Ripple CEO, Brad Garlinghouse Says The United States is the only country claiming that XRP is security, not a Currency
The inability of US authorities to implement clear and precise regulations on the cryptocurrency industry is “frustrating,” commented the CEO of Ripple – Brad Garlinghouse. The executive also blasted the country’s regulator for being the only world watchdog insisting that the XRP token is a security.
US Trails Behind Other Nations For Crypto Clarity
With the growth of the cryptocurrency industry in the past year or so, world regulators began discussing more actively what type of legislative framework should be established. However, some countries have been at the forefront with a more open-minded approach, while others, such as the US, have fallen behind, according to Ripple’s Brad Garlinghouse.
In a recent CNBC interview, he described the US’s attempts as “frustrating.” The world’s largest economy has proposed a few potential rules, but the cryptocurrency industry bashed them for being restrictive. Ultimately, the Biden administration paused their development.
The latest initiative came yesterday as the House of Representatives passed a bill to create a joint crypto task force with the SEC and CFTC.
Nevertheless, Garlinghouse believes this approach could be a bit too late, especially compared to more advanced nations:
Source: Cryptopotato.com
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