SBI Holdings Links XRP Decline to Uncertainty Over US Regulations
Japanese financial giant SBI Holdings, which holds $42.2 billion worth of XRP, believes that the decline in cryptocurrency prices is linked to the uncertainty surrounding US regulations.
The company's Director Yasuo Nishikawa stated that investors are waiting for the outcome of the US Clarity Act, a bill crucial for Bitcoin and altcoins, which has yet to be approved by the Senate.
Nishikawa attributed XRP's decline to the delay in US cryptocurrency legislation, saying that uncertainty caused investors to act cautiously, putting pressure on both the overall crypto market and XRP's price.
Despite this setback, Nishikawa emphasized that SBI Holdings remains confident in XRP as a strategic asset, with the company continuing to hold 6.6 trillion yen ($42.2 billion) worth of the cryptocurrency.