White Paper on UK Crypto Regulation

The cryptocurrency company Ripple has a growing presence in the UK. According to Ripple’s head of public policy, this is a good thing, but there are challenges. “PIn order to operate as efficiently as possible here, to continue to grow our business, it is important to know what the regulatory framework is like.”, she said. In this context, the XRP issuing company has decided to make proposals to British lawmakers and regulators.

A series of rules aimed at making the UK a crypto hub

November 15, ripple has announced on Twitter that developed a white paper This one is about the regulation of cryptocurrencies in the UK.. The company said: “Crypto solutions present a dynamic opportunity for UK financial and commercial players. But proper regulation is essential to achieve this.“.

the proposed document It was developed by Susan Friedman and Andrew Whitworth. They are respectively the Public Policy Officer and the Policy Director. Ripple explained that this white paper for regulators details “how the uk can become a crypto hub“. As a reminder, the country had expressed its ambition in this sense.

The Ripple White Paper

The company mainly recommends implement a comprehensive legal framework. This framework will need to evaluate cryptos, taking into account different risk profiles. The publication of the white paper comes at a time when the UK is considering a Financial Markets and Services Bill, taking cryptocurrencies into account.

Proposals inspired by various jurisdictions around the world

The proposals contained in the white paper offered by Ripple have been developed taking into account the rules of other jurisdictions. These are in particular the Dubai, Singapore and EU jurisdictions. The latter have taken the lead in terms of establishing a regulatory framework for cryptocurrencies.

Susan Friedman said:We are aware that the UK may not be a first mover in all these areas and we believe there is an advantage to this.“.”It is useful to see how different frameworks develop and adopt best practices.“, she added.

Ripple’s policy director wants UK regulators to consider Ripple’s proposals the company. “This should work, as it is the same bill that creates an institutional framework and also includes crypto in the financial regulatory space.“, he stressed.

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Luc Jose Adjinacou

Far from dampening my enthusiasm, a failed cryptocurrency investment in 2017 only added to my enthusiasm. Therefore, I resolved to study and understand the blockchain and its multiple uses and to transmit with my pen information related to this ecosystem.

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"Professional food trailblazer. Devoted communicator. Friendly writer. Avid problem solver. Tv aficionado. Lifelong social media fanatic."

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