Bitcoin is the most expensive virtual currency in the world. Science and Technology Desk: Bitcoin is the world's first open-source cryptocurrency or digital currency. One bitcoin is worth about 36 lakhs in Bangladeshi currency. Its price fluctuates daily. Bitcoin transactions do not require any institution or organization. Bitcoin is an online currency system currency. This currency system is also called cryptocurrency. It cannot be seen or touched. It is created online and consumed online, digitally. Bitcoin is completely controlled by us, it is not controlled by any organization or individual. The Bitcoin network is a peer-to-peer network that operates through a cryptographic protocol. Users use bitcoin cryptocurrency wallet software and exchange bitcoins digitally via encrypted messaging. Transactions are recorded in a distributed, replicated public database known as a blockchain, and consensus is achieved in a proof-of-work protocol system called mining. Currently Bitcoin is very popular online. Bitcoin designer Satoshi Nakamoto claims that the design and coding of Bitcoin began in 2007. The project was released as open source software in 2009. Apart from Bitcoin, there are some virtual currencies like Litecoin, Ethereum, Ripple all over the world. Global transactions in these currencies are increasing. Even though trading in these currencies is illegal in Bangladesh, such currencies are being traded. Practically there is no difference between a normal paper and a note. But the value of a note starts from 2 taka to 1000 taka. Because there is a government behind it, there is a bank and there is an authority. They sit together and decide the value of a note. And we trust them and make this little piece of paper worth it. But it is completely different with Bitcoin. Bitcoin's value is not set by any government, nor is it or any bank. There is also no specific authority to regulate Bitcoin. #crypto2023 #Binance #bitcoin

mid the turbulent crypto market, bullish sentiments still abound for some cryptocurrencies, especially altcoins like Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BNB), XRP, etc. In a newly surfaced price analysis, a crypto analyst on TradingView, with the pseudonym Oaksacorn, predicted an unprecedented rally that would send XRP to an incredible price high of $249. He also said BTC could rise up to $1.2 million, but set a timeline for $43 XRP and $215,000 BTC. Predicted Timeline for Bullish XRP and BTC Prices Citing historical market trends, Oaksarcon noted that the present market pattern appears to show a glimpse of the cycle that played out between 2015 and 2018. Describing further, Oaksarcon pointed out that the current market cycle parallels the 2015 cycle, which elicited an unprecedented bull season that extended from 2017 to early 2018. The crypto analyst added that with this market structure, Bitcoin could ascend to $215,000, while XRP could start up with an initial increase to the $43 price level. Per Oaksarcon, should the market continue to follow the 2015 to 2018 pattern, then the BTC price could run into millions, precisely $1.247 million. On the other hand, XRP would find itself attaining the $249 price mark. Projected BTC and XRP price highs of $1.247 million and $249 would imply tremendous spikes in the range of 4,652% and 49,700%, respectively, from current prices of $26,237 per BTC and $0.5 per XRP. Hinting at a possible timeframe for his price projection to start playing out, Oaksarcon mentioned that BTC and XRP could hit the predicted prices of $215,000 and $43 in September 2024. It’s worth noting that this predicted timeline is after the periodic Bitcoin halving that historically turns bullish for BTC and the rest of the crypto market in the long term. The halving event is estimated to play out in April 2024. Finally, Oaksarcon warned that market cap for companies and digital assets are different entities that should be analyzed differently. He remarked, “Market Cap for companies is not the same as Market Cap for virtual currencies. Do not let the market cap concept smother your potential.” Meanwhile, while the above analysis might appear bullish for both XRP and Bitcoin, a previous prediction by Nicholas Merten that noted a $440 billion loss in the overall crypto market capitalization was published earlier by Timestabloid. It highlighted the impacts of the projected bloodbath on BTC’s market value. According to Merten, BTC could drop by 43%, finding support between $15,000 and $16,000. It is left to see how events unfold, as any of these forecasts would play out in the long run. *Disclaimer: This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #BTC #XRP $BTC $XRP

