Responding to the reluctance of US banks to warmly embrace cryptocurrencies, the Ripple CEO Brad Garlinghouse recently explained his take on these underlying reasons that underpin this reluctance. Speaking at the digital-asset accessible DC Fintech Week conference, Garlinghouse detailed his vision by pointing to the lackadaisical attitude of authorities concerning the crypto field, particularly the Options Clearing Corporation (OCC). Consequently, the majority of US banks have raised apprehensions towards engaging with digital assets, despite Ripple’s legal accomplishments.
Furthermore, Garlinghouse raised alarms about the potential repercussions that could develop if the nation’s governing bodies reel away from introducing explicitly constructive cryptocurrency regulation. He underlined that other countries, such as the United Arab Emirates and United Kingdom, are positioned to take the mantle and make strides via issuing polished policies that gain massive investments from this industrial sector.
The Ripple CEO felt hopeful saying that this might improve closer to the commencement of the next decade. In the interim, Ripple is seeking to shift its growth to new areas by virtue of these providing congenial fishers which host its structure better than us. To end his stance on the matter, Yassin Mobarak, founder of Dizercapital, expressed that he affirms Garlinghouse’s reflections and reflexes that blatant crypto acceptance may not be feasible unless the political standing of the USA positions protestants at the White House.
Garlinghouse’s agency emphasize the paramountcy of forming plain regulatory figures for the stimulation and absorption of cryptocurrencies. Allowing the United States to extend itself towards leadership in the crypto-economic sphere globally. Reverse these same structures will give cryptocurrency business the fortitude it takes to hit resistance and actively showcase its vim.
