Cryptocurrency News Official TheBitTimes.com

Ripple has submitted a document to the British parliament highlighting the benefits of XRP and crypto currencies for the UK government. The paper acknowledges the UK government’s initiatives in the crypto space, such as the Crypto-Asset Engagement Group and The Financial Services and Markets Bill. Edward Farina, head of social adoption at XRP Healthcare, noted the document’s importance. He recognized Ripple’s proactive engagement with authorities. BOOOOOOOOOOOM #RIPPLE has been communicating with the UK GOVERNMENT and the document below features in the official UK Parliament website describing #XRP for Cross-Border Payments for instantaneous bridge between fiat currencies and the #XRPL as a decentralized open source. pic.twitter.com/MhKgDKA3D1 — EDO FARINA 🅧 XRP (@edward_farina) July 11, 2023 Ripple explained the basics of blockchain technology and emphasized XRP as the native coin of the XRP Ledger (XRPL), independent of Ripple Labs. The document discu...

The legislation now waits on King Charles’ table for royal assent, the final step required for a parliamentary bill to become law. A bill bringing crypto currencies under the same rules applied to traditional assets is set to pass into law in the United Kingdom as it reaches the final stages for King Charles’ royal assent on June 29, the final step required for a parliamentary bill to become law. Approved by the upper chamber of the U.K. parliament on June 19, the Financial Services and Markets Bill has been discussed in the British Parliament since July 2022 and is expected to increase legal clarity and support the adoption of crypto currencies in the country. The new law will give the Treasury, Financial Conduct Authority (FCA), Bank of England and Payments Systems Regulator the power to introduce and enforce regulations for crypto businesses. #HouseOfLords conducts ‘tidy up’ of the #FinancialServicesBill from 3.15pm before it is returned to @HouseOfCommons to consider Lords cha...