- Dubai’s progressive stance on crypto regulation could inspire other jurisdictions to approve XRP.
- Approvals will likely happen on a case-by-case basis as regulators gain more clarity.
- XRP’s proven use cases and court victory could influence approval across regions.
Dubai’s progressive stance on crypto regulation could inspire other jurisdictions to follow suit and approve XRP, especially in the Middle East and North Africa region, according to Damian Chmiel, senior analyst at Finance Magnates. Chmiel said this in a chat with Coin Edition about how Dubai’s recent move could impact the top altcoin.
The senior analyst noted that the regulatory environment for crypto remains complex globally. Hence, approval will likely happen on a case-by-case basis as regulators provide more clarity. He identified two factors that could influence XRP’s approvals across jurisdictions, including the altcoin’s proven use cases and its recent U.S. court victory affirming its non-security status.
Explaining the potential impact of Dubai’s approval of XRP, Chmiel said that it would expand XRP’s accessibility and unlock fresh regional payment solutions on RippleNet. It w…
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