Brad Garlinghaus announced the need for clear regulation of the crypto industry

Most of the participants in the cryptocurrency industry want to do the right thing in terms of regulation. This opinion was expressed by CEO Ripple Brad Garlinghaus during a panel discussion on the forum in Davos, Cointelegraph reports.

According to him, this requires a regulatory framework that would serve inherent principles of “transparency and certainty”.

“But when the rules of the game are unclear, it is very difficult to cope with this,” said Garlinghaus.

CEO Ripple emphasized that he personally visited the office of the US Securities and Exchange Commission (Sec) “Four or five times over the years that preceded their decision to file a lawsuit”.

“This demonstrates how much the United States lag behind the G20,” he added.

Harlinghaus ranked Switzerland, Singapore, Great Britain and Japan to countries with more favorable regulation for the development of technological innovation.

In October 2020, Ripple co-founder Chris Larsen announced plans to transport the company’s office to Europe or Asia due to excessive regulation of the cryptocurrency industry in the United States.

Harlinghaus later explained that Ripple took a wait -and -see one https://gagarin.news/news/what-is-hex/ on the change in jurisdiction – management wanted to understand how the situation with the start of the work of the administration Joe Biden will change.

At the end of the year, SEC filed a lawsuit against Ripple, Garlinghaus and Larsen. The company called the regulator’s actions “an attack on the entire cryptocurrency industry in the country”, and its general director is “a terrible precedent”.

The proceedings in the case are still ongoing. Earlier, Fox Business journalists have published a large -scale investigation and concluded that the department’s employees could be affiliated with Ethereum.

The possible conflict of interests was also indicated by the non -profit organization Empower Oversight.

Recall, Garlinghaus positively appreciated the course of the process and allowed its completion by the end of 2022.