Regulation
GRVT becomes world’s first regulated DEX after licensing in Bermuda
- GRVT has secured Bermuda’s Class M license, becoming the first regulated DEX globally.
- GRVT combines 600,000 TPS with compliance, aiming to be the “Goldman Sachs on blockchain.”
- GRVT plans global expansion, aligning with MiCA and ADGM for broader regulatory approval.
GRVT, a hybrid cryptocurrency exchange founded in 2022 and pronounced “gravity,” has achieved a groundbreaking milestone by becoming the world’s first regulated decentralized exchange (DEX).
The exchange secured the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA), positioning itself at the forefront of the decentralized finance (DeFi) industry.
GRVT aims to become the ‘Goldman Sachs on blockchain’
GRVT aims to redefine the financial landscape by offering a scalable, decentralized marketplace that empowers individuals and institutions alike. With a vision to become the “Goldman Sachs on blockchain,” GRVT brings institutional-grade expertise to DeFi.
The exchange’s hybrid model combines off-chain order matching with on-chain settlements, achieving a throughput of 600,000 transactions per second (TPS).
By acquiring the Class M Digital Asset Business License, the DEX sets a new standard for integrating blockchain technology with regulatory compliance, paving the way for greater institutional and mainstream adoption.
The Class M license, granted under Bermuda’s Digital Asset Business Act (DABA), allows GRVT to operate as a regulated digital asset derivative exchange. While the platform will initially serve select corporate customers, it is actively working towards fulfilling pre-operational conditions to formally launch its services.
GRVT plans to upgrade to a Full Class license in future, enabling it to expand its global operations further.
As part of its broader strategy, GRVT is engaging with regulatory frameworks in multiple jurisdictions, including the European Union’s MiCA and Abu Dhabi Global Market (ADGM).
By aligning innovation with regulatory clarity, GRVT is setting a precedent for the future of DeFi, fostering trust, transparency, and accessibility for all.
Bermuda’s reputation as a leader in digital asset regulation
The Premier of Bermuda, E. David Burt, emphasized that GRVT’s licensing reflects the country’s commitment to fostering innovation while maintaining robust regulatory oversight.
Similarly, Kendaree Burgess, Managing Director of the Bermuda Business Development Agency (BDA), lauded the achievement as a testament to Bermuda’s role as a global financial hub.
GRVT’s co-founder and CEO, Hong Yea, underlined the importance of regulatory compliance in earning the trust of institutional players. He stated, “Compliance should be the foundation for crypto and DeFi, not an afterthought. Without it, bringing revolutionary technologies to the mainstream becomes nearly impossible.”
Ripple has dropped its cross-appeal against the US Securities and Exchange Commission (SEC) following the latter’s decision to drop its case against the crypto firm last week. The firm’s Chief Legal Officer (CLO), Stuart Alderoty, also revealed what will happen with the $125 million penalty the Court awarded against them.
Ripple Drops Cross Appeal Against The US SEC
In an X post, Ripple’s CLO, Stuart Alderoty, revealed that his firm has now agreed to drop its cross-appeal against the US SEC after the Commission decided to drop the appeal without conditions.
This development officially ends the long-running legal battle between the crypto firm and the SEC, as the latter has also agreed to drop the Ripple lawsuit in its entirety.
Alderoty also revealed what will happen to the monetary judgment, which Judge Analisa Torres awarded against the crypto firm. He stated that the Commission will keep $50 million of the $125 million fine, which is already in an interest-bearing escrow in cash, while Ripple will collect the balance of $75 million.
Meanwhile, the US SEC will ask the Court to lift the standard injunction it imposed against the crypto firm at the Commission’s request. This move is subject to the Commission vote, the drafting of final documents, and routine court processes.
Significance Of This Development
Besides ending the Ripple lawsuit, the SEC’s agreement to request that the Court drop the standard injunction against the crypto firm paves the way for a surge in XRP’s adoption since the company can now proceed to carry on its on-demand liquidity (ODL) sales as usual.
Legal experts had predicted that Ripple was holding out on settlement to get the Commission to lower the fine and request the Court to drop the injunction. As such, these developments undoubtedly represent a massive victory for the firm.
