While speaking on CNBC's Squawk Box Asia show, Ripple boss Brad Garlinghouse complained that the clarity of regulation of the cryptocurrency industry in the United States leaves much to be desired and is "frustrating."
"Asia is ahead of the United States regarding clarity of crypto regulation"
He mentioned some leading tech hubs in Asia that are ahead of the United States in this regard, and he hopes the country will catch up with them soon enough.
These countries are South Korea and Singapore, he clarified, and "have clear regulatory frameworks around cryptocurrencies."
"XRP is anything but a currency"
Garlinghouse raised the issue of crypto regulation in relation to the current lawsuit by the US security regulator, the SEC agency, against Ripple regarding XRP and its alleged status of “an unregistered security”, which the SEC does not. has been able to prove in court. far.
This lawsuit has arisen, according to Garlinghouse, as the regulatory framework in the United States is still unclear. It stated that it is the only country on the planet that views XRP as more than just a currency.
So far, the CEO stated, he feels good about how Ripple's defense process has gone in court.