Ripple is hunting for new talent to join the company’s Global Anti-Money Laundering & Sanctions Compliance division.
The blockchain firm continues with its global expansion plans despite its legal battle with the US SEC.

Despite its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), blockchain startup Ripple continues to focus on its market expansion by hiring new talent. Now, the company is looking for a new full-time position as a Senior Specialist in Global Know Your Customer Due Diligence, based out of the United States.

The new team member will join Ripple’s Global Anti-Money Laundering & Sanctions Compliance division, tasked with conducting due diligence and managing reputational, regulatory, and sanction-related risks associated with the company’s institutional clients, corporate partnerships, and counterparts.

This strategic addition underscores Ripple’s unwavering commitment to adhering to stringent Anti-Money Laundering (AML), Counter-Terrorist Financing, and Economic Sanctions regulations. It reflects Ripple’s determination to expand its services, not only in the U.S. but also globally, despite previous intentions to withdraw from the U.S. market.

In a recent interview, Monica Long, a representative of Ripple in the U.S., hinted that the recent favorable court decision will play a pivotal role in shaping the company’s future strategy. She said:

We’re very happy about it because we now have clarity in terms of how Ripple will operate its business going forward. And we are re-engaging with the U.S. market.

Ripple’s Push for Global Expansion Amid SEC Battle

While Ripple continues to engage with the US SEC in a court war, the company continues to make push for overseas expansion. Following its recent acquisition of an operational license in Singapore, Ripple has set its sights on expanding its operations into the United Kingdom and Ireland. The network’s plan includes securing a payment institution license from the UK’s Financial Conduct Authority and the regulatory authority in Ireland.

In a recent interview, Sendi Young, the CEO of Ripple’s subsidiary for the UK and Europe, disclosed that the network has significantly increased its workforce in the region, with a remarkable 75 percent growth in just the past two years.

Furthermore, Ripple’s expansion efforts extend to the realm of NFTs, as evidenced by Ducati, a prominent sports motorcycle company, announcing its intention to launch NFTs on the XRP ledger.

On the other hand, Ripple’s ongoing battle with the US SEC continues over the treatment of XRP as a security. While the court ruling came in favor of Ripple, the US SEC filed an interlocutory motion to appeal the court ruling.

In its latest filing on Friday, Ripple objected to the SEC’s appeal asking US District Judge Analisa Torres in New York to deny the SEC’s request. The company has asserted that the regulatory agency is hastily pursuing an appeal, contending that the legal matter at hand pertains to all cases involving digital assets. This assertion is made in light of the varying factual, legal, and procedural circumstances in other SEC enforcement actions.

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Filed under: Bitcoin - @ September 2, 2023 12:01 pm