government -controlled address, allowing a complete transfer via a single XRPL transaction.
However, senior software engineer Ripple Mayukha Vadari noted significant limits with this approach. “Would not work if you only wanted to make a partial transfer, however – it is an all or nothing solution,” said Vadari, highlighting the inflexibility of the proposed mechanism.
The dry settlement process continues
Morgan has provided detailed updates on dry negotiations v. Ripple Settlement, which started with Ripple signing an agreement on April 23, followed by the approval of the dry on May 8. The parties succeeded in obtaining the approval of the court to hold out -of -suspend calls until June 16.
The settlement process has encountered procedural complications. Judge Torres initially rejected the first joint request from the parties due to technical errors. A second joint request dealing with the requirements of rule 60 was filed on June 12, requesting the appropriate approval of the courts for the conditions of settlement.
The agreed regulation reduced the fine of Ripple to $ 50 million and dissolves the injunction against XRP (Xrp) Sales. Once finished, the call and the intermediate call will be rejected, ending the multi -year dispute.
Legal experts note that the government seizure of cryptocurrency assets generally requires criminal driving or national security threats. Ripple’s dry civil affair does not provide reasons for confiscating assets, because the regulations do not recognize any criminal act.
The company’s entire structure, designed to ensure market stability thanks to controlled XRP versions, remains intact throughout the settlement process.
Ripple holds around 50 billion XRP in full -time accounts and releases up to 1 billion tokens per month depending on market conditions. This systematic approach has provided predictability for XRP markets and institutional users.
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