SEC LEAK, RIPPLE SETTLEMENT?

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Here’s what we got for you today:

1. Another Major SEC Announcement Leak, Ripple Settlement?

2. Metamask to streamline crypto purchase in INDIA.

3. Russia offers Subsidies on Crypto Mining.

4. Cardano’s Valentine Upgrade.

Another major SEC announcement leak, Ripple Settlement?

Journalist Eleanor Terrett revealed an explosive leak in a tweet yesterday, which could affect the entire crypto industry!

or allegedly Ripple and its legal battle with the Securities and Exchange Commission in the United States (SEC) ?

This tweet has fueled speculation about the nature of the announcement.

She cites a settlement reached between Kraken and the Securities and Exchange Commission in the United States.

Is it a Ripple and SEC agreement?

Meanwhile, the XRP community is hopeful that Ripple and the SEC have reached an agreement.

The rumour stems from the fact that the SEC case against Ripple has been fully briefed and is now awaiting a decision from judge Analisa Torres.

XRP community attorney John E. Deaton argued that a settlement is unlikely before the court ruling.

Deaton believes the regulator is willing to fight to the bitter end.

But not all end has to be bitter today, some phenomenal adoption is happening in INDIA on ground level :

How MetaMask is streamlining crypto purchase in INDIA.

• MetaMask wallet is integrating with Onramp.money

• This will allow Indian users to purchase cryptocurrency directly from the in-browser wallet with UPI & IMPS.

What is UPI & IMPS?

UPI is like India’s Magical proprietary Tech, that allows Indians to transact with each other, in seconds. That also can be done across different banks, across the country.

IMPS is like sending Wire transfers, but they complete instantly.

This is Huge For Adoption, this integration will make it easier for Indian users to acquire assets on the Ethereum, Polygon, and BNB Chain and use them within decentralized applications.

But the lack of regulatory clarity from the government and the difficulty of finding banking channels for on-ramping remain challenges in the crypto market in India.

Not speaking about 30% tax on crypto gains and a 1% tax deducted at source though …

But Look at India Close Friend, Russia :

Russia offers subsidies on crypto mining

yes, you read that right. but that too in Siberia?

Since the Ukraine war and ensuing financial sanctions, the Russian government has reversed its stance on cryptocurrency.

Now, they are establishing a crypto mining center in Buryatia, a republic in East Siberia and a constituent republic of the Russian Federation.

Here’s a quick peak of this new facility, It will :

• house 30,000 mining machines.

• employ 100 people.

• draw 100 megawatts from the power grid.

But that’s not all ! They will also offer various incentives such as :

• Zero land and property taxes.

• Lower income tax rate.

• Insurance premiums reduced to 7.6%.

• The electricity tariff will be reduced by about half.

All this explains the government’s support.

Cardono’s Valentine Upgrade !

As the Valentine’s day approaches, so does the new Cardano upgrade.

It’s literally called the Valentine, set to go live on the mainnet on February 14.

It’s introduced with an aim to facilitate secure cross-chain dApp development on the Plutus platform while advancing the network’s objective of blockchain interoperability.

Learn More about it in the thread below

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.