Is there any chance of counterattack after XRP is delisted by Grayscale? | Roast Star Selection

Recently, Grayscale, an encrypted asset fund, officially announced in its latest press statement that it is proceeding to dissolve the XRP Trust. Grayscale announced the liquidation of its XRP positions from its Digital Large Cap Fund a few days ago, citing the SEC's lawsuit against Ripple last month as the reason for the decision.

In response to the SEC’s actions, certain key market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, the statement said. There is no doubt that Ripple and the team behind Ripple may be suffering the biggest crisis since the team was created. The crisis stemmed from a lawsuit late last year.

On December 23 last year, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, along with company CEO Brad Garlinghouse and co-founder Chris Larsen, for issuing unregistered securities. Affected by this, Bitwise Asset Management issued a press release stating that its funds will liquidate all Ripple coins accounting for 3.8%. Since then, many fund companies, including Grayscale, have responded to Bitwise's approach, causing Ripple to plummet all the way.

How should Ripple under investigation get rid of the current crisis? First, the SEC filed a lawsuit against Ripple for issuing unregistered securities. The result of the ruling is still unknown, although Japan’s Financial Services Agency and the British Ministry of Finance have recently stated that Ripple is regarded as a cryptocurrency rather than a security, so Ripple supporters are generally optimistic about the SEC’s lawsuit. But investors also need to be aware that the large-scale liquidation of Ripple funds means that some traditional investors may no longer have access to invest in Ripple. So no matter what the result is, Ripple will spend a lot of energy and financial resources, and the uncertainty in the market is increasing.

Currently, the Sponsor has liquidated the Ripple Trust and intends to distribute the net cash proceeds to Trust shareholders, net of expenses and setting aside appropriate withholding reserves. Once the net cash is distributed, the trust will terminate.

On December 29, 2020, the cryptocurrency trading platform Coinbase issued a statement on its blog stating that it has decided to suspend Ripple trading on the platform. Up to now, Bitstamp, OKCoin (OKEx US station), Binance US station, and Bittrex have also announced the delisting of XRP trading.

It is worth noting that, unlike the SEC, the British Ministry of Finance recently released a report on cryptocurrency regulations, which does not regard Ripple as a security. It divides electronic tokens into three categories: tokens, security tokens and unregulated tokens. In the report, Ripple, Ethereum (ETH), and Bitcoin (BTC) were classified as exchange tokens, a subcategory of unregulated tokens.

In the short term, it will be extremely difficult for trading platforms with the United States as the main market to complete compliance construction. Bitcoin and Ethereum, which have already put on a legal and compliant cloak, may also fluctuate sharply due to the large-scale entry of institutions. Other tokens Whether it can gain a place in the traditional investment market is uncertain, and the road to compliance for cryptocurrencies is long and obstructed.

However, in just over ten years since the birth of Bitcoin, cryptocurrencies have continued to grow amid scams, bubbles, and criticisms of being worthless. Now they have become a new favorite in the investment market. The market value of Bitcoin alone has exceeded 6,600 With such a market size, it is difficult for regulators to ignore it. The U.S. regulatory policy has given an obvious signal to the market and investors, and it will be incorporated if it cannot be stopped, as evidenced by the gradual compliance.

The compliance road of cryptocurrency is long and difficult, but it will definitely go on in the game. The focus is "in the game". This is a process of ebb and flow. It is really uncertain who will make more concessions in the future .