Ripple [XRP] welcomes growing regulatory scrutiny
If history is anything to go by, the cryptocurrency industry has faced severe resistance from regulators around the world. The climate, however, seems to be changing with multiple countries now legitimizing digital assets after passing proper laws and regulations. A Ripple [XRP] executive has said that the San Francisco-based blockchain platform is thrilled that more regulators are scrutinizing the industry.
“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected, We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved,” he said.
Johnson, however, thinks that the US is far behind other nations when it comes to speedy and effective cryptocurrency regulations. It must be noted that the “bank-friendly” XRP operates from various offices across the world.
“A lot of other countries are moving faster than the U.S. to try to provide really clear lanes of where businesses can act — what’s right and what’s wrong,” he said.
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