as we are anxiously awaiting the results from the sec’s trial against ruffle labs big-hearted moves are being fixed behind the scenes for the future of xrp the seas have been a bit choppy for the xrp horde for a while now but we braved the gale and soon it will be our turn to make it rain let’s get it welcome to bitboy crypto home of the chip crew the largest and greatest crypto community on all the interwebs my refer is ben every day on this direct i present you how to make money in crypto if you like fund and crypto then make sure to make that subscribe button if you want to go deeper into crypto make sure to check out bitlabacademy.com in this video we’re going to cover some of the most recent updates in the world of xrp a lot of beings seem to think the development in the xrp ecosystem has been put on hold as the battle with regulators in the u.s covers up but nothing could be further from the truth ripple has been hard at work making lots and setting up partnerships around the world and things have really started to heat up recently ripple’s on on-demand liquidity service or odl which we’ve discussed on this show many times is silently being adopted worldwide odl stands banks and other international financial institutions to settle cross-border pays approximately instantly as opposed to the traditional methods which could make daytimes or even weeks as the court case has progressed ripple has continued to announce new partnerships in new parts of the world we’ve previously encountered financial institutions of japan mongolia malaysia and the philippines promised to adopt odl works now ruffle has announced a deal with bank alfala which will open the door for cross-border payments in bahrain oman kuwait qatar singapore pakistan these treats have contributed to the unprecedented friction the odl has seen this year odl is now available in over 20 countries and activity on ripple net has more than double-faced since last year with odl deals going up 130 percentage fourth over one-fourth coordinated data recently published by ripple odl business in the recent quarter account over 25 percent of total dollar volume in all the regions of the part system thanks to odl volume has grown by more than 25 x since this time last year most of the partnerships that we’ve seen in the past year have been overseas because of the uncertain regulatory environment here in the u.s but ripple’s most recent announcement would pertain to american investors which is under the sec’s jurisdiction this could be a sign they feel confident enough in their case to start help clients in the u.s again the new product is announced gurgle liquidity hub and it’ll allow businesses to assist their patrons buying a variety of different crypto resources including btc eth litecoin ethereum classic bch and xrp ripple’s first partner will be a service announced coinme which recently began working with walmart to allow crypto purchases at some of their coin stellar machines according to cnbc ripple will be tapping into the existing odl infrastructure for this new liquidity hub service representatives with ripple have also said they plan on offering the service to other clients in the u.s as well the fact that xrp is going to be available in walmart accumulates across the united states says a lot about how the current case against the sec is going if regulators were truly going to slam reverberation down they would probably not be out there acquiring considers to provide xrp in walmart in a press release issued under the rippling website this week policy outline was put forward suggesting a better way for regulators to approach crypto not just xrp but the industry as a whole in the statement ripple said that the u.s regulators should step back and allow innovation to flourish in the blockchain industry they too suggested the regulators should have honest good faith exchanges to the interests of any of us in the industry so we can develop a realistic regulatory framework together what a tale notion the statement too railed against the sec’s current policy of regulation by prosecution called for true-blue regulatory clarity for crypto assets to start an immunity curriculum like this safe harbor law that was previously proposed by sec commissioner hester pierce would allow developers in the u.s to innovate without needing to worry about resolving up in field there is indeed several other legislative endeavors that were supported in the statement including the security clarity act and the digital commodity exchange act the specifics here are complex but both measures would contribute more subtlety to the legal code so crypto programmes were not entirely guessed by standards like the howie exam that are almost a hundred years old the eliminate barriers to innovation act also got some support in ripple’s statement eliminate your barrier to benefit bang that like and subscribe button frames you in the part crew the best place to get the latest in crypto nft and metaverse news and education but when it comes to the question of who should have authority over the industry ripple thinks that the commodity futures trading commissioning or cftc is the regulatory body in the u.s that are the responsibility over crypto it various kinds of reaches gumption this is the agency that has been duelling backward and forward with the securities and exchange commission about who gets to call the shots and wear the pants cfdc would probably be a lot easier for us to deal with than the securities and exchange commission and it would also be a more accurate placement crypto is an entirely new asset class but the majority of members of those assets are much closer to commodities and securities the majority of members of the positive legislation that we’ve seen around crypto has come from the cftc and most of the negative enforcement action that we’ve seen has come from the sec nonetheless it is important to remember that a lot of the help we’ve had from the cftc was thanks to chris giancarlo who’s such a believer in service industries that he became known as crypto dad he’s no longer with the sec he’s now working in the blockchain industry instead so we can’t be sure that the cftc will always be as friendly as it was under his watch still the cftc would be a much better sheriff than grimy gary in the sec comment below with your top picks for the head of the sec and no it can’t be me i’m too busy trying to save the falcons they need some assist an even better idea would be to form an entirely new agency fill it with beings from the industry who actually know what they’re talking about since this is actually a good mind the chances are slim that the government would ever consider it doesn’t hurt to ask though if we can get some kind of public verdict that isn’t ended privately behind closed doors a legal instance might actually be defined but the sec is probably doing everything they can to prevent that from happening because they like regulation by imposition it basically commits them the power to go after any project that they demand ripple seems to be pushing back much harder than other crypto companionships much harder than other crypto companies have when they found themselves in trouble with regulators though they’re on the front lines of a battle that will affect this entire industry ripple may not have been the protagonist some of us wanted but it could end up being the superstar we ever needed that’s all i got be consecrated good boy out[ Music] you