- Ripple CEO Brad Garlinghouse asks for clear regulation on crypto during his latest interview on 60 Minutes.
- With its debut on a major media like 60 Minutes, the crypto industry is set to gain mainstream adoption.
The crypto market’s bull run slowed with a slight decrease in its overall market capitalization. However, total crypto trading volume increased by around 5%, hovering above the $163.64 billion. Bitcoin is trading below the $100,000 mark and altcoins also signaled a bearish momentum.
60 Minutes, one of the major news media hours in the US, interviewed Brad Garlinghouse today. The interviewer Margaret Brennan and Garlinghouse had an elaborated discussion on how the crypto industry is growing its influence on the US political system. Ripple CEO maintained his stance on the need for a clear regulatory policy from the US SEC and CFTC.
Brad Garlinghouse Asks for Clear Rules of the Road for Crypto
The Ripple CEO argued that the existing securities laws don’t apply to cryptocurrencies, highlighting it is a new technology. Regarding the need for clear regulatory policies for crypto, Brad Garlinghouse says,
When the interviewer pointed out that using cryptocurrency in the recent US elections was with the intention of writing the rules Brad was asking for, he clearly denied. Brad Garlinghouse stated he wants the rules to be written.
After more than a couple of years of the US SEC vs Ripple saga on whether XRP is a security, Brag Garlinghouse is asking for clear regulation since the current US government is focused on making the country a crypto capital. At one point of the interview, he mentioned that he didn’t consider the possibility that XRP could be a security not even once, despite being a Harvard Business School student before.
Brad Garlinghouse Compares the Journey of Crypto With the Internet
With crypto making its debut on a major media house like 60 Minutes, Brad Garlinghouse expressed his confidence that the crypto and blockchain technologies will continue to become prevalent and gain mainstream acceptance.
After watching the final version of the interview on 60 Minutes, Brad commented that 60 Minutes missed the fact that a Federal Judge ruled that XRP is not a security. And, he opines that US SEC’s John Reed Stark knows more than what he spoke about in the interview.
Finally, Brad Garlinghouse compared the growth journey of crypto to that of the internet. People who say crypto is nothing more than an illicit activity and has no real-world utility, the internet faced the same allegations in its early stages. The same history of how all the people who commented on the internet were vastly proven wrong is going to repeat with the crypto industry as well.
Final Thoughts
From almost being zero to growing into a multi-trillion dollar industry today, crypto has grown impeccably. We are already witnessing how much it has influenced the elections of a world-leading country like the US. Apart from that, the innovation and development of the underlying technology of cryptocurrencies is essential to change the face of the future.
The favorable political environment in the US combined with the ongoing bull market sentiment, the time has come for a clear regulatory policy around crypto. Donald Trump announcing David Sacks to work towards a legal framework in the crypto industry is the first step in that direction!
Highlighted Crypto News Today:
Bitcoin Sways at the $100K Margin After Recent Price Breakout
