Brad Garlinghouse, the CEO of Ripple, recently shared his perspective on the debate surrounding crypto regulation. Speaking at a conference in Singapore, Garlinghouse emphasized the importance of establishing appropriate regulatory frameworks for the crypto industry.
Garlinghouse highlighted the prevailing sentiment among certain factions of the crypto community that vehemently opposes any form of regulation. However, he believes that this stance could hinder the industry’s long-term growth. In his judgment, government regulation plays a crucial role in ensuring the industry’s success and transforming financial infrastructure. He stated, “if we want this industry to thrive…we can’t pretend like government regulation doesn’t matter.”
The Ripple CEO also emphasized the need for foundational regulatory elements and expressed concern over ongoing disagreements within the crypto world. He emphasized the importance of including protocols like Anti-Money Laundering (AML) and Know Your Customer (KYC) within the crypto sector to combat financial crimes and ensure transparency.
Furthermore, Garlinghouse discussed the challenging environment for crypto entrepreneurs in the United States due to the current regulatory atmosphere. He advised crypto founders to think twice before establishing ventures on US soil, stating that the US is a country where he would not encourage people to start a company.
Garlinghouse’s remarks come amidst Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Despite the legal challenges, Garlinghouse remains optimistic and hopeful about Ripple’s position. He expressed dissatisfaction with the SEC’s relentless pursuit, despite Ripple’s legal victory costing them over $100 million in fees. However, Garlinghouse believes that the facts and the law are on Ripple’s side.
Overall, Garlinghouse’s perspective on the necessity of proper regulation and the challenges faced by crypto entrepreneurs reflects the ongoing debate surrounding crypto regulation and its impact on the industry’s growth.
Sources:
– Token 2049 conference in Singapore
– Prevailing sentiment among certain factions of the crypto community
– Garlinghouse’s remarks at the conference
– Ripple’s legal battle with the SEC
– Challenging environment for crypto entrepreneurs in the US
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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