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UK regulation is here...(Brad talks about this)


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Brad Garlinghouse last year stated publicly the BofE is paid client of Ripple.  We have to assume this is so.  Please DYOR. https://www.investinblockchain.com/ripple-ceo-bank-of-england-is-our-pa

https://mobile.twitter.com/bgarlinghouse/status/1149444241686327296?s=21 Brad  Applauding UK regulator, for providing clarity & leadership on the classifications of digital assets

So Bank of England is a go. Got it!

Right now our government is in turmoil, I really don't see much clarity coming out until were able to sit down and focus. Heavy Staff turnover is usually a bad sign for any business including a country. I just don't see much getting done in the next 2 years.  We are ripe for the picking for another country to take the lead right now.

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54 minutes ago, RikkiTikki said:

Right now our government is in turmoil, I really don't see much clarity coming out until were able to sit down and focus. Heavy Staff turnover is usually a bad sign for any business including a country. I just don't see much getting done in the next 2 years.  We are ripe for the picking for another country to take the lead right now.

And they will.  and Unless the other country focuses and build fast to take a substantial lead in regulation and tax benefits for both business and consumers, America will catch up and retain its place as the global financial leader.

 

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7 minutes ago, ObeyTheWafflehouse said:

So Bank of England is a go. Got it!

Great point! They are a Ripple client and integrated with Visa and others if I remember correctly. (And Mark Carney/BOE).

But wouldn't we still need broader regulatory adoption/clarity before anything "goes"? 

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I'm glad the regulation ball is rolling, but do we like the direction it is going?

https://www.fca.org.uk/publications/consultation-papers/cp19-22-restricting-sale-retail-clients-investment-products-reference-cryptoassets

 

What does that mean for us, and the price, if regulations remove the average investor from being able to purchase these assets?

Edit: Assuming I am understanding this correctly

Edited by Zerpple
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40 minutes ago, Zerpple said:

I'm glad the regulation ball is rolling, but do we like the direction it is going?

https://www.fca.org.uk/publications/consultation-papers/cp19-22-restricting-sale-retail-clients-investment-products-reference-cryptoassets

 

What does that mean for us, and the short-term price, if regulations remove the average investor from being able to purchase these assets?

Do I read this right, the FCA are considering to ban crypto?

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5 hours ago, itcdominic said:

Let another country start leading in the world of Finance and specifically FINTECH......whats what happens in the USA.

Hang on folks Sh!ts about to get real. And real fast too.

oh no facepalm GIF

Yaz tommorou america xrp standart ant america rapid rapid.

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xrp 589 998 712,10$ eoy.

dj khaled swimming GIF

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https://todaysgazette.com/uks-financial-regulator-clears-air-infers-ripples-xrp-not-security-token/

 

Quote

Financial Conduct Authority (FCA), the United Kingdom’s financial regulator with over 58000 financial services firms under its regulatory watch, has said Ripple’s XRP and Ethereum have similarities, pointing that the two serves as utility token and exchange token.

Quote

 

In its example of tokens that can change over time, FCA says Ether serves as exchange token on the Ethereum platform and can also be used to run applications, hence, the reason it says it is a utility token.

In this regard, the regulatory body avers that Ripple’s XRP “has similar features” with Ethereum, meaning it serves as utility tokens and exchange tokens.

 

and the same sort fo regulatory approval is happening in Thailand

https://news.bitcoin.com/thai-government-approves-new-cryptocurrency-service-providers/

 

Quote

Thailand’s Securities and Exchange Commission (SEC) has officially approved four new digital asset business operators. Under the country’s current regulatory framework for digital assets, which covers both cryptocurrency and digital tokens, a company can apply for a license to operate

an exchange, a broker, or a dealer for cryptocurrency, digital tokens, or both. Separate licenses are required for cryptocurrency and digital tokens.

Quote

 

In March, the Thai SEC announced that four cryptocurrencies had been approved: BTC, ETH, XRP, and XLM. They can be legally used for investments in ICOs and as base trading pairs against other cryptocurrencies. This list replaces the previous one announced in June last year. However, approval does not make these coins legal tender, the regulator clarified.

Sunisa Thamphiban, Assistant Director of the Legal and Development Department at the Thai SEC, emphasized at a public seminar on July 11 that “the Digital Asset Act” aims to “supervise the middleman that will act as an intermediary in the exchange of digital assets.” She elaborated that they must comply with all of the requirements set by the SEC and the Office of the Anti-Money Laundering Committee in order to “prevent the use of digital assets for money laundering.”

 

 

Edited by Julian_Williams
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17 hours ago, XRPboi said:

Great point! They are a Ripple client and integrated with Visa and others if I remember correctly. (And Mark Carney/BOE).

But wouldn't we still need broader regulatory adoption/clarity before anything "goes"? 

There is no evidence they are a ripple client , just because Mr Carney mentioned ripple does not mean they are a partner , crypto moonboys jumping the gun as usual

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2 hours ago, Cooliozxrp said:

There is no evidence they are a ripple client , just because Mr Carney mentioned ripple does not mean they are a partner , crypto moonboys jumping the gun as usual

They did a POC with Ripple

Edit: looks like they are a paid client of Ripple too, haters gonna hate

Edited by denverks
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