As it increases its operations in Europe, Ripple is requesting a virtual asset service provider license from the Irish authority, according to CNBC.
According to the company’s general counsel Stuart Alderoty, Ripple is seeking a virtual asset service provider (VASP) license and already has two workers in the country, which is a member of the European Union.
The US-based company is looking for business abroad because it is involved in a dispute with the Securities and Exchange Commission. Alderoty stated:
“Essentially, its customers and its revenue are all driven outside of the U.S., even though we still have a lot of employees inside of the US.”
Ripple would then be able to “passport” its European license to the other 27 states in the union once new regulations on crypto regulation in the European Union take effect, which is anticipated in 2024, Alderoty said.
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Harold
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Ripple Seeks Boosts Its Operations In Ireland
As it increases its operations in Europe, Ripple is requesting a virtual asset service provider license from the Irish authority, according to CNBC.
According to the company’s general counsel Stuart Alderoty, Ripple is seeking a virtual asset service provider (VASP) license and already has two workers in the country, which is a member of the European Union.
The US-based company is looking for business abroad because it is involved in a dispute with the Securities and Exchange Commission. Alderoty stated:
“Essentially, its customers and its revenue are all driven outside of the U.S., even though we still have a lot of employees inside of the US.”
Ripple would then be able to “passport” its European license to the other 27 states in the union once new regulations on crypto regulation in the European Union take effect, which is anticipated in 2024, Alderoty said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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