Ripple Is Pro Regulation Of XRP And Cryptos

Ripple has been in the spotlight this year a lot despite the global crisis that we’re in.

Cryptos, in general, have been receiving increased interest these days, and more people are seeing a viable, safe haven in some digital assets.

The US faces the risk of falling behind China

Now, according to the latest reports, Ripple CEO Brad Garlinghouse said that the US is at risk of falling behind China in the race to launch a robust digital economy considering the rapid advancements in payments tech.

Garlinghouse hopped on Twitter and said that the policymakers in the US would have to step up the game in order to be able to compete.

Ripple‘s CEO is citing an article that’s been published by Foreign Affairs, which addresses the implications of China’s digital currency on the current dominance of the US dollar.

He continued and explained, “Rather than resting on the laurels of the dollar’s decades-long dominance, the United States must act now to protect its economic advantage in the coming era of national digital currencies.”

You may be aware of the fact that China conducts real-world tests of the digital yuan and this advancement could place the US at a risk of losing the power to impose economic sanctions.

Garlinghouse said that the US policymakers are not prepared for the consequences and China will be able to expand its influence and boost its capacity for “economic coercion in Africa, the Middle East, and Southeast Asia.”

Check out the complete article by the Foreign Affairs.


People Mentioned

Brad Garlinghouse
Brad Garlinghouse

Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

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An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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