Ripple Ready for Increased Government Scrutiny
(https://ethereumworldnews.com/wp-content/uploads/2018/07/Ripple-Exec-Regulation.jpg)
Executives at Ripple are giving the impression that they welcome the introduction of regulators and increased scrutiny in the space of cryptocurrency.
While some community members and investors are skeptical of increased regulation, seeing it as an attempt to stifle the growth of cryptocurrency and introduce the centralization that the industry has been designed to move away from, others view the presence of regulators as a natural step in the maturation process of the industry.
Ripple Embracing Regulation
Ripple, the parent company behind the cryptocurrency XRP, has been dealing with the possibility of regulation for some time as a startup targeting banking and financial services. While the currency XRP is embroiled in a battle over whether the coin constitutes a security, Ripple is moving forward in preparation of working with regulators and using the increased scrutiny to further their brand and business. Speaking in an interview with Fox Business, Ripple’s chief marketing strategist Cory Johnson has expanded upon the company’s view towards regulation, stating that he believes it can work to the benefit of Ripple and that they are “thrilled” with regulators finally getting more involved in cryptocurrency. In addition, he outlined how regulators would help protect both crypto businesses and customers, filling in some of the legal gray space and lack of accountability that most of the industry operates under,
“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”
More here, https://ethereumworldnews.com/ripple-exec-regulation-2018/