Ripple CEO calls for parity in treatment of TradFi, crypto companies
Brad Garlinghouse spoke at the DC Fintech Week on Ripple’s role in US politics, its court cases, and the challenges facing crypto companies looking at bank charters.
Speaking at DC Fintech Week on Wednesday, Garlinghouse said it was unlikely for regulators such as the US Securities and Exchange Commission (SEC) to roll back their policies after the potential departure of Chair Paul Atkins or US President Donald Trump, who nominated the head of the agency.
Garlinghouse's push for equal treatment between TradFi and crypto is spot on. The regulatory double standard has held back innovation for too long. Bank charter challenges are just one piece of a much bigger puzzle in leveling the playing field
Absolutely. We see the fact that regulators favor TradFi, i.e. Wall Street firms (banks), slows progress. The stablecoin act shows how the legislation was pushed in favor of the banks.
Spot on. The stablecoin legislation is a clear example of regulators tilting the scales toward banks. It's frustrating to see innovation stifled just to protect TradFi interests.