The New Law to Define XRP’s Legal Standing
Main Idea
The Digital Asset Market Clarity Act, currently under consideration in the U.S. Congress, aims to legally define XRP's status, potentially removing barriers to its price growth and broader adoption.
Key Points
1. The Digital Asset Market Clarity Act seeks to provide a legal definition for XRP, clarifying whether it is a security or commodity.
2. The XRP community views the bill as a critical milestone that could help XRP reach a price target of $5.
3. The Senate vote on the bill is expected in mid-September after Congress's August recess.
4. If passed, the bill could lead to the approval of around 30 XRP ETFs and open new opportunities for non-custodial tokenization.
5. Some community members are optimistic, while others remain cautious, noting that previous expectations of major developments have been delayed.
Description
The Clarity Act aims to provide legal clarity for cryptocurrencies like XRP. Experts anticipate increased institutional activity on the XRP Ledger with the bill's enactment. Continue Reading: The New Law to Define XRP’s Legal Standing The post The New Law to Define XRP’s Legal Standing appeared first on COINTURK NEWS .
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