Ripple News and Price Overview: Ripple Executive Wants Increased Regulation for Cryptocurrencies. Sunday, July 29
Important Ripple News
Ripple Executive Wants Increased Regulation for Cryptocurrencies
Many in the crypto community think that increased regulations would stifle innovation in the industry, however, there are others who see regulation as necessary for the maturation of the industry.
Ripple, the San Francisco based company has always wanted increased regulatory activities for the industry to ensure protection of users. The bank-friendly company’s chief market strategist, Cory Johnson reiterated that position this week, saying that the company is happy to see that regulators are getting more involved in the industry.
In an interview with Fox News, Johnson said, “One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected,” he said, adding:
“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.”
Ripple Executive Thinks US is Lagging Behind
Cory Johnson is the Ripple chief market strategist who said that the US is lagging behind among global peers when it comes to engaging the nascent industry. Continuing, he said, “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.
He’s not alone in that view. In fact, regulators themselves have made similar comments in recent days.
Earlier in the week, the Commodities Futures Trading Commission Chairman, J. Christopher Giancarlo announced that the United States may be four years behind in its understanding and regulation of blockchain technology and its applications prominent among which is cryptocurrencies
Giancarlo echoed the sentiments of Cory Johnson, has been an advocate of regulation that would enable the industry thrive.
Ripple is among the fintechs that have offices located across the world and has been engaging regulators across the globe.
XRP/USD Price Chart, Sunday July 29th:
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