Ripple applies for FCA license in the UK
Ripple applies for FCA license in the UK
Ripple has submitted an application to the UK's Financial Conduct Authority (FCA) to register as a cryptocurrency company.
The tech company is also processing a license for crypto payments in Ireland as part of a major regional investment, Cointelegraph reported.
U.S. regulators accused Ripple of violating securities laws by selling $1.3 billion worth of XRP as unregistered securities. On July 13, 2023, District Judge Analisa Torres announced her ruling that selling XRP tokens directly to institutional investors was a violation of SEC rules, while selling XRP to retail investors on exchanges was found to be legal.
SEC lawyers are concerned about the impact of this decision on the case against Terraform Labs and its CEO, Do Kwon. They have appealed, asking the court to disregard the Ripple decision.
Ripple attorney John Deaton believes the appeal will not be a major problem for the company. The Supreme Court will take at least two years to make a decision, and in the meantime, Judge Torres' opinion will stand.
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The UK government is characterized by a benevolent attitude towards digital assets and intends to turn the country into a "global hub of crypto technology".
Earlier, the SEC filed an appeal in the Ripple case.
