Ripple has reportedly been in contact with officials in the UK government. “The firm is engaging to discuss opportunities and appropriate policy approach regarding non-fungible tokens (NFTs) and XRP Ledger (XRPL).”
Sources familiar with the matter say Ripple representatives NFTThey emphasize the need to “organise the use case, not the technology” when it comes to developing frameworks for new applications such as states. They argued that the UK should adopt a balanced approach that allows for innovation while also addressing consumer risks.
💣 BOOOOOOOOOOM@Ripple has been communicating with the UK 🇬🇧 GOVERNMENT on regards to NFTs and the $XRP Ledger (XRPL.)
‘Regulate the use-case, not the technology: the right policy approach to NFTs” is one of the key 🔑 elements . pic.twitter.com/OPW2U0RWXh
NEWS CONTINUES BELOW— EDO FARINA 🅧 XRP (@edward_farina) November 23, 2023
Koinfinans.com As we reported, the talks aim to ensure the UK establishes regulations that enable businesses and creators to use the efficiency and carbon-neutral nature of technology platforms such as XRPL to support activities involving digital assets. However, the rules will still help prevent potential problems such as money laundering.
Currently, XRP is trading at around $0.62 according to data from major exchanges. Talks between Ripple and the UK government, cryptocurrency It coincides with a period when interest in technology units and their underlying technologies continues to increase worldwide. Observers will see whether this engagement will lead to UK policies that support the further development and adoption of the XRP ecosystem.