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DFSA approves XRP for use in Dubai International Financial Center, joining other accepted cryptocurrencies like BTC and ETH.
Ripple records legal victories against the U.S. SEC and an increase in XRP holdings by major investors. With XRP’s listing in Dubai, new regional payments and use cases may be unlocked for the XRP Ledger. Ripple said Dubai’s innovation-forward regulations and reputation as the leading global financial center propelled the decision to choose the DIFC for its Middle East and North Africa headquarters in 2020. Over time, the MENA region has amassed and now holds roughly 20% of Ripple’s customers.
Ripple has won two partial victories against the United States Securities and Exchange Commission in July and October. A federal judge ruled that the programmatic sales of XRP did not constitute a security or an offer of an investment contract in July, while U.S. magistratesthe regulator’s wish to appeal the initial decision in October, as well as all charges brought against Garlinghouse and the company’s executive chairman Chris Larsen.
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