According to Cointelegraph: In Shanghai, China, Bitcoin has gained official recognition as a unique and non-replicable digital asset. This acknowledgement is made by the Shanghai Second Intermediate People's Court and signifies a critical advancement, following a report from another Chinese court earlier in September which identified cryptocurrencies as virtual property, thereby safeguarding them legally. The court's report, released on September 25, discussed the progression of internet technologies, highlighting Bitcoin's distinctive standing as a unique and irreplaceable digital currency among numerous virtual currencies. The report also emphasized Bitcoin's specific characteristics, such as its relative scarcity, property attributes, scalability, ease of circulation, storage, and usage for payments. It underlined that Bitcoin maintains its global usage despite its decentralised nature and the absence of a managing central authority. This latest acknowledgment provides a boost to Bitcoin and other digital currencies in China in terms of legal legitimacy. Despite the broad prohibition on cryptocurrencies imposed by China in 2021, legal arguments defining Bitcoin as personal property have received significant support in local Chinese courts. This recent recognition from a major court in Shanghai contrast with Beijing's generally unfavourable stance towards Bitcoin. However, several Chinese courts over the years have legally recognised Bitcoin and other digital assets as properties subject to legal protection. As mentioned earlier, a report from a People's Court in China asserted that digital assets qualify as legal property and are thus protected by law. This highlights the evolving acceptance and understanding of digital assets in the country's judicial system, despite governmental restrictions.  

In a bold and unexpected move, HSBC, the renowned British banking giant, has ventured further into the world of cryptocurrency, allowing its eligible clients to make payments using Ripple (XRP) and Shiba Inu (SHIB) cryptocurrencies. This groundbreaking initiative comes as part of HSBC's collaboration with the innovative blockchain payment system, FCF Pay, marking a significant step toward mainstream acceptance of digital assets in traditional finance. Diverse Payment Options: Ripple, Shiba Inu, and Memecoins The news sent shockwaves throughout the financial world, as HSBC clients can now use cryptocurrencies to pay their mortgage bills and loans. But that's not all—HSBC's forward-thinking approach extends beyond the widely known digital currencies. In addition to XRP and SHIB, eligible customers can also transact using popular memecoins like Dogecoin (DOGE). This unexpected foray into the meme-inspired cryptocurrency market highlights HSBC's commitment to staying at the forefront of banking innovation. Market Reaction Surprisingly, the announcement had minimal impact on the prices of the mentioned cryptocurrencies. Over the past week, XRP and SHIB experienced a modest decline of nearly 2%, while DOGE saw a slightly more substantial slump of over 3%. This subdued market reaction suggests that HSBC's integration of cryptocurrencies may be viewed as a promising step forward, yet one that requires further time and market adoption to reach its full potential. A Progressive Stance on Cryptocurrency HSBC's recent move into cryptocurrency is not entirely unexpected, given its previous engagements with blockchain technology. In December 2021, the bank partnered with Wells Fargo to utilize a blockchain platform for settling Forex transactions, streamlining international payments and enhancing security. This initial step demonstrated HSBC's growing interest in the transformative power of blockchain technology. In another trailblazing move, HSBC embraced the Metaverse, becoming the first global bank to immerse itself in this virtual realm. By purchasing virtual real estate in the form of LAND, HSBC sought to connect and engage with sports, esports, and gaming enthusiasts on a whole new level. This pioneering approach has underscored the bank's commitment to embracing emerging technologies and staying relevant in an ever-evolving financial landscape. Changing Perspectives on Cryptocurrency Despite these significant strides into the world of cryptocurrency and blockchain, HSBC has not always been a proponent of digital assets. CEO Noel Quinn, in the spring of 2021, publicly expressed skepticism about the industry and indicated that the bank had no immediate plans to adopt Bitcoin or offer it as an investment option to its customers. However, this recent move to allow clients to pay with XRP, SHIB, and DOGE suggests that HSBC is evolving and adapting to the changing financial landscape. It showcases a willingness to explore the potential benefits of cryptocurrencies and integrate them into their traditional banking services. Conclusion HSBC's groundbreaking decision to allow the use of cryptocurrencies for mortgage and loan payments, including Ripple, Shiba Inu, and even meme-inspired Dogecoin, represents a major milestone in the banking industry's journey towards embracing digital assets. While the market reaction has been relatively subdued, this move signals a progressive shift in HSBC's approach to cryptocurrency and emerging technologies. As traditional finance continues to intertwine with the world of blockchain and cryptocurrencies, HSBC's latest move serves as a testament to the ever-evolving nature of the financial sector. It leaves us with the anticipation of further innovations and transformations in the banking world on the horizon. $XRP $SHIB #crypto2023 #cryptonews

