Ripple CEO Brad Garlinghousehas recently shared tweets to express his views on the global regulatory developments surrounding the cryptocurrency industry.
In a series of tweets, the CEO described the latest developments as “energizing”. He underlined the positive steps taken by various countries to give clarity and direction to the sector.
Garlinghouse tweeted, “The number of global regulatory developments moving in the positive direction in just the last few weeks, taking a momentary step back from what happened in the US, is energizing!” said. Known for its technology-oriented approach, Dubai has set its stance by publishing a comprehensive set of technology-independent rulebooks for crypto market participants covering areas such as compliance standards, advertising, issuance and more.
at the Australian Treasury cryptocurrency It is taking steps to reform licensing and custody for its business units and to improve consumer protection. Treasury recently published a token mapping consultation. Looking for public input before updating existing frameworks.
Koinfinans.com As we have reported, the UK government has demonstrated its intention to create a clear framework that balances innovation and financial stability.
The recent consultation of the UK HMT is a positive step in the country’s quest to become a global crypto hub, as previously stated by the government.
South Korea, on the other hand, has published guidelines to distinguish between security tokens and payment tokens and to determine how to manage them separately. The Financial Services Commission provided clarity on what would be considered a security token and payment token. Garlinghouse tweeted, “Pay attention to the commonalities. These regulators provide leadership and are doing the work we’re so desperately missing in the US. Not surprisingly, this is where companies like Ripple grow!” he added.
This positive regulatory outlook has been welcomed by the crypto community. It has the potential to increase growth and innovation in the sector. As more countries around the world clarify their stance on crypto and create favorable conditions for growth, the crypto market is likely to become more and more mainstream.