Brad Garlinghouse Stresses the Importance of Cryptocurrency Regulation
During a recent conference in Singapore, Brad Garlinghouse, the CEO of Ripple, highlighted the necessity of implementing proper regulatory frameworks for the cryptocurrency industry. He addressed the prevailing sentiment between certain factions of the cryptocurrency 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 cryptocurrency world. He believes that Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols are critical in the cryptocurrency sector to combat financial crimes and secure transparency.
The Challenging United States Regulatory Environment
Garlinghouse likewise discussed the challenging environment for cryptocurrency entrepreneurs in the United States. Due to the present regulatory atmosphere, he advised caution when establishing ventures on United States soil and mentioned other countries as potentially more favorable options.
Additionally, Garlinghouse expressed his dissatisfaction with the United States Securities and Exchange Commission (SEC) and their relentless pursuit of Ripple regardless of a recent legal victory. He remains hopeful about ascending through the United States appellate court system, as he believes that both the facts and the law are on Ripple’s side.
Hot Take: Brad Garlinghouse Advocates for Cryptocurrency Regulation to Secure Industry Growth
Brad Garlinghouse, CEO of Ripple, has stressed the importance of implementing proper regulatory frameworks for the cryptocurrency industry. He believes that Government regulation cannot be ignored if the industry desires to thrive and transform financial infrastructure. Garlinghouse emphasizes agreeing on foundational regulatory elements and incorporating protocols like AML and KYC into the cryptocurrency sector to combat financial crimes and secure transparency. He likewise cautions against establishing ventures in the challenging United States regulatory environment. Regardless of 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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