Ripple CEO Brad Garlinghouse Commends Congress for the Goodwill in Regulating Crypto Market

• Garlinghouse highlighted that smart crypto regulations are key to realizing the future of Web3 in the U.S. 
• Ripple CEO commended Congress for kickstarting crypto regulations, unlike the Gary Gensler era.
• Enhanced clear crypto regulatory outlook in the U.S. has bolstered mainstream adoption. 

Ripple Labs CEO, Brad Garlinghouse, testified before the United States Senate Committee on Banking, Housing, and Urban Affairs on Wednesday, July 10. Garlinghouse told the committee that “smart” legislation for the crypto industry should be based on the core principles of consumer protection and a pro-innovation mindset.

Garlinghouse noted that cryptocurrency investors need regulations to protect them from fraud and scams in the nascent industry. With the cryptocurrency industry attracting some bad actors, Garlinghouse told the banking committee that the space needs proper oversight.

However, Garlinghouse reminded the lawmakers that the United States has lagged behind other major financial hubs in regulating the crypto market. As such, Garlinghouse urged the lawmakers to consider smart regulations that foster pro-crypto innovations.

“ A constructive and workable f…

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