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

Ripple CEO Brad Garlinghouse stated the variety of optimistic world regulatory developments occurring within the crypto trade is “energizing.”

In a Feb. 9 Twitter thread, Garlinghouse praised regulators in Dubai, the U.Okay., Australia, Brazil, and South Korea for offering “management” and “readability” for crypto corporations.

In keeping with Garlinghouse, the regulators in these international locations are doing the work that’s “desperately lacking within the U.S.”

Garlinghouse highlights regulatory developments

Garlingouse highlighted the varied regulatory growth every of those international locations has made in current weeks.

The Ripple CEO identified that the Dubai authorities “printed an in depth new set of tech-agnostic rulebooks for crypto market individuals, protecting compliance requirements, promoting, issuance, and way more.” He added that this continues the area’s “historical past of being tech-forward.”

In Australia, Garlinghouse famous that the authorities have been engaged on rules that will reform licensing and crypto custodial companies and bolster client safety. He stated:

“They lately printed a token mapping session and are on the lookout for public enter earlier than updating current frameworks.”

Garlinghouse stated the regulatory efforts within the U.Okay. present a chance for it to develop into a worldwide crypto hub. In keeping with him, the brand new “session [efforts] displays the federal government’s intent to determine a proportionate, clear framework that enables corporations to innovate whereas sustaining monetary stability.”

He added that South Korea’s monetary regulator tips would “delineate what can be thought of a safety token vs. a fee token, and the way these are individually ruled.”

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