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Ripple obtains Singapore payment license Ripple speaks out say
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Date:2024-04-25 18:53:17 Channel:Build Read:
Amid a wave of innovation in the digital currency space, Ripple is once again in the spotlight. Recently, Ripple successfully obtained a payment license in Singapore. This news quietly exploded like a bombshell, triggering heated discussions in the industry. Even more striking is Ripple’s unabashed statement that the United States is no longer the leader in cryptocurrency regulation, a statement that caused a huge response. This article will delve into the significance behind Ripple’s acquisition of a Singapore payment license, explore the current status of U.S. encryption regulation and its impact on the global digital currency market.As the world's leading blockchain payment technology company, Ripple's news of obtaining a Singapore payment license can be described as another successful milestone. Singapore has always been known for its open and inclusive regulatory environment, making it the first choice for many blockchain companies. The reason why Ripple chose to obtain a payment license in Singapore is undoubtedly because of its superior regulatory atmosphere and opportunities for innovative cooperation. This also further consolidates Ripple's legal status globally and lays a solid foundation for its future development.Obtaining a Singapore payment license this time is of great significance to Ripple. First of all, this means that Ripple can legally carry out digital currency payment services in the Singapore market, providing local users with a more convenient and efficient cross-border payment experience. Secondly, Singapore’s regulatory recognition will also provide strong support for Ripple to strive for partners and market access in other countries, expanding its international business territory. It can be said that the acquisition of this license has given Ripple a boost in its globalization strategy and opened up new space for its future development.Just as news broke that Ripple had obtained a payment license in Singapore, Ripple's bold words also attracted widespread attention. Ripple executives have been outspoken in saying that the United States has lost its leadership in cryptocurrency regulation. Although this statement is ironic, it is also true. In recent years, the United States' stance on cryptocurrency regulation has been controversial, and the uncertainty of regulatory policies has given other countries and regions more development opportunities. The rise of Singapore is a vivid example. Its open and inclusive regulatory attitude has attracted many blockchain companies and has become a hot spot for global digital currency innovation.For the United States, Ripple’s remarks are undoubtedly a loud slap in the face. As a global leader in financial technology, the United States has always been the center of digital currency innovation. However, with frequent changes and uncertainty in regulatory policies, more and more companies are beginning to look overseas for a more friendly development environment. The reason why Ripple chose to obtain a payment license in Singapore is also a response to US regulatory policies. The United States' lag in cryptocurrency regulation has put its once-leading position in jeopardy. It must be vigilant and speed up to follow up in order to maintain its advantage in global competition.Overall, Ripple's acquisition of a Singapore payment license and Ripple's outspoken stance on U.S. encryption regulation reflect the rapid development of the digital currency industry and the intensity of global competition. As countries continue to explore and innovate in the fields of blockchain technology and digital currency, differences in regulatory environments, policies and regulations will become increasingly prominent. For enterprises, it is crucial to choose the right development location and strategic partners; for regulators, it is necessary to balance innovation and risk management and control to create a good environment for industry development. The future of digital currency is full of challenges, but also contains huge opportunities. Let us wait and see and witness this exciting moment of era change.The four most famous international exchanges:
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Coin Circle (120Btc.com) News: If we say that the crypto exchange and Coinbase, which were sued by the U.S. Securities and Exchange Commission (SEC) this year, are very aggrieved, then we must mention that Ripple has been in litigation with the SEC for 2 years.
How painful Labs is feeling, the two parties are facing off in court, because the SEC accused Ripple (XRP) of being a security. On the 13th of this month, at the request of Ripple, the U.S. court disclosed the SEC’s former director of finance, William, who was classified as highly confidential by the SEC.
Hinman's 2018 speech and other related documents, which contain oral statements such as "Ethereum is not a security," may bring Ripple's lawsuit to a happy ending.
Drawing attention away from the United States, Ripple does not simply stick to the US market and fight with regulatory agencies. At the same time, it also continues to start new ventures around the world, pursuing globalization and stabilizing Ripple's future development. Today it is reported that Ripple has obtained a license in Singapore. Important operating license.
Ripple obtains Singapore payment license
According to The Block, Ripple
Labs has currently received in-principle approval for a major payment institution license from the Monetary Authority of Singapore (MAS) and should formally obtain the license after a period of time. This payment license allows Ripple to provide digital asset payment services to customers in Singapore under compliance conditions.
Ripple CEO Brad
Garlinghouse said: Singapore has once again become a global leader in digital assets. It will be good for the global financial system to formulate clear rules and recognize the innovation of digital assets and its utility in the real world.
In a statement on Wednesday (21st), Ripple said that Singapore’s payment license can further expand customers’ liquidity in crypto assets and allow financial institutions to use XRP for cross-border remittances.
Ripple: America lost
Ripple Chief Legal Officer Stu
Alderoty said that countries including the United Kingdom and the United Arab Emirates are working hard to establish clearer digital asset regulations because the United States has not adopted a forward-looking regulatory approach and does not even have a feasible regulatory framework for the encryption industry to survive in the United States. Not to mention thriving in America.
Ripple's attorney general's words were quite serious. He said: "The United States has failed."
Ripple has cooperated with central banks and institutions outside the United States on a large scale. On the 15th of this month, it was reported that Ripple and the Bank of Colombia were cooperating to enhance the country’s payment system for the issuance of CBDC.
Previously, Ripple also contacted and cooperated with the central banks of Hong Kong, Montenegro (Montenegro), Bhutan, Palau and other authorities.
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