Transparency in the functioning of crypto is the key factor to focus on at present.
Garlinghouse believes crypto technology can solve the current global financial troubles.
Ripple CEO, Brad Garlinghouse made an appearance in the show, Morning with Maria on the Fox Business Network channel from Davos, Switzerland. During the interview, he answers a few questions regarding the current crypto market status, tether stablecoin, crypto regulation, and also his dissatisfaction with the SEC.
Garlinghouse was attending the World Economic Forum at Davos, while answering questions about the market fluctuation, he states two years ago the value of Bitcoin was $8k now it is around $30k and in between the price touched $60k.
The market is new and the expectation of people is above reality, but he expresses that Ripple was always practical and focused on solving real-world problems. Garlinghouse also mentions that transparency is the urgent need of the hour when the topic was on Tether and its backing.
Regulations on XRP
Ripple CEO acknowledges that he was attending the WEF, to communicate with Finance ministers of different countries. And convey the idea of how crypto and technology can solve the problems prevailing around the globe.
In the interview, he also expresses his disappointment with the Securities and Exchange Commission (SEC). He mentions that Ripple was always the adult in the crypto market room but the impositions made on it are quite unacceptable.
Garlinghouse states:
“One of the ironies is, the United States is the only country on the planet that has viewed XRP as a security. Whether it’s Japan, the UK, Switzerland, Singapore – they all view XRP as a currency. Yet here at home, where Ripple is headquartered, the US SEC has taken a different position.”