🇨🇳 Shanghai Court Validates #Bitcoin   , Paving the Way for Crypto Evolution 🚀1️⃣ What’s the News? 👉 The Shanghai No. 2 Intermediate People’s Court has officially recognized Bitcoin as a unique digital currency. 👉 This comes despite China’s national crypto ban2️⃣ Why is this Significant? 👉 Despite the ban, a Shanghai court recognized Bitcoin as virtual property. 👉 This strengthens legal rights for cryptocurrency in China.3️⃣ What’s the Court’s Perspective? 👉 The court published an article acknowledging Bitcoin’s legitimacy. 👉 It highlighted #Bitcoin   ’s uniqueness and non-replicability.4️⃣ Bitcoin’s Property Attribute 👉 The article noted Bitcoin’s relative scarcity and widespread recognition. 👉 It emphasized that #Bitcoin  can be obtained through labor production (mining), inheritance, or buying and selling.5️⃣ Impact on #Crypto in China 👉 This legal opinion provides additional legitimacy to #Bitcoin    and other digital currencies in China. 👉 It suggests that courts might be more inclined to consider arguments classifying cryptocurrencies as personal properties.

#BTC $CYBER Once upon a time in a world consumed by technology, there existed a revolutionary concept known as Cyber Connect Crypto. It was an innovative digital currency that sought to bridge the gap between the virtual and physical realms. The story begins with a brilliant team of programmers and visionaries who saw the potential of blockchain technology to transform the way people interacted and conducted financial transactions. They believed that decentralization and security were paramount in creating a currency that could truly revolutionize the world. With their combined expertise, they developed Cyber Connect Crypto (CCC) as a decentralized, peer-to-peer cryptocurrency. Unlike traditional currencies, it was not controlled by any government or central authority, making it immune to manipulation and The team believed that everyone should have equal access to financial opportunities, regardless of their location or background. Therefore, they designed CCC to be accessible to anyone with an internet connection, breaking down barriers and empowering individuals around the globe. As word spread about the advantages of CCC, its popularity grew exponentially. People started using it for everyday transactions, from buying groceries to paying bills. Merchants began accepting CCC as a form of payment, recognizing its value and potential. But it wasn't just about convenience and accessibility; CCC also prioritized security. Its advanced encryption techniques ensured that transactions were virtually impossible to hack, safeguarding users' financial information and providing peace of mind. As CCC gained momentum, it sparked a global movement towards financial independence and empowerment. People started questioning the traditional banking system and its limitations. With CCC, they had full control over their finances, free from the constraints imposed by banks and intermediaries. $BTC $CYBER

Bitcoin on the Cusp of $28K: Market Dynamics Amid Federal Reserve Decisions. • Bitcoin's resilience shines as it targets the $28,000 milestone despite Federal Reserve's hawkish stance. • Central bank decisions from leading economies play pivotal roles in influencing Bitcoin's price trajectory. • Onchain analysts urge caution, pointing out not-so-promising BTC technicals. Delve into Bitcoin's potential push to $28K, the influences of central bank policies, and the contrasting sentiments of market analysts. Defying the Feds: Bitcoin's Resolute Trajectory. While Bitcoin predominantly hovers around the $27K mark, the market radiates optimism, forecasting a breakthrough past the $28K benchmark. This enthusiasm persists even in light of less-than-favorable comments from the Federal Reserve. Recently, the U.S. Federal Reserve signaled a surge in interest rates by 2024, overstepping the expected 4.3%. Such decisions typically sway the virtual currency market, but Bitcoin showcased robustness with only a minor price dip post-announcement. Central Bank Policies: A Determining Factor for Bitcoin. The intricate dance between cryptocurrency prices and monetary policy adjustments is no secret. A reduction in interest rates has historically signaled a boost for virtual currencies like Bitcoin. Conversely, tightened monetary policies often lead to dips. However, Bitcoin's recent display of only a 1% decline post the Feds' rate hike plan revelation reflects its strength. With BTC rebounding to $27,000 and market analysts signaling an imminent $28K reach, it's evident that external factors, such as central bank decisions from economies like England, Switzerland, and Japan, play a crucial role. $BTC

