Ripple Legal Chief Have A Tip For “Bears” On Crypto Rules

Ripple News: As Ripple Labs and its executive faces regulatory compliance challenges in the United States, the Monetary Authority of Singapore (MAS) grants an In-Principle Approval of the Major Payments Institution License to the blockchain firm. However, Ripple’s Legal head has a tip for the bears regarding regulatory clearance.

Also Read: Coinbase Bags Another Win Against US SEC In Crypto Rulemaking Case

Ripple To Lead Crypto Industry?

Stuart Alderoty, Chief Legal Officer at Ripple mentioned that the Central Bank of Singapore has been able to build a workable framework to provide consumer protection, market integrity, and innovation, all together. The authority defined a direct taxonomy in its framework to classify and regulate digital assets. He added that these clear guidelines have helped crypto firms like Ripple to offer compliant products for users unlike in the U.S.

Ripple Legal Chief targeted bears and their projected sentiments in the industry. He highlighted that regulatory clarity is the only thing that will help the crypto utility to move ahead to present real-world use cases.

This major development of Ripple landed in when its legal battle with the U.S. Securities and Exchange Commission (SEC) is heading toward the much anticipated Summary Judgement. However, the recent release of the infamous Hinman Ethereum speech linked documents made the XRP lawsuit more compelling.

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