According to insights shared by lawyer John E. Deaton, the ongoing SEC lawsuit against Ripple has had a negative impact on the adoption of XRP. The lawyer, following the legal proceedings, recently took to X to highlight a notable example of how the lawsuit hindered the cryptocurrency’s adoption. Deaton’s observation comes as a shared personal experience from when he attempted to make a payment over the Internet. Here’s is a small yet significant example of how the lawsuit hurt #XRP’s adoption. I was just purchasing an item over the internet and the payment options include: “Pay with cryptocurrency with @BitPay.” BitPay originally included #XRP – it was one of the first ones utilized.… pic.twitter.com/MGsbWEGnOA — John E Deaton (@JohnEDeaton1) September 3, 2023 He
Topics:
Jordan Lyanchev considers the following as important: Crypto Bits, sec
This could be interesting, too:
Dimitar Dzhondzhorov writes 4 Reasons Why Bitcoin’s (BTC) Price Might See a Short-Term Correction
Jordan Lyanchev writes 4 Possible Reasons Behind PEPE’s 50% Surge to New All-Time High
Bitcoin Schweiz News writes Ripple und die Banken: Kann XRP das globale Finanzsystem revolutionieren?
George Georgiev writes Ripple’s Price Explodes Above %related_posts%.7 as XRP Bull Run Takes Off
According to insights shared by lawyer John E. Deaton, the ongoing SEC lawsuit against Ripple has had a negative impact on the adoption of XRP.
The lawyer, following the legal proceedings, recently took to X to highlight a notable example of how the lawsuit hindered the cryptocurrency’s adoption.
- Deaton’s observation comes as a shared personal experience from when he attempted to make a payment over the Internet.
Here’s is a small yet significant example of how the lawsuit hurt #XRP’s adoption. I was just purchasing an item over the internet and the payment options include: “Pay with cryptocurrency with @BitPay.”
BitPay originally included #XRP – it was one of the first ones utilized.… pic.twitter.com/MGsbWEGnOA
— John E Deaton (@JohnEDeaton1) September 3, 2023
- He noticed that the payment options included the well-known crypto payment processor BitPay, which initially had supported XRP as one of its accepted cryptocurrencies.
- However, Deaton revealed that following the SEC lawsuit against Ripple, BitPay stopped processing XRP transactions within the United States.
- Before the lawsuit, XRP was widely recognized as a cryptocurrency for efficient cross-border payments and transactions.
- In contrast, other cryptocurrencies like Dogecoin, created initially as a humorous take on the digital currency phenomenon, have taken on unexpected roles, such as being used for payments.
- Deaton’s tweet highlights the irony of the situation, where a cryptocurrency like Dogecoin, created as a meme, has found its way into payment systems. In contrast, XRP, a cryptocurrency designed specifically for payments, has faced setbacks due to regulatory challenges.