RIPLE CEO blows the whistle on the huge gap between traditional and crypto currencies
Ripple CEO Brad Garlinghouse Bridging the gap between crypto firms and traditional banks. According to a Ripple official, regulators hold top firms to higher standards, even if they follow the same rules. Garlinghouse urges good governance so that all players in the financial system have an equal opportunity to grow as ridple awaits the decision of its National Charter.
GarlingHouse urges regulators to apply equal standards to Crypto and banking
At DC Fintech Church, RIPLE CEO he spoke almost How regulators treat Crypto companies and traditional banks differently. Brad Garlinghouse said that crypto firms are similar I’m a bully The general review of the face and many regulatory problems, even if they follow the same compliance rules aimed to stop crypto crime and protect users, and your offices (OFF). These are the same rules that regular banks follow. However, he said that crypto companies often face more challenges and are judged more harshly.
He also said that a change in leadership, such as in the morning of security in the US (sec) or the White House or the White House, may not fix the problem unless there is a clear plan for fair and equal treatment. According to Garhlinghouse, the problem is not about who is in charge but about having one set of rules that are right for everyone. Ripple CEO is calling To find out the nature of the finances Where Crypto and traditional finance can work and grow under similar conditions.
Rigple Awaits National Charter as Industry Pressures Grow on Regulators
Ripple is awaiting a decision on its National Bank Charter, which the company applied for in July. If allowed, it can help to tear you are more connected in the US financial system And make it easier for the company to operate like a regular bank. But not everyone supports this move. Some US banking groups have asked the Office of the Comptroller of the Currency (GCE) to delay or stop accepting the charts of digital asset firms.
According to US banking groups, offering National Bank Termers to digital asset firms such as ripple can create policy and process challenges within the traditional banking system.
GarlingHouse, however, believes that crypto firms should have the same access to critical financial instruments as traditional banks. Such access, he explains, can include the validity of Federal Reserve Master Account, Allowing crypto firms to move money efficiently and take full part in the wider financial ecosystem.
Traditional banks want to maintain control, while crypto firms like Ripple push for inclusion and fairness. Like waiting Because of the charter decision, Garlinghouse continues to call for balance and fairness as the key to The Future of Finance.
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