In a recent Twitter post, Ripple CEO Brad Garlinghouse warned officials about the potential exit of crypto from the US and warned that it would not be good for American innovation. In an interview with Bloomberg, Garlinghouse emphasized that the US should embrace crypto regulation and create a clear framework that allows the industry to grow while protecting consumers.
The crypto executive argues that the ongoing litigation between XRP and the SEC is not just about Ripple, but directly related to the industry as a whole. Garlinghouse believes the SEC’s approach to regulation through sanctions is not healthy and that the United States is lagging behind other countries in clarifying regulations.
Commenting on the subject, Brad Garlinghouse used the following statements:
“If the US doesn’t spruce up and move faster, all market participants will go overseas.”
The executive argued that the US government should create a crypto framework that would allow entrepreneurs and investors to come to the country and look at the benefits it would bring to the country on a geopolitical basis, just as it did on the internet in the late 90s. Garlinghouse warned that the US is at serious risk that this will not happen in the next evolution of technology around blockchain and crypto. The Ripple boss emphasized that the US should start crypto regulations with clear protections for consumers, but not everything in the industry will regulate as a security. Garlinghouse’s comments highlight the urgent need for the US to catch up with other countries and create a clear framework for crypto regulation.