This crazy story caught my eye and I had to share it. Being an early investor and holding is hard, but losing 40,000 BTC along the way is devastating. Somehow Tim managed to pick himself up and get back to it, and it paid off big time!It all started when Tim Draper (a well known entrepreneur and venture capitalists) was approached by a man that had to buy a $40 virtual sword for his sons birthday. He was shocked that people were buying virtual goods with fiat currency.He thought about the idea of having virtual currencies in the future. This is when he stumbled upon Bitcoin! Peter Vesennes (a friend of his business partner) explained to Tim how bitcoin worked and what it was.Tim did a lot of research an ended up investing into bitcoin when it was trading at $6. They also started mining bitcoin, but that did not go as planned as there were problems with the company that made the chips.Most of Tim’s Bitcoins were held on the early bitcoin exchange Mt.Gox and lost in the collapse.He thought it was the end, but after diving in deeper and really understanding the decentralization aspects of bitcoin along with being your own bank, he started buying bitcoin again!In 2014, the US Marshalls auctioned off $18 million dollars worth of bitcoin. Tim ended up buying it all! His father wasn’t too happy with it and told him to stick with the dollar!Tim is still holding his bitcoins and not selling anytime soom! It paid off big time for him! #Johnmiracleweb3 #cryptocurrency

On Monday, the New York Department of Financial Services (NYDFS) introduced updated standards for its virtual currency oversight while removing Ripple (XRP) from "its approved list of cryptocurrencies." According to the updated standards, NYDFS reviewed its existing list of approved cryptocurrencies, creating a new list, called the "Greenlist."  According to the official website of the NYDFS, it explains: "The Department makes available on its website a Greenlist that identifies the coins the Department has approved for VC Entities to custody or list without first establishing an approved coin-listing policy or otherwise seeking prior approval." Among hundreds, only eight cryptocurrencies met the NYDFS's stringent criteria, including Bitcoin, Ether, the new PayPal Dollar, and five stablecoins. Consequently, over two dozen cryptocurrencies previously authorized for custody, listing, or both were removed from the Greenlist. Tokens like Ripple, Dogecoin, and Litecoin are no longer included. These new standards set clear guidelines for all licensed crypto firms regarding listing various cryptocurrencies. They will apply to all digital firms operating under NYDFS licensing, including those running cryptocurrency exchanges and wallets. Any firm or token not on the approved list must submit applications to the NYDFS for cryptocurrency listing, with each application subject to individual evaluation. The New York Department of Financial Services (NYDFS) is renowned for its rigorous oversight of virtual currencies in the United States, primarily through its BitLicense program and virtual currency unit. While the industry often criticizes the NYDFS for its perceived slow licensing process, the new guidance on cryptocurrency listing demonstrates the agency's deliberate approach to crypto regulation. This distinguishes it from other state and federal bodies that favor enforcement actions. Under the previous standard, firms licensed by BitLicense and the virtual currency program could gain approval for custody and listing of tokens through a self-certification system. While this system streamlined the process, it retained NYDFS oversight, as firms were required to inform the NYDFS of their actions. NYDFS Issues Stricter Guidelines for Cryptocurrency Listings, Raising Questions about XRP In contrast, the new guidance mandates that firms submit a comprehensive application to the NYDFS before listing a new cryptocurrency. This application must include detailed information regarding the cryptocurrency's security, stability, liquidity, and compliance with relevant laws and regulations. The DFS will scrutinize the application and may request further information before reaching a decision. The firm can list the cryptocurrency on its platform if the application is approved. Popular Ripple attorney John E. Deaton uses X to comment on the NYDFS's new guidance on cryptocurrency listing while removing XRP from its Greenlist, saying that: "After it was determined NOT to be a security," Deaton said, "it's not even a security if Ripple sells it on exchanges. Yeah, this move isn't political or punitive in nature." Deaton is referencing a significant ruling made by Judge Analisa Torres in July 2023, where she determined that secondary sales of XRP don't fall under the category of investment contracts. This implies that, according to US law, XRP isn't classified as a security. While the NYDFS's new guidance mandates detailed applications for listing new cryptocurrencies, it doesn't explicitly state whether this applies to XRP. Deaton believes the NYDFS cannot single out XRP, especially considering its established non-security status. The judge's initial ruling was a substantial win for Ripple, and Deaton believes that an appeal from the SEC is unlikely to reverse it. $XRP

