Brad Garlinghouse Stresses the Importance of Crypto Regulation
During a recent conference in Singapore, Brad Garlinghouse, the CEO of Ripple, highlighted the necessity of implementing proper regulatory frameworks for the crypto industry. He addressed the prevailing sentiment among certain factions of the crypto community that oppose any form of regulation, stating that such a stance could hinder long-term growth.
Garlinghouse emphasized the importance of agreeing on foundational regulatory elements and referenced ongoing disagreements within the crypto world. He believes that Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols are crucial in the crypto sector to combat financial crimes and ensure transparency.
The Challenging US Regulatory Environment
Garlinghouse also discussed the challenging environment for crypto entrepreneurs in the United States. Due to the current regulatory atmosphere, he advised caution when establishing ventures on US soil and mentioned other countries as potentially more favorable options.
In addition, Garlinghouse expressed his dissatisfaction with the US Securities and Exchange Commission (SEC) and their relentless pursuit of Ripple despite a recent legal victory. He remains hopeful about ascending through the US appellate court system, as he believes that both the facts and the law are on Ripple’s side.
Hot Take: Brad Garlinghouse Advocates for Crypto Regulation to Ensure Industry Growth
Brad Garlinghouse, CEO of Ripple, has stressed the importance of implementing proper regulatory frameworks for the crypto industry. He believes that government regulation cannot be ignored if the industry wants to thrive and transform financial infrastructure. Garlinghouse emphasizes agreeing on foundational regulatory elements and incorporating protocols like AML and KYC into the crypto sector to combat financial crimes and ensure transparency. He also cautions against establishing ventures in the challenging US regulatory environment. Despite ongoing legal battles with the SEC, Garlinghouse remains hopeful and confident in Ripple’s position, stating that the facts and the law are on their side.
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