Ripple is hoping to make inroads with politicians in the UK amid its ongoing dispute with the SEC in the United States. The firm has issued a new regulatory whitepaper ahead of expected revisions to the UK’s Financial Markets and Services Bill, which is set to define the nation’s crypto regulation framework.
The core of Ripple’s recommendations center around finalizing “a clear regulatory framework that distinguishes between different types of crypto asset activity,” as led by their respective risk profiles, which Ripple argues can vary widely.
The crypto firm argues that any upcoming legislation should “delineate clearly” between consumer-facing and solely business-supporting propositions. Crypto companies should also be treated differently according to “the level of interconnection with the rest of the economy and hence the potential risk they pose more widely,” according to the paper.
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