Cryptocurrency company Ripple received authorization from the UK’s FCA, allowing its UK subsidiary to operate as an Electronic Money Institution under Money Laundering Regulations. The approval could impact Ripple’s stablecoin, RLUSD. Ripple must seek further FCA approval for certain products, with restrictions on services involving crypto ATMs and retail clients. Ripple is also barred from issuing electronic money to consumers, micro-enterprises, or charities. Ripple president confirmed no plans for an IPO. FCA’s approval came amidst new crypto licensing regulations, requiring firms to apply for full authorization by October 2027. Ripple has not responded to requests for comment.

Read more at Cointelegraph: Ripple Gains UK Regulatory Approval Via Local Arm