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The influencer hints at Ripple’s participation in the UK crypto regulation report
- Analyst Cypress de Manincor claimed to have participated in the British legislator’s report on cryptocurrency.
- Interestingly, this report indicates that BTC and ETH have no intrinsic value.
- Manincor also reveals through a video that Susan Friedman, Head of Policy at Ripple, was mentioned in the UK cryptocurrency report.
Crypto analyst Cypress de Manincor claimed that Ripple was involved in a UK legislator’s report on cryptocurrency published this week. Isn’t Ripple being sued for selling unregistered securities? So why are they part of a regulatory paper from UK lawmakers stating that BTC and ETH have no intrinsic value? Maninkur asked in his latest Twitter post.
Isn’t Ripple being sued for selling unregistered securities? So why are they part of a regulatory paper from UK lawmakers stating that #BTC and #ETH have no intrinsic value?
– Cypress Demanincor (@CDemanincor) May 17, 2023
In a video shared with the post, the analyst claimed it was a bit suspicious that Ripple, while locked in an intense legal battle, would be able to buy Swiss-based crypto custody firm Metaco for $250 million. Manincor also found it strange that Metaco claims to be the “institutional standard for digital asset services.”
The analyst then turned to the latest news as a panel of UK lawmakers said in a report that BTC, ETH and other cryptocurrencies should be regulated as gambling given the significant risks they pose to consumers.
However, Maninkur noted that in the report, lawmakers stated that innovative technologies have the potential to bring benefits to financial services and the broader economy, and distributed ledger technology was cited as an example.
However, the biggest revelation is that Ripple was consulted in preparing this report. Susan Friedman, Head of Policy at Ripple, was mentioned in the witnesses section of the report. Manincore also asked why no other company was consulted in writing this report.
Although at the end of the post, Maninkur added that XRP was about to be crowned king due to these developments. The comment section was also full of XRP supporters, approving of the feedback and cheering on Ripple.
Meanwhile, XRP benefited from a 4.24% rally over the past day and jumped 10.34% from last week. With a market cap of $24,175,308,391 and a 24-hour trading volume of $1,231,352,709, XRP is currently trading at $0.4664.
Influencer Hints’ post on Ripple’s Involvement in UK Crypto Regulation Report first appeared on the coin issue.
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