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Ripple CEO Brad Garlinghouse urges regulatory clarity amid XRP lawsuit

In this post:

  • Ripple CEO Brad Garlinghouse emphasized the need for regulatory clarity in the blockchain industry during his speech at Paris Blockchain Week.
  • Garlinghouse highlighted the difference between Ripple (XRP) and Bitcoin, stating that XRP is not classified as a security.
  • Despite regulatory hurdles, Garlinghouse expressed confidence in the eventual introduction of cryptocurrency exchange-traded funds (ETFs) in the United States.

While delivering a speech at the Paris Blockchain Week recently, Ripple CEO Brad Garlinghouse highlighted the fact that before the conclusion of the XRP lawsuit, the blockchain industry truly requires proper regulatory clarity. Brad Garlinghouse’s comments have received a lot of feedback in the cryptocurrency community and thus have shown Ripple’s general position on regulatory matters as well as the company’s strategic plans.

Brad Garlinghouse urges patience for crypto ETFs

Garlinghouse underlined the importance of having such regulations in place to provide investors with clarity and assurance to fuel innovation. In this regard, he stressed that well-comprehensible and transparent rules are designed to gain the stakeholders’ trust and lift the industry. As a result, he presented the difference between Ripple(XRP) and Bitcoin and specified that Ripple(XRP) is not considered ‘security’, which is why it is different from other ones.

Enumerating the barriers preventing the establishment of cryptocurrency exchange-traded funds (ETFs) in the United States, Brad Garlinghouse admitted that there are regulatory difficulties put forward by the U.S. Securities and Exchange Commission (SEC). In spite of these challenges, he exhibited confidence that ETFs would eventually be introduced.

Therefore, he appealed for patience and tolerance in building a regulatory framework that could facilitate the introduction of ETFs. Furthermore, Garlinghouse revealed Ripple’s intent to release a USD stablecoin at the end of the year, indicating its ambition to extend its product range while staying within the regulatory framework.

Ripple CEO highlights developer attraction

Made at Paris Blockchain Week, Garlinghouse’s speech revealed a lot about the future movement and digital currency trends. He paid homage to that by underscoring how the ability to attract more developers can ultimately become a source of vast innovation and growth. Employees were amazed by the chairman’s statements that they had imbued this work and understood what he said about who is a thought leader in the blockchain field.

As Garlinghouse has taken important measures regarding regulatory clarity at the time when Ripple reversed the legal hurdles on its way to strategic goals, Garlinghouse’s call is timely and capacious. The advocacy for transparent guided policies and regulations is what underlines Ripple’s promise to implement compliant frameworks with bold innovation in the industry. Ripple is riding the wave of the fast-evolving cryptocurrency space, and a large part of this success is thanks to Garlinghouse’s strategic and visionary leadership, which defines Ripple’s growth and engagement with the regulatory environment.

Source from: https://twitter.com/bgarlinghouse/status/1777974137450881242

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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