Asheesh Birla, Ripple’s senior vice president of product, made important statements about the cryptocurrency industry and the regulations of the US at an event he attended recently.
The USA and Cryptocurrency Regulations While cryptocurrencies continue to spread at a dramatic pace and grow in awareness, the uncertainty and lack of regulations certainly raise questions in the minds of many investors. Birla, on the other hand, spoke to the USA and stated that the regulations should have a pro-active structure.
Stating that other countries have already taken action on a similar regulation, Birla stated that a step has been taken regarding tokens in the UK and Singapore has taken a friendly attitude towards fintech:
“A framework is being prepared for tokens in the UK, and this is perfect. Singapore has taken a very friendly attitude towards both fintech and cryptocurrency companies. I think the last thing we need before institutional investors can literally enter the industry is US-based regulations. “
The USA is indeed known as the heart of the cryptocurrency industry, and the important regulations to be made here can affect the whole world. Although the name is not much known nowadays, Bitcoin ETF was once one of the products that investors wanted the most. The fact that the financial regulators of the USA did not approve this caused a serious disappointment in the sector.
Although the USA came to the agenda months ago with the news that it will vote on new crypto money regulations, there was no development in this regard.