Recent discussions within the crypto community highlight the differences between the US and UK regarding Ripple and the cryptocurrency XRP. Crypto enthusiast Satoshi Scope shares his insights on the matter.
US Approach to Ripple
In the US, Ripple faces legal challenges including lawsuits from the Securities and Exchange Commission (SEC). These actions are perceived as a sign of distrust from American regulators toward XRP.
UK and RippleNet
In contrast to the US, the UK actively integrates Ripple into its financial initiatives. In 2017, the Bank of England conducted trials of RippleNet to modernize its real-time gross settlement scheme. Satoshi Scope argues that this was a deliberate evaluation aimed at future utilization of Ripple within the country's financial system.
Timeline of Events and Conclusions
Satoshi Scope presents a timeline illustrating how the UK has gradually included Ripple in its plans for digital currencies. By 2021, Ripple joined the working group for the digital pound, and by 2023, it participated in CBDC pilot projects with several sovereign nations. These events emphasize the contrasting approaches of the two countries.
The comparison of US and UK approaches to Ripple and XRP reveals significant differences in the strategic perception of cryptocurrencies and digital assets. While the US remains cautious, the UK begins to see Ripple as a vital component of its financial architecture.
