The announcement last week by Ripple of a “major expansion of its presence across Brazil” should be viewed not just as a press release by a company but a broader sign of institutional digital asset adoption in one of the world’s fastest-growing financial markets. And that adoption will only accelerate if Trump ally and crypto friend Flávio Bolsonaro is elected president this Fall. According to Ripple’s announcement, Ripple will seek a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil (BCB). That accords to Brazil’s new virtual asset regulatory framework and also reflects the “compliance-first vibe” that has been Ripple’s hallmark over the company’s decade-plus history. With…
-
-
Backing Centigrade, Ripple Tries to Save Mother Earth
Fintech company bets on blockchain for carbon offsets
In the wake of Ripple’s historic David-versus-Goliath near-total victory over the SEC in July, those who follow the company are excused if they missed its announcement about its investment in Centigrade. But this move, seeking to establish an open data platform serving the market for global carbon offsets, sets a goal even more ambitious and improbable than prevailing against a government agency with infinite resource: Saving the planet. According to Centigrade, the new platform “will provide developers of carbon and nature credits with a low-barrier, intuitive way to bring their projects to market, providing full data transparency and traceability for the entire lifecycle of credits.” Carbon markets allow organizations to…
-
Obama Treasury official Michael Barr will not be Comptroller of the Currency (Photo: University of Michigan)Ripple advisor’s crypto connections kill appointment as banking regulator
Former Ripple Advisory Board member Michael Barr was too moderate and pro-crypto for progressives who blocked his nomination as Comptroller of the Currency
Barr was seen as part of a trio of crypto-friendly financial regulators nominated or under consideration by the administration of President Joe Biden. Former MIT digital asset and blockchain professor Gary Gensler is in the process of being confirmed as chairman of the Securities and Exchange Commission (SEC), while DC Fintech Week conference head Chris Brummer is said the be the choice to lead the Commodity Futures Trading Commission (CFTC).
-
Ripple Execs to SEC: Stay out of our bank accounts
Brad Garlinghouse and Chris Larsen accuse the Securities and Exchange Commission of seeking a ‘fishing expedition’ through their personal finances
“The SEC’s multi-front attempt to troll through the Individual Defendant’s personal financial information in a non-fraud litigation, where the Defendants have already agreed to produce the relevant information regarding the challenged transactions, is a wholly inappropriate overreach,” the pair’s lawyers said in March 11 filing.
