Ripple co-founder Chris Larsen recently praised the UK for its progressive approach to regulating crypto-assets and its position as a major fintech hub. He highlighted recent comments from UK Chancellor Jeremy Hunt, who compared the country to Europe’s Silicon Valley. Larsen noted the UK’s advancements in finance and technology and its potential for further innovation. Chancellor Hunt shared his vision for the UK to become a technologically-advanced hub during meetings with tech giants like Amazon, Apple, Meta, Microsoft, and Google. He emphasized the importance of enterprise, education, employment, and expansion for sustainable economic growth. Ripple is focusing on London and other markets for its business growth and aims to secure a spot on the UK’s register of crypto firms. Sendi Young, Ripple’s European MD, expressed confidence that the company’s application for registration with the UK’s Financial Conduct Authority and plans for a payment institution license in Ireland will support its expansion efforts. Additionally, Ripple announced that it would no longer be acquiring Fortress Trust, citing the alleged theft of $15 million of Fortress Trust customers’ digital assets by Retool, a victim of a phishing attack. Ripple CEO Brad Garlinghouse stated that while the acquisition is no longer proceeding, Ripple will remain an investor.
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