Stuart Alderroti, chief legal officer at blockchain company Ripple, said: say The company said it was “excited” about its future in the European Union.
This comes after Alderotti and other Ripple representatives recently met with Finance Minister Gilles Roth about securing a license to operate in Luxembourg.
“We discussed their ambitions in Europe and Luxembourg and reaffirmed their commitment to digital innovation,” Ross said in a statement on social media.
Luxembourg accepts cryptocurrencies
Luxembourg, a small but outrageously wealthy European country, caused an uproar in the cryptocurrency industry earlier today when it was reported that the country’s sovereign wealth fund had decided to invest 1% of its funds in cryptocurrencies.
Although the total investment is small, it has a significant impact on how Bitcoin is viewed as an asset class. Luxembourg became the first country to invest in Bitcoin.
Ripple movement in the EU
Alderoti argues that the EU has taken the lead in creating “comprehensive” rules on digital assets, citing the MiCA framework, which became applicable in December.
In July, it was reported that Ripple wanted to register as an electronic money institution via Luxembourg. This license will enable the company to operate across the European Economic Area (EEA).
It also established another legal entity in the small EU country earlier this year.
as U.Today reportedBBVA, one of Spain’s largest banks, recently adopted the company’s storage solutions.
In May, Schuman Financial’s Euro stablecoin, also MiCA-compliant, went live on the XRP ledger.
