Ripple has filed an application with the UK Financial Conduct Authority (FCA) to register as a cryptocurrency company. This is reported Cointelegraph with reference to a company representative.
As part of its regional expansion, Ripple also plans to obtain a payment license in Ireland, he said.
The application for registration with the FCA followed the partial victory of the company in a lawsuit with the SEC. The US regulator filed a lawsuit against the company in December 2020. The agency accused Ripple of distributing about $1.3 billion worth of unregistered securities in the form of the platform’s native tokens. On July 13, 2023, Judge Analisa Torres ruled that selling XRP directly to institutional investors violated SEC rules, but offerings to retail investors on exchanges did not.
Representatives of the commission, during the consideration of the lawsuit against Terraform Labs and its CEO Do Kwon, asked the judge not to take into account the decision on Ripple, since it could be appealed.
According to Ripple lawyer John Deaton, the appeal will not be a serious setback for the company. The court of second instance will take up to two years to reach a verdict. In the meantime, Judge Torres’ ruling will stand, the lawyer said.
Data: Twitter.
In October 2022, Rishi Sunak took over the British government. In his former position as head of the Ministry of Finance, he was remembered for his benevolent attitude towards digital assets. In April 2022, the politician announced his desire to turn the country into a “global hub of crypto technologies.”
Even before the end of the year, such industry players as the Kraken exchange and the infrastructure provider MoonPay received approval as cryptocurrency companies from the FCA.
In 2023, the expansion of business in the British market was announced by the founders of Gemini, the Winklevoss brothers, and the venture capital fund Andreessen Horowitz.
Recall that in June, the FCA included the Bitstamp bitcoin exchange in the registry, and the local division of Binance canceled its registration.
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2023-07-23 09:45:00
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