| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107308.3500000000 |
| ETH | $2436.4420000000 |
| BNB | $648.6797100000 |
| XRP | $2.1848960000 |
| ADA | $0.5652131000 |
| SOL | $150.6931000000 |
| DOGE | $N/A |
| DOT | $3.4037100000 |
| LTC | $86.2473000000 |
| LINK | $13.4017000000 |
Category: CRYPTO NEWS
The post XRPL Launches Deep Freeze to tackle Sanctions and Compliance appeared on BitcoinEthereumNews.com. The Deep Freeze amendment has been added to the XRPL to increase compliance, security, and attract institutional trust. This gives issuers a powerful tool to preserve compliance and prevent spurious activity and regulatory matters, furthering peace of mind and control in high-risk circumstances. The XRP Ledger (XRPL), a public blockchain launched in 2012 by Ripple Labs has now launched an update to its compliance toolset with the “Deep Freeze” feature. The feature, according to Shawn Xie, bridges the gaps of the existing Trustline Freeze, which has limitations on single assets. Previously, an issuer would have to freeze each asset on a per-user basis, which was not optimal for wide-scale compliance demands. While users can still hold and transfer their remaining balances, the freeze prevents any new transactions on the affected trustlines, providing a more effective way to manage compliance. This new protocol-level tool gives token issuers more control over the assets they issue, helping them meet essential regulatory requirements, prevent fraud, and adhere to sanctions compliance. The feature is useful for entities that use XRPL to create tokenized real-world assets (WRAs), stablecoins, or other forms of financial instruments. Multiple stablecoins, including Ripple’s RLUSD, Societe Generale Forge’s EURCV, and Braza Bank’s BBRL, have been issued on XRPL and are taking advantage of the platform’s compliance functions. The report reads, “it would benefit from attracting major regulated stablecoin issuers like Circle, who rely on the ability to freeze, send, and receive functions for sanctioned addresses.” What Is Deep Freeze? The Deep Freeze function, which was standardized in amendment XLS-77d, allows token issuers on the XRPL to freeze all assets held by a specified account at the protocol level. Unlike the existing trustline freeze that just stops new transactions, Deep Freeze goes a step further to restrict all outgoing transactions, putting the assets in a state of…
2025-05-08T03:43:07+00:00