US isn't prepared to regulate new industries like crypto, says Ripple CTO
Cointelegraph
Published Apr 09, 2021 02:00PM ET
Updated Apr 10, 2021 04:00PM ET
David Schwartz, chief technology officer of Ripple Labs, said United States regulators’ response to the crypto industry may help XRP in the end but is also likely to hurt burgeoning companies.
The Ripple chief technology officer told Cointelegraph he believes many crypto and blockchain firms considering getting started in the United States or relocating from abroad face a deterring regulatory environment. He described U.S. regulators as "overlapping regimes" wherein bodies like the Securities and Exchange Commission, Financial Crimes Enforcement Network, and Commodity Futures Trading Commission might not come to a consensus as to what a security is versus a currency in terms of digital assets.
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Written By: Cointelegraph
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