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Brad Garlinghouse, the CEO of financial technology company Ripple Labs, supports cryptocurrency regulation in the United States.
In recent times, Ripple CEO, noted in his Twitter thread that, “I am cautiously optimistic that 2023 is the year we will (finally!) see a breakthrough.”
He expressed on the Twitter thread over “why support for regulation is bipartisan & bicameral.” He named some Leaders who have publicly supported “blockchain” and also recognized the need for “clarity”.
Ripple’s CEO also said that “we are not working with a blank slate.” However the previous bills have tried to address every single piece from “stablecoins and CEXs (RFIA and DCEA); clearer definitions of what constitutes a digital asset security (Securities Clarity Act); safe harbors (Clarity for Digital Tokens Act) and more.”
He also pointed as “No bill is perfect and there likely never will be one that satisfies everyone. But perfect shouldn’t be the enemy of progress – these proposals provide more than a starting point for debate in this new Congress. The stakes couldn’t be higher.”
Mr. Garlinghouse named Singapore, the EU, Brazil, and Japan which have crypto frameworks. While the United Kingdom is “well ahead of the United States.” Due to the “lack of coordinated standards globally (or any in the US) continues to push business to countries w/ lower regulatory bars – w/ sometimes catastrophic results (FTX),” he further noted.
Moreover, Ripple CEO said about the “building blocks for regulation” which have already been introduced. And he expressed as “we have a chance to get this right for millions of Americans who already are – and will continue to be – interested in crypto.”
In his last twitter thread, he wrote “The 118th Congress has a historic opportunity before it to ensure the US remains an innovation leader for decades to come. We hope it’s one they take.”
This was the “optimistic” vision of Ripple CEO for crypto regulatory in the US in this year.
The Creator of BitBoy Crypto, Ben Armstrong has predicted the “XRP case will end in 2023 and is in favor of Ripple.”
XRP Price Analysis
After the tweet of Ripple CEO, the price of XRP showed a little bit of positive movement in its trading price. XRP is currently trading at $0.348743 USD with a 24-hour trading volume of $771.04 Million USD. XRP is up 0.72% in the last 24 hours, with a live market cap of $17.63 Billion USD.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
