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Ripple CEO Discussed U.S. and China’s Visions for Digital Currency Industry
Summary: Brad Garlinghouse, CEO of Ripple, believes China is ahead of U.S. in terms of formulating guidelines for the digital currency industry, as he stated at the Parallel Summit on July 17. Garlinghouse discussed the different vision U.S. and China each has for the future of the digital currency industry. He believes the decision made by ...
Brad Garlinghouse, CEO of Ripple, believes China is ahead of U.S. in terms of formulating guidelines for the digital currency industry, as he stated at the Parallel Summit on July 17.
Garlinghouse discussed the different vision U.S. and China each has for the future of the digital currency industry. He believes the decision made by U.S. regulators to declare BTC and ETH as commodities instead of securities has led institutions to view coins as investment instruments. The little attention paid to the holistic crypto ecosystems in the U.S. gave China the opportunity to lead the dominant role.
“I think they’re realizing that some of these technologies may in fact be very foundational for the future of how financial systems work, and they want to make sure that they have capabilities at the heart of them”, he commented.
Garlinghouse also stressed that China now has “the mining control” over Bitcoin and Ether.
The CEO’s comments were made after China unveiled its Beijing Blockchain Blueprint on July 16, which specified an extensive outlook of blockchain applications.
By Lily Yang
Tags: Bitcoin,China U.S.,Regulation
Link: Ripple CEO Discussed U.S. and China’s Visions for Digital Currency Industry [Copy]
