In recent news related to XRP, Ripple Labs, the issuer of the XRP token, reported that it’s seeking regulatory approval in the Republic of Ireland to enter the European market. Ripple is currently looking to obtain a virtual asset service provider (VASP) license and also has plans to file for the electronic money license thereafter.
Ripple’s Expansion Plan For XRP
Ripple informed that it already has two employees in the Irish jurisdiction, which is a member of the European Union (EU).
Due to its longstanding legal dispute with the U.S. Securities and Exchange Commission, which is claiming that the business broke securities law by selling the XRP token, Ripple has moved its focus to nations outside of the US. The business has already established alliances in Sweden and France.
As per Ripple’s General Counsel Stuart Alderoty, the company no longer derives its income from America even though having a substantial amount of staff in the country.
EU’s Positive Stance On Crypto
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