Ripple to Drop Appeal in SEC Case Over XRP Sales (Decrypt)
Ripple will drop its cross appeal in its long-running case with the U.S. Securities and Exchange Commission (SEC) after U.S. District Judge Analisa Torres denied a proposal from Ripple Labs and the SEC to cut a $125 million penalty to $50 million and toss out an injunction that restricted Ripple’s ability to sell its XRP tokens. The SEC is also expected to drop its appeal so everyone can move on. [Read more at X]
Integrating Fragmented Networks: The Value of Interoperability in Money and Payments (IMF)
The IMF published a paper that examines the economic dilemma posed by network effects in digital payment technologies, where dominant platforms can limit user choice while market fragmentation reduces network benefits. Focusing on India’s Unified Payments Interface (UPI), the authors find that interoperability significantly increased digital payment usage, especially in regions with higher initial fragmentation. The unification of networks increased total usage of digital payments by more than 50% in the year after integration. [Read more at the IMF]
Digital Payment Innovations in Sub-Saharan Africa (IMF)
The IMF published a paper that takes stock of developments and policy issues related to digital payments innovations across sub-Saharan African (SSA) drawing on insights from a recent IMF survey of SSA central banks. The paper highlights the critical role of robust digital infrastructure and promotes a competitive, interoperable ecosystem with active private‑sector participation. Mobile money and fast payment systems (FPS) are encouraged as the cornerstone of financial inclusion. Central bank digital currency (CBDC) is seen as a complementary tool but only justified when clear market failures exist. [Read more at the IMF]
Upcoming Speaking Engagements:
The CB+DC Conference (Nassau, Bahamas, September 9-11) is a premier gathering centered on CBDCs, tokenized assets, and stablecoins. It provides a forum for central bankers, commercial bankers, technology innovators, policymakers, and academics to explore the latest advancements in digital currency, engage with experts and peers, and discuss the future of digital currency. [Register here but before you do, email me at john@kiffmeister.com for a 15% discount]
And just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at john@kiffmeister.com.
