Ripple to Urge UK to Regulate Crypto

Ryan Zagone from Ripple urges Britain to follow Japan's example
16 April 2018   1165

The developer of the Ripple urged the British regulators to follow the example of Japan and introduce new rules to put an end to the "Wild West" in the cryptocurrency market. This is reported by The Telegraph.

Ryan Zagone, head of relations with regulators Ripple, said that Britain needs to strike a balance between "risk containment and the development of innovation." He pointed to 3 "pillars" that lawmakers should take into account when developing appropriate rules: investor protection, combating money laundering and financial stability.

We’re at that time now where we need more clarity and rules and we need more certainty. It’s a good time to start revisiting that ‘wait and see’ ­approach taken by regulators.
 

Ryan Zagone

Head of relations with regulators, Ripple

Zagone argues that Japan is a leader in this field, and that other countries, particularly Britain, can use it as an example.

Last month, Chancellor of the Exchequer Philip Hammond announced the creation of a new working group that will help "manage the risks associated with crypto assets" and protect investors. The group included representatives of the Treasury, the Bank of England and the Office of Financial Regulation and Supervision.

Nevertheless, Zagone believes that measures taken by the government are not enough.

Santander to Deny XRP Token Usage Info

It turned out that bank uses xCurrent in One Pay FX instead of XRP token for international payments, as it stated earlier
25 March 2019   71

Santander, a large Spanish bank, in its Twitter spread incorrect information about cooperation with Ripple.

And although the majority of cryptocurrency holders reacted positively to the statement of Santander, some of them drew attention to the fact that this news had no effect on the growth of XRP trading volume.

It soon became clear that the bank provided incorrect information.

xCurrent allows Ripple customers to make payments using Fiat as well as digital currencies. A similar product, the operations in which are carried out using XRP cryptocurrency, is called xRapid.

Despite the official apology, some commentators suspected the bank of manipulating the market.