CEO Brad Garlinghouse recently discussed the company’s future. He predicted that their US operations would grow in the coming months following the end of the lawsuit and thanks to imminent crypto legislation.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Brad Garlinghouse Discusses Ripple’s Future, Crypto Legislation & Blockchain Technology As Lawsuit Ends
Ripple CEO Brad Garlinghouse recently discussed what is next for his firm and how crypto legislation could also positively impact the crypto industry’s trajectory and the future of blockchain technology. This comes just days after the US SEC agreed to drop the long-running Ripple lawsuit.
Ripple CEO Brad Garlinghouse Reveals What As SEC Drops Lawsuit
In a FOX Business interview, Brad Garlinghouse discussed what next for his firm following the SEC’s decision to drop the Ripple lawsuit. He noted that about 95% of the company’s customers are overseas, as the lawsuit hindered their US operations.
However, he suggested that will likely change moving forward as they grow their operations in the country. Garlinghouse remarked that they have already been witnessing domestic interest since US President Donald Trump took office. The Ripple CEO revealed they have signed more deals since then than in the six months preceding Trump’s inauguration.
The company is expected to grow further in the US after the SEC agreed to drop the Ripple lawsuit. Brad Garlinghouse predicts that his firm’s innovative technology will play out over the next ten to twenty years in terms of how it integrates and rewires the US financial structure in terms of payments, real estate, and securities transactions.
The Ripple CEO again took time to highlight how Trump’s crypto-related executive orders, especially the creation of the Strategic Bitcoin Reserve and Digital Asset Stockpile, have created a more friendly environment for crypto firms in the US.
He noted that financial institutions are now more open to crypto technology. As CoinGape reported, the OCC has cleared Federal Banks to engage in crypto activities.
On Stablecoin Legislation & Its Impact
Brad Garlinghouse commended the efforts of legislators like Senator Cynthia Lummis and Rep French Hill to provide regulatory clarity. These lawmakers are championing the market structure and stablecoin bills to create a regulatory framework that will guide crypto firms. Senator Lummis also recently reintroduced the Bitcoin Act to codify Trump’s vision of a Strategic Bitcoin Reserve.
The Ripple CEO welcomed the idea of regulatory clarity, stating that it would reassure customers that they can engage with them in good faith. He remarked that these customers would feel more comfortable using their technologies without fear of regulators attacking them. Garlinghouse added that this would also enable more job creation, innovation, and capital formation in the US.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A change of guard at the US Securities and Exchange Commission (SEC) is powering a shift away from cryptocurrency enforcement. Under new leadership, the US SEC is narrowing its focus on traditional securities cases driven by a handful of factors.
US SEC Turns Its Gaze Away From Crypto Enforcement
According to a Reuters report, the US SEC is bringing down the curtain on its five-year rampage against the cryptocurrency industry. Going forward, the Commission will focus its resources on traditional cases involving corporate and individual securities fraud.
The SEC’s interim Enforcement Director Sam Waldon revealed that the Commission will give priority to individual cases. During the Gary Gensler administration, the SEC directed the bulk of its resources toward crypto enforcement against industry giants.
With Gensler out of the picture and new brass coming on board, the SEC is changing its stance. Paul Atkins is set to face a nomination hearing at Capitol Hill this week, signaling a breath of fresh air for the Commission.
For starters, a string of case dismissals against cryptocurrency companies, particularly the Ripple SEC case, accentuates a change in strategy. Furthermore, declarations that memecoins are not securities and exempting Proof-of-Work mining from securities obligations underscores the point.
Securities Watchdog Does Not Have The Numbers To Sustain Crypto Enforcement
Apart from new leadership, a key factor in the Commission’s changing stance lies in its dwindling staff strength. The SEC is recovering from a gale of exodus following plans by President Donald Trump and Elon Musk to reduce the government’s workforce.
“Creativity is probably not where we want to be,” said Waldon, hinting at a steep drop in employee numbers.
A restructuring of the defunct Crypto Assets and Cyber Unit and the launch of a Crypto Task Force signals a change in direction. The Crypto Task Force is pursuing roundtables with ecosystem players rather than regulation by enforcement that characterized the SEC.
The SEC has to respond to a FOIA request filed by Coinbase seeking clarity over the financial implications of its five-year enforcement over the cryptocurrency industry.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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