Pro-XRP lawyer Bill Morgan responded to the recent announcement of Infinite Block, a Korean virtual asset service provider, joining as a validator in the XRP Ledger (XRPL). Moreover, he emphasized the significance of this development within the XRPL ecosystem. Morgan, known for his advocacy of Ripple and XRP-related initiatives, expressed his views on the matter.

Infinite Block Joins XRP Ledger

Morgan’s statement indicates the broader implications of such a move within the context of recent validator additions to the XRPL network. He commented on the timing of Infinite Block’s participation shortly after SBI Holdings’ SBI VC Trade became an XRPL validator. Morgan remarked, “Can’t be a coincidence so soon after the SBI entity became an XRPL validator.”

In addition, he drew attention to the strategic alignment between these validator additions. This highlights the potential synergies and collaborative efforts shaping the XRPL landscape. Infinite Block’s decision to participate as a validator in the XRPL ecosystem holds significant implications for both domestic and international expansion efforts.

South Korea boasts a robust blockchain regulatory framework, characterized by adherence to regulations such as the Travel Rule and anti-money laundering measures. Hence, Infinite Block’s involvement reinforces the commitment to regulatory compliance and fosters a safe environment for XRPL projects and investors alike.

CEO Jung Gu-tae of Infinite Block articulated the company’s commitment to regulatory compliance and user protection, stating, “As a fully regulated custodial business operator, we will provide blockchain regulatory support infrastructure suitable for the institutional characteristics of the Korean virtual asset industry.” By prioritizing regulatory compliance, Infinite Block aims to enhance the reliability of XRPL both domestically and internationally.

Furthermore, it also aims to facilitate governance participation and ecosystem expansion. The convergence of regulatory compliance and technological innovation underscores the potential of XRPL as a decentralized layer 1 blockchain supporting XRP.

Also Read: Pro-XRP Lawyer Draws Differences In Japan and US Crypto Regulation

About SBI Holdings’ Recent Announcement

SBI VC Trade, a prominent crypto firm based in Japan, announced its node operation as an XRPL validator on Friday, May 10. This signalled a concerted effort to enhance the XRPL ecosystem. By leveraging its position as a trusted validator within the network, SBI VC Trade aimed to contribute to ecosystem development while reflecting the voices of the XRP holder community in Japan.

In a recent announcement on May 10, SBI VC Trade declared its transition to a validator role. Hence, it positioned itself to join the esteemed ranks of ‘trusted validators’ on the network’s Unique Node List (UNL).

Looking ahead, the company hinted at the potential influence it could wield as a registered validator within the UNL. This indicates a willingness to participate in voting decisions regarding new features and developments on the network.

Whilst, the XRP advocate, Morgan, took to X’s platform to shed light on this noteworthy development. Morgan’s post, exclaiming “Really Good News” stirred a wave of optimism within the XRPL community, enhancing confidence in the future prospects of XRP.

Also Read: XRP Price Slips Below $0.5 As Whale Offloads 30M XRP, What’s Next?

The post XRP Lawyer Reacts To South Korea’s Infinite Block Joining As XRPL Validator appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am