Ripple CEO Brad Garlinghouse Says US Desperately Lacks Crypto Regulatory Leadership Amid SEC Crackdown

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The chief executive of payments firm Ripple Labs says the US badly needs leadership in crypto regulation.

According to Brad Garlinghouse, the United States lags behind other countries when it comes to providing clear crypto guidelines for the industry.

Citing the governments of Australia, the United Kingdom, the United Arab Emirates, South Korea and Brazil, Garlinghouse notes how the countries are providing the fledgling industry with legislative guidance, which the United States currently lacks.

According to Garlinghouse, Ripple has been able to grow in these countries thanks to regulatory clarity.

Taking a step back from what has happened in the US over the past few weeks, the number of positive (or at least CLARITY-like) global regulatory developments is energizing.

These regulators are providing the leadership and doing the work that we desperately lack in the US, unsurprisingly, this is where companies like Ripple are thriving!

Ripple Labs is currently in a legal battle with the SEC. The regulator first sued Ripple in December 2020, alleging that the company was selling the digital asset XRP as an unregistered security.

The trial is coming to an end and the judge could render a decision in the coming months.

Recently, the SEC has come under fire for its handling of enforcement against crypto firms.

Pro-crypto SEC commissioner Hester Peirce has come out and blasted regulators’ latest attack on crypto exchange staking program Krakens, saying its use of regulation by the app is counterproductive. productive.

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Feature image: Shutterstock/Robert Kneschke

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