Ripple CEO Brad Garlinghouse announced a compliance-first approach for the company heading into 2024.
This aligns with the company's continuous efforts to integrate regulatory compliance into its business model.
Ripple's regulatory milestones
2023 has been a landmark year for Ripple, as highlighted by the company's General Counsel, Stuart Alderoty, on X.
The year saw Ripple achieve several regulatory milestones, including approval from the Central Bank of Ireland as a registered Virtual Asset Service Provider (VASP).
This achievement follows Ripple's receipt of a full Major Payments Institution license from the Monetary Authority of Singapore and the Dubai Financial Services Authority's approval of XRP for use by licensed institutions within the Dubai International Financial Centre.
Further solidifying its commitment to regulatory compliance, Ripple has been added to the Central Bank of Ireland’s Virtual Asset Service Providers Register. This registration allows Ripple's Irish subsidiary to offer specific digital asset services within Ireland.
Looking ahead
Alderoty has predicted the conclusion of Ripple's SEC lawsuit in 2024 and ongoing regulatory challenges for the crypto industry, with potential Supreme Court involvement.
At the same, he expects legislative gridlock in Congress over crypto regulation, posing risks for U.S. firms amidst global advancements.