Ripple reveals stance on UK's newly unveiled plans for crypto regulation XRP $XRP XRPCommunity XRPArmy XRPholders
The government presented some proposals in a much-awaited consultation released on Tuesday. This, it says, marks the next phase in its approach to regulating crypto assets.
One of the proposals would strengthen the rules for financial intermediaries and custodians who hold cryptocurrencies on behalf of clients., Ripple's MD for Europe, shared her optimism for 2023 and went on to make eight bold crypto predictions.In her words, Young predicted that"Crypto regulation will arrive in the UK and Europe.
With the just-released crypto consultation, this appears to be already on track. It is thought that the latest move may bring clarity to the cryptocurrency industry., praised the U.K. for its crypto regulation move while urging the government to look to further collaboration with the private sector: "By publishing its crypto consultation, the UK government is taking a big step towards putting an appropriate regulatory framework in place for the industry. From today, the government should encourage further collaboration with the private sector to devise a comprehensive, risk-based framework which aligns with international best practice. That’s how the UK will showcase crypto leadership and reap the rewards promised by this technology," Whitworth stated.
Meanwhile, the cryptocurrency market awaits meaningful crypto legislation to arrive in the U.S., with CryptoLaw founder John Deaton predicting that the earliest this might come may be in 2025.
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