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Regulatory relations head of Ripple: Uncertainty, biggest adoption barrier

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Ripple Adoption

The OECD Blockchain Policy Forum is a discussion that takes into account the influence of blockchain across various countries in the world. The recent OECD Blockchain Policy Forum kicked off in Paris on September 4 to 5 and the meeting centered a few points, but we will be focusing on the discussion on the implications of regulatory conditions to cryptocurrencies.

During this OECD blockchain Policy Forum, the newly appointed Head of Regulatory Relations of Ripple in Europe, Dan Morgan, talked on how the regulatory condition at the national and international level is affecting Ripple. Morgan said:

in the last five or six years I have seen an evolution of regulators’ approach to a number of areas including open banking bit lending and crowdfunding, and what I can say straight away is that the view of crypto assets are moving very rapidly globally even compared to these recent developments.”

As we do know, Ripple is a blockchain technology company that aims to aid in real-time cross-border payments primarily for financial institutions. Ripple’s new Regulatory Head went on talk about the company’s services despite the regulatory policies around it:

Sending money today is highly an efficient system of corresponding banking. The pre-funding account is expensive and slow; average international payment takes 3-4 days to settle… Ripple aims to create an internet value, to move money the way information moves today and to do that; we use DLT-based solution.”

He further went on to add that,

there’s are two fundamental parts: first is connectivity, which is messaging and settlement, and we use our xCurrent solution for this to dramatically reduce cost, time, and it provides great certainty… but you still need to pre-fund nostril account overseas, which is estimated that 5 trillion dollars are locked up in these accounts. We see a real potential to remove the need for pre-funding and address the second part of this puzzle which is liquidity… We feel that using digital asset exchanges to bridge currency to connect fit not as a replacement; it’s a solution to this.”

Concerning Ripple’s regulation, Morgan said:

The biggest barriers to adoption is uncertainty, particularly for institutions. So we applaud the taxonomy, being undertaken by the OECD, but also at an industry body level with the GDF and the Digital Chamber of commerce. We also feel that many of the current rules apply. None of the threats are new so principles of consumer’s protection, AML, safety, and soundness should also apply to feel that regulation take a case-by-case approach and focus on activity base.

The top executive of Ripple Labs also said that,

consumer detriments are one of the industry’s weak points, so we must ensure consumers’ protection… and principle based is the way forward. So ultimately, we think that regulators who take on the case-by-case approach or risk-by-risk approach will fundamentally be capturing the benefits with us on a range of use cases.”

Consequently, Ripple has been at the center of regulatory policies and the biggest debate is whether it is a security or not. The U.S regulators still haven’t decided if it is a security or not – but the debate continues. Nonetheless, Ripple is said to offer utility and solve real-life problems tied to liquidity and cross-border payments.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pxhere.com

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

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“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

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Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

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Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

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