Ripple Urges UK Regulators to Establish a Consistent Cryptocurrency Framework

In another push to uniformly manage the UK alt-coin market, executives over at Ripple, the world's third largest digital currency, have requested British regulators to put an end to the financial unpredictability that engulfs their cryptocurrency sector.

Ripple's head of regulatory relations, Ryan Zagone, has proposed a model similar to the one implemented by Japan to help end the "Wild West" days that have forced the crypto domain to spike and drop continuously since the start of 2018.

Zagone's line of thinking includes the creation of a transparent market that helps minimize investor risk and enables maximum digital innovation.

"We're at that time now where we need more clarity and rules within this field. It's a good time to start revisiting that 'wait and see' ­approach taken by regulators."

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 eliminate issues related to money laundering.

It is also worth noting that Philip Hammond, Chancellor of the Exchequer, established a "Crypto task force" earlier this year to safeguard the rights of British alt-asset investors.

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