Payment protocol Ripple has recently applied for a registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA), a spokesperson for the firm told Cointelegraph. The company is also seeking a payments license in Ireland as part of its massive investment in the region.

The registration was submitted after Ripple’s partial win against the United States Securities and Exchange Commission over the classification of its XRP (XRP) token as a security. The decision, viewed as a win by Ripple and the broader crypto community, considered the XRP token to be a security when sold to institutional investors, but not to retail investors. The case is still open to appeal by the SEC.

XRP is not a security.

This victory for @Ripple is a win for the entire industry and a step toward regulatory clarity in the U.S.

A huge thank you to @bgarlinghouse, @chrislarsensf, and @s_alderoty for their leadership and the #XRPCommunity for their continued support.

— Ripple (@Ripple) July 13, 2023

More crypto firms are looking to the United Kingdom for regulatory clarity and a supportive business environment amid a wave of enforcement actions carried out by the SEC in the United States.

Recently, venture capital firm Andreessen Horowitz (A16z)

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Author: Ana Paula Pereira

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