The New York Department of Financial Services (NYDFS) has taken significant steps in redefining its approach to regulating the world of virtual currencies. On Monday, September 18, the NYDFS announced a set of revised regulations, shedding light on its criteria for listing and delisting cryptocurrencies. One of the notable exclusions from its approved list is Ripple's XRP, alongside Dogecoin (DOGE). The NYDFS's Regulatory Overhaul The NYDFS has introduced revised regulations aimed at providing greater clarity in the cryptocurrency market. These changes signify a shift towards a more proactive approach in supervising financial institutions dealing with cryptocurrencies. Previously, DFS-licensed businesses could add and endorse digital assets without extensive oversight. The new guidelines elevate the standards for evaluating the risk associated with introducing new cryptocurrencies, especially for organizations serving retail clients. Ripple's XRP and Dogecoin Dropped Among the notable changes in the NYDFS's approved list, two cryptocurrencies, Ripple's XRP and Dogecoin, have been excluded. This move aligns with the department's revamped rules. While XRP had displayed remarkable resilience in the crypto market, boasting a 44% price surge over the past year, it now faces challenges as it is no longer on the NYDFS's greenlist. We'll explore the potential implications for these excluded cryptocurrencies. XRP Price Analysis Despite being removed from the NYDFS's approved list, XRP continues to demonstrate its resilience in the crypto market. Its price currently stands at $0.5077, with recent gains of 0.94% in a day and an impressive 6.09% in a week. We'll delve into the technical levels of XRP, examining support and resistance, and discuss its trading activity, including the significance of trading below the 200-day moving average. Monitoring the Impact The regulatory changes introduced by the NYDFS have significant implications for cryptocurrency firms operating in New York. With only eight tokens and coins remaining on the new greenlist, crypto businesses will need to adapt to a more stringent regulatory environment. We'll explore how these changes might affect the operations and strategies of crypto firms in the state, as well as the importance of monitoring XRP's inflation rate for its long-term value and purchasing power. In Summary The NYDFS's revised regulations have ushered in a new era for cryptocurrency oversight in New York. Ripple's XRP and Dogecoin have been notably removed from the approved list, setting the stage for increased scrutiny and regulation in the crypto market. While XRP continues to show resilience, crypto businesses in the state will need to navigate these changes carefully. As the crypto landscape evolves, staying informed about regulatory developments and their impact on specific cryptocurrencies is essential for market participants. #NYDFS #XRP #DOGE $XRP $DOGE #Ripple #DogeCoin

