According to the news in Business Insider, Ripple’s XRP had a pretty good week, but it lost altitude after the Ripple official said ‘We want more regulation’.
Ripple company is responsible for regulation. XRP fell 8.5 percent on the day after the official asked UK regulators to expand cryptocurrency rules.
Ripple’s Ryan Zagone told The Telegraph, “We need more clarity and rules now, Now is a good time to reconsider the ‘wait and see’ approach taken by regulators. The current regulation creates barriers for new entrants, especially among institutional investors.”
In the interview, Zagone asked British legislators to follow Japan’s lead in regulating the new cryptocurrencies space. He asked crypto exchanges to apply for licenses to operate.
Most other cryptocurrencies also experienced a general decline on Monday.