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

Ripple CEO Brad Garlinghouse mentioned the variety of optimistic world regulatory developments occurring within the crypto business 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 accordance 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 assorted regulatory growth every of those international locations has made in latest weeks.

The Ripple CEO identified that the Dubai authorities “published an intensive new set of tech-agnostic rulebooks for crypto market contributors, masking compliance requirements, promoting, issuance, and rather 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 regulations that might reform licensing and crypto custodial providers and bolster shopper safety. He mentioned:

“They just lately revealed a token mapping session and are searching for public enter earlier than updating present frameworks.”

Garlinghouse mentioned the regulatory efforts within the U.Okay. present a chance for it to change into a worldwide crypto hub. In accordance with him, the brand new “consultation [efforts] displays the federal government’s intent to ascertain a proportionate, clear framework that permits corporations to innovate whereas sustaining monetary stability.”

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

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