Brad Garlinghouse, the Chief Executive Officer of Ripple, believes that the US is lagging behind other countries in terms of cryptocurrency regulation due to the lack of clarity in the laws. He compared the potential of the technology to the Internet, which the US embraced in the 1990s despite its unknown merits. Garlinghouse argued that countries like Australia, Japan, Singapore, the UK, and Switzerland have already imposed comprehensive rules on the cryptocurrency sector, and he advised the American government to do the same. He believes that the best crypto regulatory framework should focus on consumer protection and allow the technology to grow while ensuring maximum security for investors.
Garlinghouse also discussed the SEC’s lawsuit against Ripple, which alleges that the company’s executives illegally sold XRP tokens to investors without first registering them as securities. He believes that the outcome of the case will be “pivotal” for the entire sector and that the SEC should not be setting rules through enforcement. He believes that the US should take the same approach it did with the Internet in the 1990s and embrace the potential of the technology.
