Ripple Pens Open Letter To Congress – XRP
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Ripple CEO addresses US Congress with open letter
The CEO of the fintech startup Ripple, Brad Garlinghouse, and the chairman of the board of directors of the company, Chris Larsen, wrote a letter to the US Congress asking them to organize transparent regulation of the blockchain industry. In their opinion, the lack of regulatory stability jeopardizes the development of innovation and taxation in this segment..
«We call for regulations that will not harm American companies using new technology to innovate responsibly», — the appeal says.
In addition, the authors of the letter propose to introduce a classification of digital currency based on its initial specifics. Ripple executives point out that cryptocurrency is not able to replace fiat money, but it can significantly complement it.
It is possible that Garlinghouse and Larsen fear that lawmakers will not see the differences between existing cryptocurrencies and the digital asset Ripple Libra, and will apply the same regulatory parameters to them..
Recall that this summer, the CEO of the company spoke out in support of the position of US Treasury Secretary Stephen Mnuchin on regulating the blockchain segment..