Ripple: UK’s FCA has strengthened crypto regulations in the country, claims Head of Regulatory Relations

2019-5-2 15:30

Crypto-proponents and companies have played their role in ensuring the wider and mainstream adoption of cryptocurrencies. During the recently concluded IFGS2019, Dan Morgan, Ripple’s Head of Regulatory Relations, Europe, spoke about the regulation of digital assets, as well as country-specific rules.

Morgan stated that the main focus of Ripple right now is dealing with regulations and ensuring that they do not affect day to day transactions. He claimed that for Ripple, 2019 is the year for changing the global standard. The Ripple official also spoke about the reasons why the United Kingdom was conducive to cryptocurrencies and the concept of digital assets, in general. In his words,

“The United Kingdom has been a place that has generated and created regulations very quickly and I am positive that it will be done for crypto also. The Financial Conduct Authority [FCA] which controls the regulations has strengthened the country. Despite the political turmoil in the country, the investments into the space have gone up.”

The FCA was also in the news recently after regulated e-money agent, PayGlobal, considered the addition of XRP to its platform. The platform used a Twitter poll for the same, with XRP grabbing 88 percent of the votes while EOS and LC shared 12 percent.

Dan Morgan further stated that institutions getting into the space had contributed massively to the movement of the industry.

Ripple was also in the news recently when it partnered with Ria Financial Services to “pump up” cross-border trading. The news was revealed to users in the space through @ANT1596954, a Twitter user who quoted the words of Michael J Brown, CEO of Ria Financial Services,

“We signed an agreement with Ripple that gives Ripple access to Ria’s global physical and digital footprint, also allowing Ria’s customers to connect and transact with Ripple’s network which includes more than 200 financial institutions worldwide”

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