Ripple Demands Government Get Engaged Into Crypto Industry
April 26, 2018
Ripple, the company that own the third largest cryptocurrency, has called for the British government to reinforce crypto regulation in the country.
The company has claimed, there is a need in additional regulation which would allow for implementing innovational technologies into industry and eliminate risks for investors. Above all else, Ripple mentioned Japan as an example that elaborated a body of rules for crypto exchanges last year to provide sustainable client security. Ripple asserts, Great Britain needs to go for similar measures to make the industry more transparent and render assistance to crypto companies.
Despite fintech spreading across the country, now Britain is not involved actively into the crypto market, as Ryan Zagone of Ripple notes. Though the government has taken the first step in the field, it is likely to take time before we can face some results. The country’s banks still cannot take a stand: now they compare Bitcoin to a catching disease, then they partner up with Coinbase exchange to give access to quick payments. All this makes most crypto traders feel uneasy. And perhaps regulators need to get into the industry indeed for the publicity to trust the sector more.