Ripple the first legal crypto currency in UK? https://www.kryptovergleich.org/wird-ripple-als-erste-kryptowaehrung-england-offiziell-akzeptiert/

[kbull]

https://www.kryptovergleich.org/wird-ripple-als-erste-kryptowaehrung-england-offiziell-akzeptiert/

here some google-translated issues in this article (originally in german):

Ryan Zagone is the head of Regulatory Relations at Ripple. Zagone recently posted an article on the ripple website. In it he described the dialogue between Ripple and the regulators and politicians in the British Parliament.

 

Zagone wrote: "So far, most conversations have always said," Blockchain is good, cryptocurrencies are bad. " Now it seems that Members have been working deeper and deeper into the technology. The opinion therefore seems to change. Today's talks are more focused on the application of blockchains and cryptocurrencies in the real world. "

Zagone continued: "It is clear today that cryptocurrencies are tools. Whether they are good or bad depends entirely on how they are used. Think of a hammer. You can use it when building a house or as a weapon. To prevent the latter case, there are laws and penalties. Whether a hammer is "good" or "bad" depends only on its use. The same applies to cryptocurrencies. The technology has great potential and many positive uses. Ripple's work, which aims to efficiently link crypto and fiat currencies, is an example of this. "

Zagone closed his report by writing: "For this kind of innovation to grow and flourish, you need balanced regulations. We are optimistic and assume that the overall discussion will develop. Hopefully, many will realize that an impartial approach to cryptocurrency regulation is the best approach. This would create a new era of global trade and financial inclusion. At the same time, it would ensure the safety of the market and protect consumers. "

There seems to be a basic consensus between Ripple and the UK cryptocurrency working group. This is the common view that regulation must protect customers and at the same time enable innovation. This means that regulators should focus on controlling security and data. However, the free choices offered by the blockchain should not be compromised. Innovation can be encouraged - if regulation allows it.

 

Edited May 4, 2018 by kbull

[SamK]

With Brexit just around the corner, it makes sense for the UK government to be innovative to keep the City of London a major financial centre