0
📰 News

Ripple CEO Discusses His Talk with US Treasury Chief, Warns US Lawmakers May Lose Crypto Industry to Foreign Investors

  • Yuri Molchan
    📰 News

    Ripple founder tweets he has spoken to the US Treasury chief about possible regulation of crypto by president Trump and expresses his thoughts to the community


Ripple CEO Discusses His Talk with US Treasury Chief, Warns US Lawmakers May Lose Crypto Industry to Foreign Investors
Contents

After the recent statement of Steven Mnuchin, the secretary of the US Treasury about siding with president Trump regarding cryptocurrencies and calling crypto a national security threat and expressing his concerns about Facebook’s Libra, Brad Garlinghouse, the Ripple CEO, has had a discussion with him.

The head of the crypto giant has shared the outcome and his thoughts in a series of recent tweets.

👉MUST READ

Crypto Is Now 2020 President Election Issue, Thanks, Mr Donald Trump

Crypto Is Now 2020 President Election Issue, Thanks, Mr Donald Trump

Collaboration with the financial system is a priority

Garlinghouse says he agrees with Mnuchin who doubts that cryptocurrency can ever replace fiat money, such as USD or EUR, at least while Garlinghouse is alive. 

The recent critics of Bitcoin and crypto expressed by the US president Trump has got the head of Ripple to long and hard thinking.

The results of this thinking seems to be the thought that lacks any innovation – Garlinghouse believes that regulation of crypto and blockchain is the key to further development of the industry.

For the industry to succeed, we need to work with regulators and within policies. Full stop.

It is crucial to realize, he adds that a lot of legal businesses are working around crypto assets and the industry has changed a lot since Silk Road was shut down.

Foreign interests may take control over the industry in the US

Further, Brad Garlinghouse warns that even though the crypto industry must be regulated appropriately, it must not be ignored, otherwise lawmakers can run a risk of foreign interests taking control over it in the US.

Cover image via cryptocomes.com
Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings