Brad Garlinghouse, the CEO of Ripple, expressed his concerns about the “convoluted” regulations in the United States, which, in his opinion, will lead more cryptocurrency companies to leave the country. Unlike Europe, which provides clarity and constructive interaction with regulatory bodies for digital assets, the U.S. faces regulatory uncertainty.
“Europe has truly taken the lead, and countries like the UAE, the United Kingdom, and Singapore—they provide clarity on how digital assets will be regulated. This enables entrepreneurs and investors to interact constructively with regulatory authorities,” said Garlinghouse.
Recently, Ripple also announced its acquisition of Metaco, a Swiss cryptocurrency custody firm. This strategic acquisition will help Ripple strengthen its position and expand its capabilities in the field of cryptocurrency asset storage.
The situation surrounding the regulation of the crypto sphere continues to cause concern and unease in the industry. The U.S. is facing challenges in developing clear and effective rules, which could negatively impact their competitiveness on a global scale. At the same time, countries that provide transparent and stable regulations are attracting the attention of cryptocurrency companies and investors, stimulating their development and growth.
