Ripple’s CEO says the cryptocurrency industry is still seeking regulatory clarity from the U.S.
Speaking with Bloomberg News Wednesday (July 17), Brad Garlinghouse said America lags behind other countries that have already adopted crypto regulations.
“What we are seeing, where it’s the UK, Japan, Singapore … even the European Union, more than two dozen countries have come together to provide a framework for crypto regulation,” Garlinghouse said.
“It’s frustrating that we as a country can’t get that framework in place. And instead, we have this interminable litigation coming from the SEC that really isn’t solving the problem.”
Ripple has been the target of some of that litigation. The Securities and Exchange Commission (SEC) sued the company in 2020, accusing it of conducting a $1.3 billion unregistered securities offering tied to its XRP token.