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XRP Ledger developers propose fixes to close restricted token loopholes

A package of four proposed code changes for the XRP Ledger would prevent unapproved accounts from receiving or holding permissioned tokens, reinforcing issuer controls used by regulated assets.

XRP Ledger logo and wordmark in white against a black background.
Image: @analyticsinme

Developers working on the XRP Ledger core software have proposed four code fixes designed to close loopholes that allowed restricted tokens to reach unapproved accounts, according to CoinDesk and BSCN. The changes aim to ensure that accounts lacking issuer approval cannot receive or hold tokens requiring permission, an enforcement setting commonly utilized by tokenized funds and regulated stablecoins.[3][4][5][6]

Under the proposed adjustments, users would need explicit authorization for both tokens in an automated trading pool before an account can buy in. In addition, another rule change would restrict unapproved balances so they can only be transferred back to the token's original issuer. The XRP Ledger Foundation noted that no users were affected and reported no known outsider exploitation from the identified loopholes.[2][4][6]

The bundled fixes are packaged into a broader cleanup upgrade known as fixCleanup3_5_0. The changes have not yet been activated on mainnet; to take effect, the amendment must secure approval from at least 80% of network validators continuously for two weeks.[1][2][4]

Key facts

  • XRP Ledger developers proposed four code changes bundled together to prevent restricted tokens from reaching unapproved accounts.
  • Restricted token settings are used on the network by regulated stablecoins and tokenized funds.
  • The rules would require an account to have approval for both tokens in a trading pool to buy in, and would restrict unapproved balances to only return to the issuer.
  • The XRP Ledger Foundation reported that no users were affected and there was no known outsider exploitation.
  • The fixes are packaged into the fixCleanup3_5_0 upgrade and require 80% validator approval over two weeks before activating on mainnet.

Sources 路 6 sources

  1. CN

    crypto.news@cryptodotnewsPost on X 路

    JUST IN: XRP Ledger developers propose upgrade to block restricted tokens from reaching unapproved accounts The proposal bundles four code changes designed to close existing loopholes, although the update still requires validator approval before it can be activated on the $XRP Ledger mainnet.

    Open source
  2. AI

    Analytics Insight@analyticsinmePost on X 路

    饾棲饾棩饾棧 饾棢饾棽饾棻饾棿饾棽饾椏 饾棧饾椆饾棶饾椈饾榾 饾棫饾椉饾椄饾棽饾椈 饾棛饾椂饾槄饾棽饾榾 饾棶饾榾 饾棪饾棸饾椀饾槃饾棶饾椏饾榿饾槆 饾棩饾棽饾椃饾棽饾棸饾榿饾榾 饾棲饾棩饾棧 饾棪饾榿饾棶饾椄饾椂饾椈饾棿 XRP Ledger developers propose four token approval fixes, while David Schwartz questions native staking and its reward model. The network has yet to activate the upgrade, and the Foundation reports no known outsider exploitation. #XRP #XRPL #XRPLedger #Blockchain #CryptoNews #Staking #AnalyticsInsight #AnalyticsInsightMagazine Read More 馃憞 https://t.co/hfdol6W3GF

    Open source
  3. CO

    CoinDesk@CoinDeskPost on X 路

    NEW: XRP Ledger developers propose closing loopholes that allow restricted tokens to reach unapproved accounts, with four code changes bundled into a single upgrade that still needs validator approval before activating on mainnet. https://t.co/q4ZiZb6Q3A

    Open source
  4. BS

    BSCN@BSCNewsPost on X 路

    XRP Ledger developers move to close loopholes around restricted tokens Four code changes were proposed this week for the @XRP Ledger鈥檚 core software. Those would stop accounts without issuer approval from receiving or holding tokens that require it, a setting that is used by regulated stablecoins and tokenized funds. Users would require approval for both tokens in a trading pool before an account can buy in. Another proposal would let unapproved balances only go back to the issuer. The fixes are still under review and would switch on through fixCleanup3_5_0, a wider cleanup upgrade for the $XRP network. Like every XRP Ledger amendment, it needs support from at least 80% of validators for two weeks before it goes live on mainnet.

    Open source
  5. CB

    Crypto BriefingArticle 路

    XRP Ledger developers propose four fixes to close restricted token loopholes The proposed fixes aim to enhance protocol security, ensuring issuer control over token distribution, which could bolster network trust. The post XRP Ledger developers propose four fixes to close restricted token loopholes appeared first on Crypto Briefing .

    Open source
  6. CO

    CoindeskArticle 路

    XRP Ledger developers tighten the rules for who can hold 'restricted' tokens A set of fixes would tighten who can hold permissioned tokens on the network. The XRP Ledger Foundation says no users were affected.

    Open source