Regulatory intervention “thrilled” Ripple; XRP may have no correlation to Bitcoin [BTC] in future
Ripple, the U.S. tech company producing XRP token, welcomes possible government regulation to set up as a start-up providing financial services. Ripple envisions to expand its presence through its business and brand, worldwide. Ripple is working towards attaining this goal by preparing itself to establish working terms with the regulators.
In an interview with Fox Business, the chief marketing strategist of Ripple, Cory Johnson has given his opinions on regulations. He has stated that intervention of regulatory framework may work as an advantage for the company. He has also mentioned being “thrilled” with the decision of the regulators to intervene in the crypto domain.
According to his statement, “One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”
BitLicense has given permission to Ripple for selling subsidiary XRP II. The selling is directed towards institutional investors and firms which results in an upsurge in sale. The Q2 report of 2018 has given this information on the company despite encountering a drop in XRP sale.
According to the Cory, the regulatory body would ensure a “safer” environment in the crypto domain. However, there is always a possibility that too much of government intervention may disrupt the innovation in the entire crypto space.
Referring to the approach and understanding of U.S. for the digital currency, Johnson has given his views. According to him,“A lot of other countries are moving faster than the U.S. to try to provide really clear lanes of where businesses can act — what’s right and what’s wrong.”
XRP – Bitcoin [BTC] valuation
In the current crypto market scenario, the Bitcoin [BTC] value is flickering at $8190. The crypto coin has experienced a leap from a level of $5800 to $8500. Despite, major changes in the valuation of Bitcoin [BTC] that lay impact on the entire market, XRP price remained almost unchanged.
Furthermore, when the market is witnessing a downfall due to the SEC rejection of Winklevoss twins’ ETF application, XRP surprisingly has experienced slight change. This suggests that in future XRP valuation maybe linked to the currency’s intrinsic value. This would result in having no correlation to the valuation of other cryptocurrencies including Bitcoin [BTC].
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