On the sidelines of its run-ins with the SEC, Ripple (XRP) has filed an application to register as a digital asset service provider in the UK. We take stock.
Ripple is interested in the UK
Lately, Ripple (XRP) made the news by winning a battle against the Securities and Exchange Commission (SEC), although this showdown is not over. On the strength of this half-victory, the company filed an application registration as a digital asset service provider in the UKaccording to comments reported to our colleagues at Cointelegraph by a Ripple spokesperson.
In addition to this approach made to the Financial Conduct Authority (FCA), it has also been reported that the company is aiming to obtain a license in Ireland “as part of its massive regional investment“. However, the objectives and motivations of these different approaches have not been reported.
👉 To go further — How to buy XRP from Ripple?
Buy crypto on eToro
Note that the United Kingdom enjoys a certain popularity with players in the cryptocurrency ecosystem, in response to persistent regulatory uncertainty in the United States. And for good reason, for example, the country was recently chosen by the investment fund Andreessen Horowitz (a16z) for its first office outside the United States, while last spring Brian Armstrong, CEO of Coinbase, met with local authorities to discuss regulation.
Furthermore, Brad Garlinghouse, the CEO of Ripple, did not mince words this weekend vis-à-vis the SECaccusing her of having herselfcreated this mess proclaiming she was the crypto beat cop“.
An important topic has come up about protecting retail. The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences.
— Brad Garlinghouse (@bgarlinghouse) July 22, 2023
After a vertical rise to $0.94 about ten days ago, the price of XRP has since corrected slightly, and the asset is now trading at just under $0.70 as of this writing, in 5th place among the largest crypto caps.
On the same subject — Victory of Ripple’s XRP: what lessons can be learned for the cryptocurrency ecosystem?
Confused and overwhelmed by cryptocurrencies? 🤔
Spot opportunities and make informed investment decisions 🔎
Source: Cointelegraph
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page may feature investment-related assets, products or services. Some links in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
768 items
;Resize=(1200,627)&impolicy=perceptual&quality=medium&hash=bf303b84279dece9ebbfb9a4fa3f210a500d090e71a35ef455cf6db2037b2e65 "Social Chain AG – “Lion’s Cave” startup by Dümmel and Kofler insolvent – that’s what the investor says")