Kingdom

United

<![CDATA[<figure class="image"><img src="https://cimg.co/news/125573/331571/chris-larsen.jpeg" srcset="https://cimg.co/news/125573/331571/responsive-images/chris-larsen___media_library_original_719_479.jpeg 719w, https://cimg.co/news/125573/331571/responsive-images/chris-larsen___media_library_original_600_400.jpeg 600w, https://cimg.co/news/125573/331571/responsive-images/chris-larsen___media_library_original_300_200.jpeg 300w" width="719" class="content-img" alt=""><figcaption>Ripple co-founder Chris Larsen. Source: A video screenshot, YouTube / CfC St. Moritz</figcaption></figure><p>The United Kingdom is &ldquo;a home for financial and technological innovation,&rdquo; according to Chris Larsen, co-founder and executive chairman of US fintech and blockchain firm Ripple.</p><p>The comment from Ripple&rsquo;s co-founder came in response to a video shared by UK Chancellor Jeremy Hunt on social media platform X where the UK was referred to as &ldquo;Europe&rsquo;s Silicon Valley.&rdquo;</p><p>&ldquo;Our ambition for the UK economy is for it to be the world&rsquo;s next Silicon Valley,&rdquo; was among the things the UK Chancellor said in the video, while also pointing out that there is &ldquo;massive interest&rdquo; in the original Silicon Valley for investing in the UK.</p><h2 id="we-love-working-in-the-uk-ripple-co-founder-says">&lsquo;We love working in the UK,&rsquo; Ripple co-founder says</h2><p>Also featured in the video was Larsen himself, who said &ldquo;we love working in the UK,&rdquo; and &ldquo;we&rsquo;ve doubled our office there over the last couple of years.&rdquo;</p><figure class="media"><oembed url="https://twitter.com/chrislarsensf/status/1706390594682229099"></oembed></figure><h2 id="regulatory-challenges-in-the-us">Regulatory challenges in the US</h2><p>Ripple has seen its fair share of regulatory challenges in its home market of the US, where it for a long time has been in <a href="https://cryptonews.com/news/ripple-objects-to-secs-appeal-of-ruling-on-crypto-as-non-security.htm">a legal battle with the Securities and Exchange Commission</a> (SEC) over its issuance of <a href="https://cryptonews.com/coins/ripple/">XRP</a> tokens back in 2012.</p><p>As a consequence of these issues, the firm has looked to other countries in an effort to diversify the regulatory risks it faces, and the UK is among those countries.</p><p>Earlier this month, Ripple CEO <a href="https://cryptonews.com/news/ripple-ceo-advises-crypto-startups-avoid-us-suggests-jurisdictions-with-smart-policies.htm">Brad Garlinghouse advised crypto startups to avoid the US</a> due to the country&rsquo;s uncertain policies around digital assets.</p><p>&ldquo;The only country I would not encourage you to start a company right now is in the U.S,&rdquo; Garlinghouse said during a panel discussion at the Token 2049 conference in Singapore.</p><p>As alternatives to the US, he suggested a number of countries with more crypto-friendly rules, including the UK, Singapore, the United Arab Emirates, and Switzerland.</p><h2 id="global-crypto-hub">Global crypto hub</h2><p>The UK government has for several years now attempted to <a href="https://cryptonews.com/news/uk-parliament-votes-recognize-crypto-will-britain-become-crypto-hub.htm">position the country as a global hub for crypto</a>, Web3 and fintech firms.</p><p>Among other things, the government earlier this year <a href="https://cryptonews.com/news/uks-new-financial-law-regulate-crypto-includes-provisions-for-crypto-hub.htm">passed legislation to regulate cryptocurrencies</a> and stablecoins as part of its broader financial regulatory reforms post-Brexit.</p><p>At the time, UK Economic Secretary to the Treasury, Andrew Griffith, hailed the legislation, calling it a &ldquo;landmark piece of legislation&rdquo; that gives control over the &ldquo;financial services rulebook&rdquo; back to the national government.</p><p>"By repealing old EU laws set in Brussels it will unlock billions in investment, cash that can unlock innovation and grow the economy," Griffith said.</p>
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Crypto-Friendly UK Home for Financial Innovation, Ripple Co-Founder Says

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Cryptonews.com

Ďalšie články zverejnené 26. 9. 2023

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