Ripple CEO praises ‘positive global regulatory developments’ happening outside US

Ripple CEO Brad Garlinghouse said the number of positive global regulatory developments happening in the crypto industry is “energizing.”

In a Feb. 9 Twitter thread, Garlinghouse praised regulators in Dubai, the U.K., Australia, Brazil, and South Korea for providing “leadership” and “clarity” for crypto firms.

According to Garlinghouse, the regulators in these countries are doing the work that is “desperately missing in the U.S.”

Garlinghouse highlights regulatory developments

Garlingouse highlighted the various regulatory development each of these countries has made in recent weeks.

The Ripple CEO pointed out that the Dubai government “published an extensive new set of tech-agnostic rulebooks for crypto market participants, covering compliance standards, advertising, issuance, and much more.” He added that this continues the region’s “history of being tech-forward.”

In Australia, Garlinghouse noted that the authorities were working on regulations that would reform licensing and crypto custodial services and bolster consumer protection. He said:

“They recently published a token mapping consultation and are looking for public input before updating existing frameworks.”

Garlinghouse said the regulatory efforts in the U.K. provide an opportunity for it to become a global crypto hub. According to him, the new “consultation [efforts] reflects the government’s intent to establish a proportionate, clear framework that allows firms to innovate while maintaining financial stability.”

He added that South Korea’s financial regulator guidelines would “delineate what would be considered a security token vs. a payment token, and how those are separately governed.”

Bookmark (0)
ClosePlease loginn

Related Posts

Rocket League world champions TeamBDS partners with Xborg for web3 fan activations

Rocket League world champions TeamBDS partners with Xborg for web3 fan activations

Blockchain meets esports as XBorg Partners with Team BDS

Bookmark (0)
ClosePlease loginn
Citigroup believes CBDCs will lead the way to mass adoption

Citigroup believes CBDCs will lead the way to mass adoption

Citi said that mass adoption will happen when more than a billion people are using blockchain technology without knowing they’re using it.

Bookmark (0)
ClosePlease loginn
SBF pleads not guilty to all 13 federal indictments

SBF pleads not guilty to all 13 federal indictments

Sam Bankman-Fried’s trial is set to begin in October. He is also facing civil charges filed by the SEC and the CFTC.

Bookmark (0)
ClosePlease loginn
Cold wallet Ledger raises $108M as self-custody wallets gain popularity

Cold wallet Ledger raises $108M as self-custody wallets gain popularity

Hardware wallet ledger raised another $385 million in 2021, and its current valuation sits at $1.41 billion.

Bookmark (0)
ClosePlease loginn
Hong Kong signals licensing over 8 crypto companies by year-end

Hong Kong signals licensing over 8 crypto companies by year-end

Licenses will be issued under Hong Kong’s new crypto licensing regime, composed to support crypto firms looking to set up shop in the city.

Bookmark (0)
ClosePlease loginn
Coinbase, Kraken plan to continue operating in Canada as regulatory rules change

Coinbase, Kraken plan to continue operating in Canada as regulatory rules change

Kraken and Coinbase are among the first exchanges to officially declare their intent to remain in Canada.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *