Ripple is urging the UK to ignite crypto leadership with four bold regulatory moves that will spark explosive innovation, massive investments and unstoppable blockchain-driven financial control.
New recommendation setting stage for the UK’s explosive crypto power shift
Ripple revealed on June 18 that momentum is accelerating in the UK’s efforts to define a regulatory framework for crypto assets. The London Policy Summit, hosted by Ripple in collaboration with the UK Blockchain Technology Centre and Innovation Finance, has reviewed the recent government initiative, where experts and officials position the UK as a leader in digital assets. Ripple highlighted the importance of these developments, Prime Minister Rachel Reeves’ ambitions outlined in April, and then highlighted the HM Treasury’s statutory law and Financial Conduct (FCA) consultations on steady, custody and careful surveillance. The digital asset company also pointed out new participants joining the Digital Securities Sandbox along with the launch of a pilot for Digital UK Government Bonds.
In a white paper released after the summit, Ripple outlined four specific recommendations: First, governments must act quickly to finalize the regulatory framework that attracts investment. The crypto company said:
Governments and regulators need to act at a pace to develop regulatory frameworks for crypto assets that drive investment and growth. This is important to seize the opportunity that the UK will be offered to early initiators and digital asset advocates.
Second, Ripple urged UK regulations to match global standards to prevent conflicting obligations. Third, Crypto companies have recommended rapid regulation of Stablecoins, allowing Stablecoins issued overseas to be distributed domestically without local issuance requirements. Fourth, bold strategies are needed to overcome legal, regulatory and tax barriers to strengthen UK leadership in tokenization. Ripple highlights the possibilities, saying:
The UK’s opportunities are enormous. If the regulatory framework is designed correctly, it can promote innovation, strengthen financial inclusion, and solidify the UK’s position as a competitive global financial centre.
Ripple highlighted the transformational power of blockchain, particularly its role in streamlining payments, expanding financial access and increasing transparency. With over 90% of the world’s leading financial institutions working in crypto assets by 2024, Ripple and Summit participants emphasized that rapid regulation evolution is important for the UK to capitalize on growing market demand and strengthen its position in global finance.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
