XRP price goes up after Ripple wins court case against SEC.
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The price of XRP, a cryptocurrency, went up a lot because the U.S. government stopped its case against Ripple, the company behind XRP. The case was about whether Ripple followed the rules when it sold XRP a few years ago.
The government agency in charge of this, the SEC, used to say that cryptocurrencies are like stocks and need lots of rules. But now, the SEC is changing its mind and might have fewer rules for cryptocurrencies.
Ripple's CEO, Brad Garlinghouse, said he was happy the case was over and that the SEC was wrong. Other cryptocurrency companies also said the SEC stopped cases against them.
The new leader of the U.S., wants the U.S. to be a leader in cryptocurrencies and is making changes to help them. He created a special group to study cryptocurrencies and wants the government to have its own bitcoin.
The cryptocurrency world wants to be more involved in politics and finance. They spent a lot of money to help elect the new U.S. leader and other politicians who like cryptocurrencies.
Questions
Why did the price of XRP go up?
The price of XRP went up because the U.S. government stopped its case against Ripple.
What did the SEC used to say about cryptocurrencies?
The SEC used to say that cryptocurrencies are like stocks and need lots of rules.
What does the new U.S. leader want to do with cryptocurrencies?
The new U.S. leader wants the U.S. to be a leader in cryptocurrencies and is making changes to help them.
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