XRP News: SEC Consideration of Commodity Classification and Ripple’s Dubai Breakthrough

In a move that could significantly impact the future of XRP, the US Securities and Exchange Commission (SEC) is reportedly considering classifying the cryptocurrency as a commodity during ongoing settlement talks with Ripple Labs. Additionally, Ripple has received a green light from Dubai’s regulatory body, unlocking new opportunities for crypto payments in the region.

US SEC May Declare XRP a ’Commodity’ as Ripple Settlement Talks Begin

The US Securities and Exchange Commission (SEC) is considering classifying XRP as a commodity in its ongoing settlement talks with Ripple Labs. According to FOX correspondent Charles Gasparino, the US securities regulators are using Ether as a benchmark to build a case for either classifying XRP as a commodity or maintaining its current classification.

Ripple Scores Dubai Green Light – DFSA License Unlocks Crypto Payments in the UAE

Ripple has secured a Dubai Financial Services Authority (DFSA) license, marking its first regulatory approval in the Middle East. This grants Ripple access to Dubai, a $400 billion financial hub known for its international trade dominance, to offer cross-border crypto payment services. The timing of this move is significant as the SEC inches closer to concluding its lawsuit against Ripple, which has been at the center of regulatory debates since 2020.

Crypto Pundit Claims XRP Will Hit $1,000

CryptoSensei, the founder of the Cryptonairz community, laid out ten key factors in a new video titled “THIS WILL GUARANTEE A $1000 XRP PRICE” that could significantly boost XRP’s adoption and market valuation in the coming years. These factors include regulatory clarity for XRP following the ongoing legal situation involving the US Securities and Exchange Commission (SEC) and Ripple Labs.

Ripple’s RLUSD Can Be Frozen to Comply with GENIUS Act

Ripple’s Chief Technology Officer (CTO) confirms that RLUSD stablecoin can be frozen to comply with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The bill, updated by Senator Bill Hagerty, requires stablecoin issuers to implement technology that allows seizing, freezing, or stopping transfers when legally mandated. Attorney Jeremy Hogan questioned the bill’s practical implications on social media.