Ripple has released her second blog on Monday in the three-part series “The Case of Digital Asset Regulation”. Here he developed the FinTech scenario in the ASEAN region of the world, especially in Thailand. He talks about events and practices in the Middle East and especially in Abu Dhabi.
Throughout the country’s regulatory approach, Ripple explored topics related to the piracy of Gox and the progress of cryptocurrency in Japan. In the final piece, the company conducted a similar investigation, but in Thailand and Abu Dhabi.
Regarding Thailand’s Regulatory Framework for Digital Assets, Ripple said the country will prohibit traditional banks from offering their digital asset services.
However, the Bank of Thailand (BoT), the central bank of Thailand, has been established as the leading asset class in the ASEAN region. As a result, the Apex tax authority moved to more advanced methods to deal with the situation.
Next, Ripple identified the Abu Dhabi Global Markets (ADGM) as the dominant figure in the FinTech revolution in the Middle East. ADGM is an international financial center that, like BoT, is a regulatory framework for the digital asset class. The main reason behind ADGM’s action is the promotion and development of the Digital Asset Center in the Middle East for the FinTech industry.
The blog thus noted that Thailand is sensitive to currencies and digital assets to protect investors’ interests and moved to asset classes. On the other hand, the financial center in Abu Dhabi skips the steps of acceptance and makes progress on the path of incorporation and promotion.
A Twitter user named London Crypto Services Ltd went to the Twitter thread to comment on the release of Ripple and stated:
“Ripple momentum is gathering pace!”
Another user, Rémi Férat also cheered in favor of the ecosystem and wrote:
“Come on Ripple !”
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