In an open letter to the US Congress calls for a Ripple-CEO, Brad garlinghouse, regulatory clarity, and differentiated rules for crypto and Blockchain-companies. Without such innovations would be ousted and the US-the Exodus of companies abroad. Future regulations to prepare, this week a hearing in the U.S. Senate. Especially with a view on Facebook’s controversial currency project Libra, the deputies could turn the screw on the Act.
By David Barkhausen
On 29. July 2019BTC$9.566,00 0.59%part Facebook Twitter LinkedIn xing mail
laws and regulations don’t mean to the economy not only restrictions and prohibitions. In young industries, forward Innovation, create clear conditions for sustainable growth. A calling for such regulatory clarity for the crypto industry for years, is Ripple-CEO, Brad garlinghouse.
Now, just because Facebook’s currency project Libra could bring new regulations and rules, he stresses the claim again.
Together with the Ripple-Chairman Chris Larsen, he warns the US Congress in an open letter, all of the Blockchain and crypto-company to throw it in a pot.
the Clear rules, however, an essential growth factor for the sector. Without these significant risks exist, however, only for further Innovation. In addition, the jobs of the company and, ultimately, the generated Tax revenue would be at risk. Here, the United States should not miss the connection:
will Undoubtedly have the Blockchain and the digital currencies for a larger financial part and stronger economic growth. As with the Internet, the US will have the Chance to take on a leadership role, to take advantage of these economic opportunities while protecting the privacy and the [financial] stability.
Now, the key is to negotiate a responsible and innovative laws, the company does not discriminate against, threaten the Ripple of heads. Without a differentiation of rules, the US authorities ran the risk that the company moved abroad.
with a view to crypto-currencies and especially Facebook’s Libra, you are urging the deputies to take the “fundamental differences” between the different currencies in the views. Future laws should not scissors, different tokens of a comb.
Garlinghouse: crypto-currencies can’t replace the US Dollar “”
Here, garling house, and Larsen stress that most of the Blockchain and crypto-company to a responsible economy were actors. This would keep the laws and do not wanted to Hiking rules.
companies such as we in the United States and other foreign countries, the innovations of [the crypto-sector] to implement, in partnership with the regulated financial institutions […]. From our point of view, digital currencies can be added to existing currencies like the US Dollar, but not replace,
try Garlinghouse and Larsen, the scepticism of the industry to mitigate.
just such a mistrust directed towards crypto-businesses in the public discussion again and again. With a view on Bitcoin, Ethereum, Ripple & co., the U.S. deputies had demonstrated in the past their prejudices time and again. Especially Facebook’s Stable Coin Libra needs to compete these days against stubborn skepticism and, at last, even the prohibition of claims.
to prepare For upcoming regulation, the Blockchain and crypto-businesses, is tomorrow, Tuesday, 30. July, the next hearing in the banking Committee of the US Senate to. As a representative of the industry, the senators should then Circle CEO Jeremy Allaire representative to answer questions. Also Allaire had previously made again and again in public for a regulatory safety and security in the crypto-Space is strongly.
those interested can watch the hearing here on Tuesday live.
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