A proposed bill on remittance insurances mentions Ripple and XRP as the newest developments in payment channels. Increased cross-border remittances have alerted US regulators to the opportunities for tracking and securing funds.
Potential Future Platform for Significant Remittances
Ripple’s XRP was mentioned in relation to cross-border payment systems in the proposed bill text. The pending action, a document on Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E), is still in discussion until January 2021.
The mention was immediately recognized as potentially positive for XRP on social media.
— Yasuke (Yahs-Kay) (@YasukeTheRonin) December 12, 2019
The document proposes to secure…