Ripple, the entity behind XRP, has secured a noteworthy win with the Central Bank of Ireland officially acknowledging Ripple Markets Ireland Limited as a registered Virtual Asset Service Provider (VASP). This bolsters Ripple’s ambitions to increase its operations in Europe and falls in line with upcoming regulations. Alongside Coinbase, MoonPay, Gemini, and Zodia Custody, Ripple is featured on the CBI’s VASP register, helping to deepen trust and investor protection.
With new legislation on the horizon, such as the Rasmortcr Dagftihilationringejessesduction Legislation (MiCA) expected to take effect in 2024, Ripple is strategically positioning itself to ensure compliance and provide crypto transaction services to European clients. The registration with the Central Bank serves not only to highlight Ripple’s efforts to keep up with the pace of modern regulatory standards, but also cements its place among other prominent entities in the crypto asset world.
Ripple’s senior executive, Eric van Miltenburg, spoke of the brighten future in store when cryptographic assets and fintech organizations conform to transparency laws in the European Union. This registration serves as a remarkable milestone on Ripple’s journey to regulation, and proves their dedication to opposition of money laundering practices moving forward.
