{"id":45264,"date":"2018-04-16T22:15:40","date_gmt":"2018-04-17T05:15:40","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=45264"},"modified":"2026-04-26T16:28:28","modified_gmt":"2026-04-26T15:28:28","slug":"ripple-uk-regulators","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ripple-uk-regulators\/","title":{"rendered":"Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework"},"content":{"rendered":"<p>In another push to uniformly manage the UK alt-coin market, executives over at Ripple, the world\u2019s third largest digital currency, have requested British regulators to put an end to the financial unpredictability that engulfs their cryptocurrency sector.<\/p>\n<p>Ripple\u2019s head of regulatory relations, Ryan Zagone, has proposed a model similar to the one implemented by Japan to help end the \u201cWild West\u201d days that have forced the crypto domain to spike and drop continuously since the start of 2018.<\/p>\n<p>Zagone's line of thinking includes the creation of a transparent market that helps minimize investor risk and enables maximum digital innovation. Zagone also put forth what he believes to be the \u201cthree pillars\u201d of long-term economic stability in this sector:<\/p>\n<ul>\n<li>Consumer protection<\/li>\n<li>Uniform anti-money laundering laws<\/li>\n<li>Financial stability<\/li>\n<\/ul>\n<p>In an interview given to the <a href=\"https:\/\/www.telegraph.co.uk\/business\/2018\/04\/15\/end-wild-west-days-cryptocurrencies-ripple-urges-uk-regulators\/\">Telegraph<\/a>, Zagone compared the regulatory environment that oversees the present cryptocurrency domain to the early days of the internet and added:<\/p>\n<blockquote><p>\u201cWe\u2019re at that time now where we need more clarity and rules (as well as more certainty) within this field. It\u2019s a good time to start revisiting that \u2018wait and see\u2019 \u00adapproach taken by regulators (to keep up with the times).\u201d<\/p><\/blockquote>\n<h2>Recent Developments<\/h2>\n<p>In the wake of widespread crypto adoption that took place last year, the Japanese government swiftly established a highly detailed framework to help protect consumer investments and <a href=\"https:\/\/cryptoslate.com\/japan-clamps-cryptocurrency-exchanges-curb-illegal-financial-activities\/\">eliminate issues related to money laundering<\/a>.<\/p>\n<figure id=\"attachment_35996\" aria-describedby=\"caption-attachment-35996\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-35996\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/japan-regulation-social-300x158.jpg\" alt=\"Japan Clamps Down on Cryptocurrency Exchanges to Curb Illegal Financial Activities\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/japan-regulation-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/japan-regulation-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/japan-regulation-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/03\/japan-regulation-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-35996\" class=\"wp-caption-text\">Related Story:\u00a0<a title=\"Japan Clamps Down on Cryptocurrency Exchanges to Curb Illegal Financial Activities\" href=\"https:\/\/cryptoslate.com\/japan-clamps-cryptocurrency-exchanges-curb-illegal-financial-activities\/\">Japan Clamps Down on Cryptocurrency Exchanges to Curb Illegal Financial Activities<\/a><\/figcaption><\/figure>\n<p>However, compared to their eastern counterparts, countries like Britain, France, Germany have been slower in incorporating such pertinent measures into their economic structures.<\/p>\n<p>It is also worth noting that Philip Hammond, Chancellor of the Exchequer, <a href=\"https:\/\/cryptoslate.com\/british-government-launches-crypto-task-force-strengthen-fintech-sector\/\">established a \u201ccrypto task force\u201d<\/a> earlier this year to safeguard the rights of British alt-asset investors. The new regulatory group consists of members from their Treasury, the Bank of England and the UK\u2019s \u00adfinancial watchdog, the FCA.<\/p>\n<h2>Looking Forward<\/h2>\n<p>Although virtual currencies have forced many governments across the globe to reconsider the financial direction in which their nations will move towards, it remains to be seen how the regulation of such a burgeoning, near multibillion-dollar industry, will be implemented.<\/p>\n<p>While people like <a href=\"http:\/\/www.cbc.ca\/news\/business\/bitcoin-cryptocurrencies-carney-1.4559143\">Mark Carney<\/a>, Governor of the Bank of England, have changed their tune after having bashed <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> earlier this year, it feels like the crypto sector has come-of-age and is now independent of all the negative media bias that it is faced with on a daily basis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In another push to uniformly manage the UK alt-coin market, executives over at Ripple, the world\u2019s third largest digital currency, have requested British regulators to put an end to the financial unpredictability that engulfs their cryptocurrency sector. Ripple\u2019s head of regulatory relations, Ryan Zagone, has proposed a model similar to the one implemented by Japan [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":45279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ripple-uk-regulators\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework\" \/>\n<meta property=\"og:description\" content=\"In another push to uniformly manage the UK alt-coin market, executives over at Ripple, the world\u2019s third largest digital currency, have requested British regulators to put an end to the financial unpredictability that engulfs their cryptocurrency sector. Ripple\u2019s head of regulatory relations, Ryan Zagone, has proposed a model similar to the one implemented by Japan [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ripple-uk-regulators\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-17T05:15:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-26T15:28:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/ripple-uk-regulators-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shiraz Jagati\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/ripple-uk-regulators-social.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shiraz Jagati\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ripple-uk-regulators\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ripple-uk-regulators\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shiraz-jagati\/#person\",\"name\":\"Shiraz Jagati\",\"url\":\"https:\/\/cryptoslate.com\/author\/shiraz-jagati\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shiraz-jagati\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shiraz-jagati\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/07\/author-shiraz-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/07\/author-shiraz-300x300.jpg\",\"caption\":\"Shiraz Jagati\"},\"jobTitle\":\"Journalist\",\"description\":\"Shiraz is a cryptocurrency journalist and analyst currently traversing the globe. 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