Ripple CEO Brad Garlinghouse Agrees with Trump’s Criticism While Urging the US to Take Leading Role in Crypto Race   

Brad Garlinghouse suggests that the US should drop Chinese-controlled technologies, naming Bitcoin and Ethereum as examples      

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Brad Garlinghouse, the CEO of San Francisco-based startup Ripple, has weighed in on the hassle surrounding Facebook’s Libra cryptocurrency during a recent interview with Fox Business host Maria Bartiromo.

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In a recent tweet, Garlinghouse reiterated his stance on Libra and called for more regulations in the US that would help America to take a leading role in the crypto race. 

Missing the forest for the trees

You know that cryptocurrency is hitting the mainstream when US President Donald Trump tweets about Bitcoin and Treasury Secretary Steven Mnuchin gives briefing on crypto. 

This growing interest in crypto among the highest echelons of American politics perceived by many as an ominous sign of a possible crackdown.

Garlinghouse, however, agrees with President Trump, claiming that he’s there is a need for regulations in the crypto space.

I very much agree with the secretary and the president on these points. What we need to be clear about for US regulatory policy is that this isn’t one big broad brush (everything is the same). Then I think we risk stifling innovations here in the United States.”

America first

When asked to address the recent WSJ op-ed about how Libra will help the unbanked, Garlinghouse stated that banks wouldn’t go away. The purpose of Ripple is to make banks more efficient and more competitive on a global scale.

According to the Ripple CEO, the US government is doing things that are “favoring” Chinese-controlled technologies, such as Bitcoin and Ether.

Garlinghouse suggests that the US government should assert its dominance in the crypto space by working on crypto regulations like during the Internet boom in the 90s.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.