Ripple Seeks European Expansion: Applies for Licenses in UK and Ireland After SEC Victory
Ripple is expanding its presence in Europe following a significant legal victory against the US Securities and Exchange Commission (SEC).
After the court ruling that XRP is not a security, Ripple has applied for registration as a crypto asset firm with the UK’s Financial Conduct Authority (FCA) and a payment institution license in Ireland. The company had planned to expand to European countries, including the UK and Ireland, while the SEC lawsuit was ongoing.
The cryptocurrency community deemed Judge Analisa Torres’ recent decision a massive win and a positive development for Ripple’s overall growth and success. Ripple CEO Brad Garlinghouse reaffirmed the company’s commitment to the US, but recent regulatory challenges have led to more developments happening outside the country.
Having received approval for a Major Payments Institution license from Singapore’s central bank, Ripple is now pursuing licenses in the UK and Ireland as part of its expansion strategy.
Clever Robot News Desk 27th July 2023
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