US Regulation of Cryptocurrencies Is Behind: CEO of Ripple
The US government has come under fire from Ripple CEO Brad Garlinghouse for its unclear crypto regulations. In contrast, he emphasized the proactive stance adopted by nations like Australia, the United Kingdom, the United Arab Emirates, South Korea, and Brazil in offering legal assistance to the cryptocurrency business.
Regulation Clarity Is Essential for Crypto Growth
According to Garlinghouse, Ripple has been able to expand and prosper in these nations because to their regulatory clarity. The SEC, a US government watchdog, filed a lawsuit against Ripple in December 2020, claiming that the firm was offering the digital currency XRP for sale as an unregistered investment.
Critics Point Finger at SEC’s Treatment of Cryptofirms
The SEC has come under fire for launching enforcement actions against cryptocurrency businesses; pro-crypto SEC commissioner Hester Peirce dubbed the most recent attack on Kraken’s staking program as being ineffective.
advised investor caution
Before making an investment in Bitcoin, cryptocurrencies, or other digital assets, investors should undertake due diligence, just as with other high-risk investment. Please be aware that all transfers and trades are done at the investor’s own risk, and any losses sustained are their responsibility.