Ripple exec says “Executive order” will be a turning point

The chief executive officer of Ripple firm shared his stance on the “Executive Order on Cryptocurrencies” and noted that it can be a point of conflict for the Crypto industry.

The Russia vs Ukraine war has been going on for 17 days and this war activity between these two countries resulted in some big changes for many countries and also impacted many money markets. Here discussion is not related to the imposed Sanctions on Russia or debate on Russia to invade sanctions with the use of cryptocurrencies but obviously, Russian military invasions on Ukraine forced the US government agencies to work on its most awaited “Executive Order on Cryptocurrencies” plan, to bring better policies, which was announced in October of last year.

However, the key points of the “Executive Order on Cryptocurrencies” are still in the private domain but the majority of the influential government and non-government sector’ people claimed that the latest effort of the US lawmakers is to bring a positive and more regulated ecosystem for the crypto Industry. 

On such questions and expectations on “Executive Order on Cryptocurrencies”, Ripple CEO Brad Garlinghouse also shared his stance and claimed that it may be a new turning point for this crypto industry. However, he ensured that crypto is here to stay but hinted that he is still skeptical about it. 

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Brad added:

“First and foremost, this is an affirmation that crypto is here to stay. The thoughtful policy involves timely input from players (and there’s a lot!) across the federal govt. I don’t want to mistake activity for progress, but this does feel like it could be a turning point.”

Through the second tweet, Brad asserted that in crypto we actually need clarity on the rules and regulations imposed on the crypto industry. He said that the US needed to provide a clear regulatory framework so that the industry can easily move toward growth.

The White House finally says what we and the industry have been saying for years – if the US wants to maintain its status as a responsible tech leader, it needs to provide a clear regulatory framework for an industry that’s exploding in growth (40M Americans and counting!).

— Brad Garlinghouse (@bgarlinghouse) March 9, 2022

Ripple CEO also dragged the ruling of US securities and exchange commission (SEC) on crypto Industry and claimed that SEC’ calmed actions & regulation did wrong but it can be fixed through the collaboration of all agencies to work on this matter and also Ripple firm is ready to help in this matter. 

Years of damage done by the SEC’s siloed regulation by enforcement approach can be undone through collaboration between all agencies. Ripple stands ready to educate and assist.

If we are to catch up with the rest of the world, we need prompt and decisive action ASAP.

— Brad Garlinghouse (@bgarlinghouse) March 9, 2022

On all such expectations, many crypto pundits are predicting that either the morning of the first working day of next week will bring a bull run in the crypto industry or it will introduce a short significant correction. However it will be a matter of time to see the actual order from EO on crypto.

Read also: Ethereum2 smart contract locked more than 10 M ETH tokens

Ripple exec says “Executive order” will be a turning point

 

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https://bitcoinik.com/ripple-exec-says-executive-order-will-be-a-turning-point/feed/

 

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