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Global payments network Ripple has secured a major victory by obtaining official regulatory approval to provide crypto services in Ireland from the Central Bank of Ireland.&nbsp; 
<h2 id="ripple-s-regulatory-triumph">Ripple’s Regulatory Triumph</h2> 
Last week, the <a href="https://ripple.com/ripple-press/ripple-added-to-central-bank-of-irelands-virtual-asset-service-providers-register/" rel="nofollow noopener" target="_blank">Ripple team </a>made a major announcement celebrating the addition of Ripple Markets to the Central Bank of Ireland’s Virtual Asset Service Providers (VASP).&nbsp; 
With this approval, <a href="https://bitcoinist.com/ripple-claims-11-million-in-ftx-bankruptcy-case/">Ripple gains the green light</a> to provide digital asset services in Ireland. The endorsement will list Ripple’s Irish subsidiary, Ripple Markets Ireland Limited, in the Central Bank of Ireland VASP portfolio.&nbsp; 
Additionally, the approval stands as a testament to Ripple’s vision for <a href="https://bitcoinist.com/ripple-expands-its-arsenal-fortress-trust-joins/">global expansion</a> and its commitment and compliance with regulatory standards. The regulatory success will also open up opportunities for Ripple to provide certain services to users across the European Economic Areas.&nbsp; 
Commemorating Ripple’s newest expansion success, SVP, of Strategic Initiatives at Ripple, Eric Van Miltenburg stated that the addition of <a href="https://bitcoinist.com/highlights-ripple-xrp-report/">Ripple Markets</a> into Ireland would effectively boost Ripple’s exposure and innovative capabilities. He also disclosed that the approval would enable Ripple’s vision towards refining the virtual assets industry.&nbsp; 
“The Central Bank of Ireland’s addition of Ripple Markets to its list of registered virtual asset service providers is a significant step forward for our business in the region. Ireland has positioned itself as a supportive jurisdiction for the virtual assets industry and consequently as a great place for businesses like Ripple’s to operate, reinforcing our decision to select Ireland as our primary base for EU regulation,” Miltenburg stated. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/fjcvVJIT/" alt="XRP price chart from Tradingview.com (Ripple Ireland)" width="3266" height="1530"> 
<h2 id="a-silver-lining-amidst-sec-struggles">A Silver Lining Amidst SEC Struggles</h2> 
Ripple’s latest regulatory victory in Ireland comes as the global payments provider <a href="https://www.newsbtc.com/ripple-2/ripple-ceo-offers-perspective-on-legal-fallout-with-the-sec/" rel="nofollow noopener" target="_blank">struggles with the regulatory challenges</a> arising from its legal battle with the United States Securities and Exchange Commission (SEC).&nbsp; 
The crypto company has been bridled in a three-year-long legal dispute with the <a href="https://bitcoinist.com/ripple-vs-sec-next-steps-after-latest-victory/">SEC</a> after the regulatory agency filed a lawsuit against Ripple in December 2020. Later in July 2023, Ripple gained a partial victory after <a href="https://bitcoinist.com/ripple-judge-deems-xrp-sale-non-investment-contract/">Judge Analisa Torres ruled in favor</a> of the global payments provider, stating that programmatic sales of XRP were not considered securities.&nbsp; 
According to Miltenburg, the Central Bank of Ireland’s regulatory approval of the <a href="https://bitcoinist.com/ripple-sets-sights-on-300trillion-payment-sector/">Ripple</a> Markets will provide much-needed regulatory clarity for the global payments provider and also pave a path for the company’s future development.&nbsp; 
“By providing regulatory clarity for the industry, Ireland and the EU more broadly are boosting confidence in the digital assets, payments, and fintech ecosystem and demonstrating their commitment to the long-term development of these industries,” Miltenburg stated.&nbsp;

Ripple Just Bagged Another Victory To End 2023 In Style

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