Ripple CEO: China leads the way in cryptocurrency regulation

Brad Garlinghouse, CEO and member of the board of directors of cryptocurrency company Ripple, shared his opinion on the superiority of Chinese policy on regulating cryptocurrencies over the United States.

China sees potential in cryptocurrencies

During the Chamber of Digital Commerce event yesterday, July 17, Brad spoke about the extremely positive impression of the Chinese government's actions on cryptocurrencies, because China, above all, recognizes the great potential of decentralized finance.

 

“I think that they understand that some of these technologies will serve as a basis for the future functioning of financial systems, and they want to be the first to cover them,” said the CEO of Ripple.

The right attitude drives the industry 

Garlinghouse used the example of 2018-2019, when the US SEC recognized Bitcoin and Ethereum as commodities, not securities. Such decisions, according to the head of the cryptocurrency company, do not contribute to the development of the industry, unlike the decisions of the Chinese government.