Ripple Makes a Splash: Applies for Crypto License in the UK

[Emon]

 

Ripple, the payments network and technology company, is making waves by applying for a crypto asset firm registration with the UK's Financial Conduct Authority (FCA). This move comes after a partial win against the US Securities and Exchange Commission (SEC) regarding the status of its XRP token.

The UK has become a sought-after destination for crypto firms due to its clear regulations and supportive business environment, especially amidst increased enforcement actions in the US.

Ripple's strategic decision to enter the UK market and pursue a payments license in Ireland shows its commitment to expanding in the region and benefiting from a stable and regulated business climate.

Recent laws in the UK demonstrate the country's dedication to fostering a crypto-friendly ecosystem, treating cryptocurrencies like traditional assets and enabling authorities to introduce and enforce crypto-related regulations.

Even venture capital firm Andreessen Horowitz (A16z) acknowledges the appeal of the UK, establishing its first international office in London to benefit from the predictable business environment.

Additionally, the UK government is working on enhancing its capability to tackle illicit crypto use, ensuring better confiscation and recovery of crypto assets.

With Ripple's application awaiting approval, the crypto community eagerly awaits further developments in the UK's growing crypto landscape. The UK's emergence as a potential crypto innovation hub makes Ripple's move all the more exciting for the industry.

[Bash4j]

Ripple has come a long way in the past year, and the recent success against SEC is a battle for the entire blockchain community. So is the move to apply for a regulatory license. A lot of crypto exchanges have applied for licenses to strengthen the exchange's presence in the #EU and US sub-region. Ripple’s ambition doesn’t stop at the UK. The firm is reaching for a piece of the European pie as well, applying for a payment institution license in Ireland. 
The UK Believes that blockchain and cryptocurrencies have the potential to transform the world in the future has continued to gain huge traction with top CEXs keying to boost their user base and trading experience.

[Emon]

6 hours ago, Bash4j said:

Ripple has come a long way in the past year, and the recent success against SEC is a battle for the entire blockchain community. So is the move to apply for a regulatory license. A lot of crypto exchanges have applied for licenses to strengthen the exchange's presence in the #EU and US sub-region. Ripple’s ambition doesn’t stop at the UK. The firm is reaching for a piece of the European pie as well, applying for a payment institution license in Ireland. 
The UK Believes that blockchain and cryptocurrencies have the potential to transform the world in the future has continued to gain huge traction with top CEXs keying to boost their user base and trading experience.

Meanwhile binance is being declined from several countries like Canada/US... What should traders do in that case?