In a world where crypto sparkles as a promise for the future, a new high tide is worth noting: Ripple is trying to anchor itself on the shores of the United Kingdom. In the background, a partial victory against the American market policeman, the Securities and Exchange Commission (SEC), opens up new horizons.
A bold step across the Channel
Riding a tailwind following a partially advantageous ruling against the SEC, Ripple is working to expand its influence. The firm has just applied for registration as a crypto-asset company with the UK Financial Conduct Authority (FCA). A Ripple spokesperson confirmed this initiative to Cointelegraphalso referring to the search for a payment license in Ireland, in parallel with this substantial regional investment.
The move comes after a legal battle with the SEC centered on the classification of Ripple’s XRP token as a financial security. The victory is partial, but noticeable: XRP is considered a security when sold to institutional investors, but not to retail investors. A cloud of uncertainty remains, however, as the case is still subject to appeal by the SEC.
The United Kingdom: a new El Dorado for cryptocurrencies?
As crypto businesses seek a clear and supportive regulatory environment, the UK seems to be emerging as a preferred destination. Andreessen Horowitz, a venture capital firm, recently announced the opening of its first office outside the US in London, citing a “predictable business environment”.
The country seems to be rolling out the red carpet for cryptocurrency companies. Several laws introduced in Parliament aim to establish a regulated environment for crypto. In June, legislation bringing cryptocurrencies under the same regime as traditional assets was signed, granting the UK Treasury, FCA, Bank of England and Payments Systems Regulator authority to introduce and enforce regulations for crypto businesses.
Beyond half-success: Ripple’s horizon
Ripple therefore appears to be deftly navigating regulatory pitfalls, seeking to solidify its position on the international crypto scene. However, the SEC’s final verdict remains in the shadows, adding a note of suspense to this audacious adventure.
Could the UK’s decision to welcome Ripple spark a real XRP crypto rush across the Channel? Can the semi-success against the SEC turn into a total victory, ensuring a bright future for Ripple? The future will tell, but one thing is certain: Ripple is moving forward, determined, in the tumultuous waves of the crypto ecosystem, with the firm intention of conquering its heights.
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