HSBC, one of the world’s largest banks, announced its plans to launch a digital asset custody service focused on tokenized securities, in partnership with Swiss-based crypto custody firm Metaco. See related article: SEBA crypto bank receives license in Hong Kong Fast Facts HSBC will work with Ripple Labs-owned Metaco on the custody service, which is expected to launch in 2024, the bank said in a statement on Wednesday. The new platform will complement HSBC Orion, an issuance platform for digital assets and tokenized gold, that was launched on Nov. 4. HSBC Orion uses distributed ledger tec ..read more

Ripple Labs, the San Francisco-based payments firm, has partnered with South African fintech company Onafriq to expand remittance payment capabilities in Africa and across its borders with the Gulf Cooperation Council (GCC), the U.K. and Australia.   See related article: Sam Bankman-Fried found guilty on all charges Fast Facts The collaboration will open three new blockchain-based payment channels between Onafriq users in Africa and three of its partner firms, namely U.K.-based fintech firm PayAngel., Abu Dhabi-based digital Wallet Pyypl that serves users in the GCC and Australia-ba ..read more

The XRP token has been approved by the Dubai Financial Services Authority (DFSA), allowing firms in the Dubai International Financial Centre (DIFC) to incorporate the cryptocurrency into their virtual asset services, Ripple Labs, the San Francisco-based payments firm announced Thursday. See related article: Sam Bankman-Fried found guilty on all charges Fast Facts XRP’s approval will enable institutions located in the DIFC to use the cryptocurrency for global value transfers, Ripple said in a press release. XRP joins Bitcoin, Ether and Litecoin as cryptocurrencies approved by the DFSA. “Duba ..read more

The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple Labs  Chief Executive Officer Brad Garlinghouse and Executive Chairman Chris Larsen, according to an Oct. 19 court filing. See related article: XRP triumphs over SEC, but crypto clarity remains in the shadows Fast Facts: The SEC will no longer pursue claims that Ripple’s Garlinghouse and Larsen aided the company in violating securities laws related to its XRP transactions. According to Thursday’s filing, the parties agreed to voluntarily dismiss the aiding and abetting charges with prejudice, meani ..read more

The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data.  See related article: HK’s SFC & US SEC crack the whip as Blockchain Week rocks Manila Fast Facts: In Tuesday’s ruling, U.S. District Judge Analisa Torres said she found no “substantial ground for difference of opinion” about her initial findings and that she did not agree that an appeal would advance the case toward a conclusion ..read more

The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday that pushed the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs. See related article: Former FTX exec Ryan Salame to forfeit US$1.5 billion after pleading guilty to charges Fast facts The SEC requested the court review its prior ruling by Judge Analisa Torres, which posed “knotty legal problems,” according to the filing. In July, a summary judgment by Judge Torres ruled that Ripple’s XRP sales to institutional investors violated securities laws, but sale ..read more

Judge Analisa Torres has granted the U.S. Securities and Exchange Commission (SEC) the request to file an interlocutory appeal in its lawsuit against Ripple Labs.  See related article: XRP’s partial victory as Russia inches toward CBDC; Arkham draws flak Fast facts Interlocutory appeals occur before all claims related to all parties are resolved and are only allowed under specific circumstances. In this case, the SEC can file a motion by Aug. 18 to request permission to bring a case to the U.S. Court of Appeals for the Second Circuit. Ripple Labs can also file an opposition to the agency ..read more

The U.S. Securities and Exchange Commision (SEC) is seeking to appeal Judge Analisa Torres’ ruling in July that Ripple’s programmatic sale of XRP cryptocurrency did not qualify as sales of financial securities. The regulator argued that the ruling could have gone the other way, given differing opinions on its legal basis. See related article: Blockchain Association joins Coinbase in pushing back against SEC over crypto crackdown Fast facts On Wednesday, the SEC asked in a court filing that Judge Torres — the presiding judge in the case — allow the federal appeals court to review her July 13 d ..read more

South Korean prosecutors investigating last year’s US$40 billion collapse of Terra-Luna are looking to submit the recent U.S. ruling on Ripple cryptocurrency to a Seoul court to prove the Luna cryptocurrency as financial securities, the Seoul Southern District Prosecutor’s Office confirmed with Forkast. See related article: After U.S. court rules Ripple XRP is not a security, industry remains cautious Fast facts The Seoul Southern District Prosecutor’s Office recently received a translated version of the ruling on the U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs on th ..read more

Bitcoin gained in Thursday afternoon trade in Asia. Ether and all other top 10 non-stablecoin cryptocurrencies rose with Solana leading gains. Toncoin was the only token to post a loss in the past 24 hours. Overall market sentiment was positive despite the U.S. consumer price index (CPI), released Wednesday, showing that U.S. inflation rose in August. See related article: FTX gets green light to sell US$3.4 billion in crypto assets Crypto market on positive note Bitcoin rose 1.78% to US$26,364 in 24 hours to 4 p.m. in Hong Kong, according to CoinMarketCap data. The largest cryptocurrency in t ..read more