The world of cryptocurrency is no stranger to regulatory changes, and the latest update from the New York Department of Financial Services (NYDFS) has sent ripples through the digital currency community. In a recent development, the NYDFS has made significant alterations to its 'greenlist,' impacting popular cryptocurrencies like Ripple's XRP, Litecoin, and Dogecoin. This move raises questions about the regulatory landscape for these coins and the implications for investors. The Greenlist Evolution: The NYDFS's greenlist has long been a source of guidance for virtual currency entities. It previously identified the cryptocurrencies approved for custody or listing without requiring an approved coin-listing policy or prior approval. This meant that cryptocurrency projects could operate more freely within the state of New York if their assets were on the greenlist. However, the recent update has shaken up this list significantly. Out of the Shadows: The removal of XRP, Litecoin, and Dogecoin from the greenlist has left many wondering about the future of these assets. While this change may appear concerning, pro-Ripple attorney John E. Deaton offers a different perspective. He points to a recent ruling by Judge Analisa Torres, which concluded that secondary XRP sales do not constitute investment contracts. Deaton's opinion suggests that there may be little reason to worry about XRP's future, even outside the greenlist. XRP's Resilience: Despite being delisted from the NYDFS greenlist, XRP has demonstrated remarkable resilience. Over the past week, it has added over 6% to its dollar value. This performance indicates that XRP remains an attractive investment option for many despite regulatory uncertainties. The Survivors: With the removal of XRP, Litecoin, and Dogecoin, only eight tokens remain on the NYDFS greenlist. Among these survivors are cryptocurrency giants like Bitcoin and Ether, along with the relatively new PayPal stablecoin. These tokens continue to enjoy the benefits of being on the greenlist, but the evolving regulatory landscape suggests that even they are not entirely immune to change. Conclusion: The NYDFS's decision to remove XRP, Litecoin, and Dogecoin from its greenlist underscores the ever-evolving nature of cryptocurrency regulations. While some may view this as a setback for these assets, others, like pro-Ripple attorney John E. Deaton, remain optimistic about their future. The cryptocurrency market is known for its resilience, and XRP's recent price performance serves as a testament to this fact. As the crypto industry navigates through regulatory challenges, it's crucial for investors to stay informed and adapt to the changing landscape. Only time will tell how these developments will shape the future of digital currencies. $XRP $LTC $DOGE 1. #CryptoRegulation 2. #NYDFSUpdate 3. #XRPResilience 4. #CryptocurrencyNews 5. #DigitalCurrencyTrends

The New York Department of Financial Services (NYDFS) unveiled on Monday, September 18, revised regulations pertaining to its supervision of virtual currencies, concurrently eliminating Ripple (XRP) from its roster of permitted cryptocurrencies. In the recent update, the DFS has excluded a number of cryptocurrencies, such as XRP, which is associated with Ripple, and Dogecoin (DOGE), from its approved list of digital tokens and coins.  The omissions align with revised rules aimed at providing clarity about the department’s criteria for listing and delisting regulated firms in the cryptocurrency market. DFS press statement  DFS Superintendent Adrienne Harris issued a press statement detailing new procedures for listing tokens.   For organizations that deal with retail clients, the new guidelines establish regulations and increase the bar for assessing the risk of introducing new cryptocurrencies. A DFS-licensed business could previously vouch for and add digital assets for storage or trade without any outside involvement. The new rules require the DFS to take a more active role in supervising financial institutions and do away with the previous laxity. There are currently just eight tokens and coins on the new greenlist, which may have an effect on how crypto firms in New York operate. XRP price analysis XRP is currently displaying notable resilience in the crypto market, with its price standing at $0.5077. This marks an impressive uptick of 0.94% over the course of the day and a remarkable 6.09% increase in the span of just one week.  Over the past year, XRP price has surged by an impressive 44%, this performance positions it ahead of the majority, outperforming a substantial 85% of the top 100 cryptocurrencies within the same timeframe, despite it retracing its significant gains from the SEC case victory.   In terms of technical levels, XRP appears to be well-supported at $0.48034, providing a solid foundation for potential price fluctuations. Conversely, it faces resistance at the $0.53342 mark, indicating a key battleground for traders. XRP 1-day price. Source: Finbold Analyzing recent trading activity, XRP has recorded 16 green days out of the last 30, constituting 53% of its recent trading history.  However, it’s worth noting that XRP is currently trading below its 200-day simple moving average, which suggests a bearish trend. Furthermore, the yearly inflation rate for XRP stands at 15.26%, which warrants careful monitoring as it can impact the token’s long-term value and purchasing power. Disclaimer: The content on my feed should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

