Brad Garlinghouse, the CEO of Ripple, has published the text of his anticipated testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, highlighting the importance of compliance and the need for clear governmental regulations in the crypto space.
Ripple's Compliance-First Approach
Garlinghouse noted that Ripple has taken a "compliance-first" approach. He emphasized that despite legal hurdles, Ripple actively works to ensure adherence to regulatory standards.
Need for Smart Legislation
Garlinghouse called for establishing clear boundaries for financial regulators to support sustainable development in the U.S. crypto market. "The U.S. possesses the world's deepest capital markets, the most advanced technical talent, and the spirit of innovation," he stated. Such regulations, he believes, would foster job creation and increase tax revenue.
Advantages of XRP Cryptocurrency
Garlinghouse highlighted that the XRP cryptocurrency boasts fast, cheap, and highly scalable transactions. He also mentioned that Ripple has 15 offices and around 900 employees globally.
Brad Garlinghouse's testimony before the Senate underscores key issues for the future of cryptocurrency regulation in the U.S. He believes clear laws are essential to support innovation and growth in this sector.
