In a recent speech at the DC Fintech Week conference, Ripple CEO Brad Garlinghouse addressed the company’s regulatory hurdles. He expressed his views on the cryptocurrency landscape in the United States. Ripple CEO Warns Of US Risking Market Share Loss According to a Fortune Maga...
Ripple CEO Warns Of US Risking Market Share Loss
Garlinghouse attributed this reluctance to the perception that the US government and the Office of the Comptroller of the Currency (OCC) are “hostile to the crypto industry.”
Garlinghouse emphasized that while the US has hostility towards crypto, other countries actively welcome crypto companies and investments by providing clear regulatory policies.
As a result, the US risks losing its market share and failing to capitalize on its early advantage in the crypto space. Garlinghouse expressed his belief that the US can still become a leader in the industry but highlighted the urgency for clear and constructive regulatory frameworks to be established.
CEO Vows To Escalate Legal Battle With SEC To Supreme Court
Garlinghouse emphasized the importance of creating a hospitable environment for innovation and growth, suggesting that the current hostility in the US hinders Ripple’s ability to operate effectively within the country.
Garlinghouse stated that Ripple is prepared to pursue legal avenues until a resolution is reached. This firm stance underscores Ripple’s commitment to addressing regulatory uncertainties surrounding XRP.
Despite recent court victories, Ripple encounters obstacles due to perceived hostility and a lack of clear policy guidance. Garlinghouse’s readiness to escalate the legal battle to the Supreme Court demonstrates Ripple’s determination to seek a resolution and establish a constructive regulatory framework.
As Ripple expands its operations globally, the hope remains that the US will adopt more welcoming and supportive regulations to foster innovation and maintain its competitive edge in the evolving cryptocurrency landscape.
Featured image from Shutterstock, chart from TradingView.com