Analyst: XRP’s approval in Dubai could inspire other jurisdictions

Finance Magnates senior analyst Damian Chmiel said Dubai’s progressive stance on cryptocurrency regulation could inspire other jurisdictions to follow suit and approve XRP, especially in the Middle East and North Africa. The senior analyst noted that the global regulatory environment for cryptocurrencies remains complex. Therefore, approvals may be made on a case-by-case basis as regulators provide more clarity. He pointed to two factors that could impact XRP’s approval in various jurisdictions, including the altcoin’s proven use cases and a recent victory in a U.S. court confirming its non-security status. (coinedition)