Ripple CEO Brad Garlinghouse, attending the World Economic Forum’s annual meeting in Davos, made broad statements about the urgent need for regulatory clarity in the crypto world. In one part of the session, Garlinghouse emphasizes that the number of projects is approaching 20 thousand, despite saying that they will go to zero.
Ripple CEO says Japan and Singapore are ahead of the curve
Ripple company is currently involved in a lawsuit filed by the SEC over the sale of XRP in 2013. Garlinghouse warns that governments control financial systems. He says regulations are unlikely to change over the years. Answering a question about the lack of regulatory certainty in the crypto industry, Ripple CEO stated that regulatory clarity is a problem that needs to be resolved, adding that the US is lagging behind in setting clear rules for the crypto industry:
I say don’t get involved in the US because that’s where some are hostile and uncertain, and there’s much better clarity in Japan and Singapore, or go to Switzerland to invest globally, have more clarity, more certainty [to encourage innovation]. ] will help.
Brad Garlinghouse disclosed that he had visited the SEC several times before filing a lawsuit
, who also serves as a board member of Ripple. He commented on a variety of issues, particularly the current state of regulation against G20 countries in the United States. Later in the conversation, Garlinghouse revealed that he had personally gone to the SEC office “four or five times in the years leading up to the decision to sue,” stating that XRP should be a legally classified security.
As for altcoins whose value will eventually go to zero, Garlinghouse says that there were nearly 2,000 altcoins in the market at the time he made these statements, but this number has now reached 19 thousand. According to him, 99% of these projects will go to zero. Only altcoin projects and companies that come into contact with the real world will remain on the line. Giving XRP as an example in this regard, Garlinghouse says that the token facilitates cross-border payments and eliminates problems. As
Kriptokoin.com, SEC Chairman Gary Gensler recently talked about the SEC’s major cryptocurrency implementation plans. Details can be found here.
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