Ripple has presented a four-point action plan urging UK authorities to accelerate crypto regulation and position the country as a leader in digital finance.
Ripple Taking Charge in UK Crypto Regulation Scene
Ripple has intensified its calls for clear and effective cryptocurrency regulations in the United Kingdom, unveiling a detailed four-point strategy aimed at transforming the country into a prominent digital asset hub. The proposal was introduced during the London Policy Summit, an event organized by Ripple in collaboration with the UK Centre for Blockchain Technology and Innovate Finance.
The summit coincides with recent moves by the UK government, including draft legislation from HM Treasury and consultations by the Financial Conduct Authority (FCA) on issues such as stablecoins, custody standards, and prudential frameworks.
Ripple, already active in crypto policy discussions across Singapore, Dubai, and the EU, is now positioning itself as a key contributor in shaping the UK’s regulatory framework.
Details of Ripple’s Four-Point Proposal
In a whitepaper released after the summit, Ripple laid out four core recommendations. Firstly, it called for UK authorities to urgently finalize a crypto-asset regulatory framework aimed at driving investment and economic growth. Ripple argued that early adoption of clear rules would give the UK a competitive edge as global demand for digital asset services continues to expand.
The second recommendation emphasized the importance of aligning UK regulations with international standards. This, Ripple stated, would prevent conflicting obligations for firms operating across multiple jurisdictions and ensure smoother cross-border activity.
Thirdly, Ripple urged the government to prioritize stablecoin regulation, including provisions to allow overseas-issued stablecoins to operate within the UK without requiring domestic issuance licenses. The company highlighted that stablecoins are fast becoming critical components of global payment systems and must be regulated promptly to foster innovation.
Lastly, Ripple proposed a comprehensive strategy to dismantle existing legal, tax, and regulatory barriers hindering tokenisation projects. It stressed that removing these obstacles would enable the UK to solidify its position as a competitive, forward-looking financial centre.
Industry Calls for Clear, Practical Guidelines
In contrast to earlier industry reluctance toward regulatory oversight, crypto firms are now actively seeking comprehensive rules that enable market growth while safeguarding participants. Ripple, which has historically engaged with regulators rather than opposed them, emphasized the importance of applying lessons from jurisdictions that have successfully implemented crypto regulations.
The company cited Singapore, Dubai, and the EU’s Markets in Crypto-Assets (MiCA) regulation as effective models for striking a balance between innovation and oversight. Ripple’s approach is not to replicate these frameworks wholesale but to extract practical insights on what has worked and what has not, tailoring solutions to the specific needs of the UK’s financial ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
