In his recent interview at CNN, the CEO of Ripple Brad Garlinghouse talked about various topics that are mostly discussed in the crypto community. He also commented confidently with clarity on how Ripple is going to change the digital world- especially the cross-border payment system.
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The discussion between the Garlinghouse and the CNN host Julia Chatterley leads to very healthy speculations about the year, 2020. In an answer to who will win in the cryptocurrency, the Ripple CEO said there is no competition in the crypto world at all as every potent crypto project is serving in its own way. And there should not be any rivalry as the users should be the ultimate goal.
At the start of the year, Garlinghouse made positive predictions for the year as he claimed crypto adoption and acquisitions will see a boom in 2020. His propositions are dressing into practical shape as crypto space has witnessed the acceptance of digital currency by the giant financial companies of the world. Similarly, adoption is also surging following the bullish price outbreak.
Crypto Regulation is Necessary for Adoption
The latest interview revealed the CEO’s new speculations for the crypto future- especially about the crypto regulation. He is optimistic that governments will understand the desiring need of the digital currency in this tech era and tackle the issue with flexibility.
The central banks, as well as financial regulatory departments, are laying out rules and regulations to enable the crypto usage on a wider scale but under government supervision. Still, some countries have not announced a clear charter for the cryptocurrency but the process, per the Garlinghouse, is on the way.
Garlinghouse touched the topic of regulation more broadly because this is a top-most issue regarding crypto adoption. He believes that the government will allow the blockchain-based virtual currencies as these are addressing the flaws in the current financial network.
Countries are Passing out New Laws for Crypto
Recently, UK lessened the taxes on the registration of low-level businesses in order to provide a flexible environment for cryptocurrency. However, the UK including the other countries of the European Union has put forth new law for money laundering: that will stop the illicit activities occurring through cryptocurrency.
For the flourishment of crypto payments in the country, Singapore gave out new law Payment Services Act to establish digital currency in the region. The populous country India also permitted citizens to hold digital assets. However, the government has forbidden banks to engage with crypto but the case regarding this is under discussion in court.