Dubai approves XRP as part of its regulation for virtual assets
Dubai approves XRP as part of its regulation for virtual assets
- According to Ripple, approval licensed companies allows XRP to integrate XRP into their crypto asset services.
- CEO Brad Garlinghouse notes that Dubai, as a global market leader, is growing in the regulation and innovation of cryptocurrencies.
- other cryptocurrencies permissible as part of the DFSA regulation for virtual assets are BTC, ETH and LTC.
Ripple has announced that the Dubai Financial Services Authority (DFSA) officially approved the XRP cryptocurrency standing as part of the regulation for virtual assets.
The approval enables licensed companies in the Dubai International Financial Center (DIFC) to integrate XRP into its virtual asset services, as the blockchain company stated in an article XRP joins BTC, ETH and LTC on the DFSA list
By approving XRP by the DFSA, the number of digital assets permitted within the framework of the regulatory authority for virtual assets increases to four, whereby the ripple token is added to Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). According to Ripple, the development could lead to XRP benefits from the legal and regulatory clarity of the DIFC. The company is also convinced that this has "the potential to open up new regional payments and other applications for virtual assets in the XRP Ledger". Today's announcement takes place a few days after Ripple has signed a strategic partnership with the crypto exchange Uphold in order to strengthen its cross-border payment infrastructure. It is also ahead of Ripple Swell, a flagship event that takes place in Dubai from November 8th to 9th and belongs to the main speakers: Alya Al Zarouni, Coo from DIFC; and Hensen Orser, the CEO of Vara. Brad Garlinghouse, CEO von Ripple, praised in his comment on the XRP-NOTUNG Dubai's continued approach to regulating digital assets and referred to his role in the "promotion of innovations". "I It is refreshing to see that the DFSA promotes the introduction and use of digital assets such as XRP in order to position Dubai as a leading financial service center, attract foreign investments and accelerate economic growth. Ripple will further expand its presence and we look forward to continuing to work closely with the regulatory authorities to work together to work closely. To exploit the full potential of crypto ”, added Garlinghouse.
Source: Coinlist.me
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