Brad Garlinghouse, CEO of Ripple, said the positive global regulatory developments taking place in the crypto industry are “energizing.”
On Twitter on February 9th threadGarlinghouse praised regulators in Dubai, UK, Australia, Brazil and South Korea for providing “leadership” and “clarity” to cryptocurrency companies.
According to Garlinghouse, regulators in these countries are doing a job “desperately lacking in the United States.”
Garlinghouse Highlights Regulatory Developments
Garlingouse highlighted various regulatory developments these countries have made in recent weeks.
The Ripple CEO noted that the Dubai government has “published an extensive new technology-agnostic rulebook for crypto market participants, covering compliance standards, advertising, issuance, and more.” He added that this continues the region’s “history of technological progress”.
In Australia, Garlinghouse noted that authorities are reforming licensing and crypto custody services and working on regulations to better protect consumers. He said:
“They recently published a token mapping consultation, soliciting public input before updating the existing framework.”
Garlinghouse said regulatory efforts in the UK offer an opportunity for the UK to become a global crypto hub. According to him, the new “consultation” [efforts] It reflects the government’s intention to establish a balanced and clear framework that allows businesses to innovate while maintaining financial stability. “
He added that South Korea’s financial regulator’s guidelines “explain what is considered security tokens and payment tokens and how they are managed separately.”