Ripple to Urge UK to Regulate Crypto

Ryan Zagone from Ripple urges Britain to follow Japan's example
16 April 2018   134

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.

Australia Rolls Out New Crypto Exchange

Blockbid Beta launch is set to go live on April 16, 2018
16 April 2018   145

It has emerged that there is a new cryptocurrency exchange which is launching with headquarters in Australia. Previously, we have reported that Australian Transaction Reports and Analysis Centre has announced the new regulatory requirements for digital currency exchange providers which came into force from April 3, 2018.

A week ago, Blockbid exchange became one of the recipients of an AUSTRAC license, meaning they have been granted permission to legally operate as a cryptocurrency exchange, according to Australian law. Blockbid is a secure exchange with the goal of facilitating the highest volume of trades for the most cryptocurrencies with a single login.

Blockbid announced in its press-release that its Beta launch is set to go live on April 16, 2018. The platform will allow operation in fiat and cryptocurrency, including Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BCG), Litecoin (LTC), Ripple (XRP), USD, AUD, JPY and EUR.