Setting the Regulatory Standard in Crypto: Ramp’s Solution for the Web 3 Industry

  • 📰 Crypto_Potato
  • ⏱ Reading Time:
  • 85 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 51%

México Noticias Noticias

México Últimas Noticias,México Titulares

Crypto Blog

, the financial technology company building payment rails connecting crypto to the global financial system, today announced a groundbreaking solution that enables non-custodial wallets to comply with the UK Financial Conduct Authority’s regulations and participate in the country’s thriving crypto market.

The UK’s Financial Conduct Authority has established a world-leading and rigorous framework for crypto promotions, requiring firms to comply with strict but valuable customer protection rules. This is a challenge for Web3 businesses and non-custodial wallets, which are ineligible for direct FCA authorization. Effectively, there was no way for a non-custodial wallet to provide any other features, like staking, on-ramping or swapping. It was even referred to by some in the industry as a.

Ramp’s innovative solution bridges this gap, empowering non-custodial wallets to navigate the FCA’s regulations and access the UK market compliantly. Here’s how it works:Non-custodial wallets can leverage Ramp’s pre-approved compliance infrastructure to ensure their UK-targeted promotions meet all the requirements of these FCA regulations.This solution is particularly beneficial for non-custodial wallets like Metamask and Trust Wallet, which can use this model to access the UK market.

“This model is entirely new, and demonstrates Ramp’s ambitious, forward-thinking, and compliance-led approach to the ever-changing and challenging face of crypto regulations,” said Steven Eisenhauer, Chief Risk & Compliance Officer at Ramp Network.is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.

 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 568. in MX

México Últimas Noticias, México Titulares