#XRP and another twenty-four tokens have lost their status as "approved tokens" that can be listed on exchanges. Only eight crypto assets were given the green light when the New York Department of Financial Services revised its virtual currency supervision system. The price of XRP has been creeping closer and closer to $$0.505, a crucial barrier that must be broken in order to launch a rebound surge. The price of XRP has been affected by macroeconomic factors since at least 2020. The token was slow to get the "greenlight," but the New York regulatory authority hopes to change that with new guidelines. Assault on $XRP by a New York state agency The New York State Department of Financial Services (NYDFS) has modernised its regulations governing virtual currencies. New requirements for crypto asset listing on exchanges were mentioned in the revision. Meanwhile, the NYDFS delisted 25 assets from its "greenlist" of safe tokens. There are currently 25 recognised cryptocurrencies, including XRP, DOGE, LTC, and more; BTC, ETH, and 6 others are still in the green. Circle's USD Coin (USDC) is the second largest stablecoin after Tether (USDT), however it is not on the "greenlist." The stablecoin wasn't even on the first list, so it's unclear why this determination has been so staunchly upheld. The NYDFS may investigate the token's listing on cryptocurrency exchanges if it has not been approved by the agency. When the Securities and Exchange Commission (SEC) initially launched its action against Ripple, this was an issue with XRP. As a result, XRP was delisted from multiple markets before being reinstated after Ripple's partial success. Given the present market conditions, another delisting might have a more adverse effect on the price. Potential downside for the XRP pricing There is risk for XRP investors if the delisting of tokens follows the New York Department of Financial Services' update. The cryptocurrency has lost all of its gains since mid-July, as shown by the larger market. The current price of XRP is $0.503, and if it were to break through the $0.505 resistance level and use it as support, it would go towards the 50-day Exponential Moving Average (EMA) at $0.XXX. Using this line again as support might help the asset's recovery along. The Relative Strength Index (RSI) is currently above 50.0, indicating that positive sentiment is more likely to persist. The support for XRP lies at $0.480, so if the breach doesn't work or external factors have a negative effect on the coin, the price might fall to that level. The bullish thesis would be disproved and additional losses would occur if the market fell through it.

Regulatory Update in New York On Monday, the New York Department of Financial Services reported on a revision of its guidelines regarding  #cryptocurrencies . Within this overhaul, more than 24 tokens were removed from the "trusted list", including popular currencies like   #Dogecoin #Ripple and  #Litecoin . Now, only eight tokens remain on the list, with notable entries like bitcoin, ether, and PayPal's new dollar.  DFS and Its Role in Cryptocurrency Regulation As cryptocurrency regulation continues to gain significance, the New York DFS agency has emerged as a primary player in the digital assets field, thanks to its BitLicense program and virtual currency department. While the licensing process is often criticized, the current directives reflect DFS's thorough approach to the issue.  DFS's Green Token List The green list was created as part of the oversight of cryptocurrencies. Previously, companies licensed by DFS could obtain permission for token custody and listing, simplifying the whole process. Once a token was certified by two firms, it was added to this list, speeding up and simplifying subsequent procedures.  Updates to the Green List According to a recent document, the green list previously had 25 approved tokens. In the new version, only eight remain. Interestingly, the stablecoin USDC, despite its high market capitalization, did not make an appearance.  DFS's Direction and Future Steps In its statement, the DFS emphasized that the new directive would bring clearer expectations regarding the introduction and removal of coins. Changes also include stricter risk assessment standards and heightened requirements for consumer-oriented firms.  Under the leadership of Adrienne Harris, stricter controls were introduced in the cryptocurrency sector. Last year, for example, the DFS handed out sanctions to firms, including a $100 million fine to Coinbase.  DFS holds significant respect among American crypto companies. The updated green list illustrates the challenges cryptocurrency firms face when deciding which tokens to include, especially in light of uncertain regulation. #crypto2023  Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“