After the victory against the US Securities and Exchange Commission (SEC), Ripple‘s developments continue unabated. The cryptocurrency-focused payment giant Ripple had turned its attention to other countries while the uncertainty in the US continued, and despite the positive news related to the lawsuit, it did not show any signs of hesitation. Ripple has taken significant steps for the UK and Ireland.
XRP and Ripple Developments
Sendi Young, Ripple’s European executive, emphasized in her statement that they have applied to the Financial Conduct Authority (FCA), the financial regulator of the UK, and pressed the button to become a regulated payment institution within the UK and Ireland. In fact, the UK represents one of the most important regions for the cryptocurrency sector, especially after the US.
In fact, this move was expected from the UK as well. After the increasing regulatory pressure in the US, the UK and other countries took steps to stand out, and this latest development can be considered as the tipping point. The UK has also taken strong steps to differentiate cryptocurrency activities from gambling activities and has played a leading role in important developments to subject them to different regulations. Furthermore, guidance on regulations is provided to technology companies to advance in the cryptocurrency sector.
Ripple aims to expand its presence as a “legal” entity in many countries. Obtaining a license from the UK is also important for entry into Europe. If London, considered one of the financial capitals of the world, responds positively to Ripple’s request, the price of XRP can also be set in motion.
XRP Price Chart – XRP Coin Review
Each step that increases the use of XRP will also affect its price. Obtaining such an important license by Ripple will directly impact the price of XRP. In the last 24 hours, the XRP price has experienced a 2.3% decrease and is currently trading at $0.77. After the SEC decision, XRP reached $0.91 at intervals, indicating its attempts to reach that level again, which is quite positive.
