Fun

News Feed - 2023-09-13 02:09:39

Brayden Lindrea3 hours agoUS ‘the only country’s crypto startups should avoid, says Ripple CEOBrad Garlinghouse says Singapore, the U.K., the UAE and Switzerland are jurisdictions with “smart” crypto policies that he thinks the U.S. should adopt.1682 Total views71 Total sharesListen to article 0:00NewsJoin us on social networksThe United States is one of — if not the worst — place to launch a cryptocurrency startup in the world right now, according to Ripple CEO Brad Garlinghouse, whose firm is in a legal battle with the U.S. securities regulator.


“The only country I would not encourage you to start a company right now is in the U.S.,” Garlinghouse said on a Sept. 12 panel at Token 2049 in Singapore.


The Ripple boss wants the U.S. to take note from the likes of Singapore, the United Kingdom, the United Arab Emirates and Switzerland by enacting policies that encourage crypto innovation while protecting consumers.Bloomberg’s Annabelle Droulers (left) moderating a panel with Garlinghouse (center-left), OKX’s Hong Fang (center-right) and BitGo’s Mike Belshe (right). Source: Andrew Fenton/Cointelegraph


Garlinghouse pointed the blame at the Securities and Exchange Commission, claiming it was engaging in a political war with the industry with its lawsuits.


That lawsuit strategy isn’t working, said Garlinghouse, and claimed Ripple and Grayscale’s court wins over the SEC may suggest the court’s mood is turning in the industry’s favor.“I think you’re seeing the momentum shift. I think that it used to be that a lot of judges were like: ‘Well, the SEC is always right,’ and they weren’t fighting that [but] I think you’re starting to see the pattern change.”


While the outcomes in Ripple and Grayscale aren’t legally binding, Garlinghouse said the results provide more clarity to crypto exchanges and custody providers operating in the U.S. — at least for now.


OKX president Hong Fang acknowledged the politics at play but stressed for crypto firms to focus on what they can control.“We can only control what we can control, which is to build the right product and to focus on the technology and to support responsible regulation.”


Despite the U.S. being a big market for Ripple, Garlinghouse said it’s expanding services to countries he claims are more progressive and better understand the potential benefits of blockchain technology.We might not ready for a spot Bitcoin ETF


During the panel, Fang said he thinks investors may not be ready for custody solutions built around a prospective spot Bitcoin (BTC) exchange-traded fund because much of the new blockchain-based infrastructure hasn’t been battle tested by the masses.


“I think there"s a huge implication on custody [...] The question I have on my mind is whether our industry is actually ready for it” he said.


Related:Crypto community jubilant over Grayscale decision, but uncertainty remains


Fang acknowledged a spot Bitcoin ETF will lead to more institutional inflows but isn’t convinced that investors can now stomach Bitcoin’s volatility and second guessed the readiness of continuing to build more applications on top of Bitcoin.


“We are actually creating something that is new, that we can build on top of, a new monetary system that hasn"t come to fruition yet,” Fang said. “So I don"t know whether we"re ready for that yet from an industry infrastructure perspective.”


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Deposit risk: What do crypto exchanges really do with your money?# Singapore# Business# Ripple# SEC# United States# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?10 years later, still no Bitcoin ETF — but who cares?Ripple is staring down an opportunity to fix its closed system

News Feed

Dogecoin Jumps Over 16% In The Last Week — More Gains To Come?
Este artículo también está disponible en español. Dogecoin (DOGE), initially a mere meme, is demonstrating significant market strength once more. On October 16, 2024, the
How to buy Bitcoin in Malaysia
Max Moller50 minutes agoHow to buy Bitcoin in MalaysiaLearn how to safely purchase Bitcoin in Malaysia, exploring legal regulations, various purchasing methods and essential considerations for security and accessibility.
Susquehanna International Group adds $1B in Bitcoin ETFs to portfolio
Ana Paula Pereira2 hours agoSusquehanna International Group adds $1B in Bitcoin ETFs to portfolioAccording to a filing with the U.S. SEC, Susquehanna International Group invested more than $1 billion in Bitcoin ETFs in Q
SEC to drop investigation into Ethereum — Consensys
Jesse Coghlan7 hours agoSEC to drop investigation into Ethereum — ConsensysThe SEC’s enforcement division said it’s closing its investigation into Ethereum, though Consensys says the fight isn’t over yet.7503 To
Bitcoin just printed a $20K monthly candle — Its biggest ever in USD
William Suberg2 hours agoBitcoin just printed a $20K monthly candle — Its biggest ever in USDBTC price returns are already hitting records, with Bitcoin eyeing an attack on all-time highs after preserving $60,000.1840
Goldman Sachs: Gold Is Becoming Poor Man’s Crypto
Goldman Sachs: Gold Is Becoming Poor Man"s Crypto Goldman Sachs’ head of energy research says, “Just like we argue that silver is the poor man’s gold, gold is
XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important
Este artículo también está disponible en español. Crypto analyst Dark Defenderhas revealed a pattern in which the XRP price has formed on the daily chart. In his analysis
Report: Russia Remains a ‘Key Market for Crypto,’ Commands the 3rd Largest Bitcoin Hashrate in the World
Report: Russia Remains a "Key Market for Crypto," Commands the 3rd Largest Bitcoin Hashrate in the WorldThe fervor for cryptocurrency assets in Russia has grown wild over the last f
Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’
Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as "Safe" A class-action lawsuit against Binance US has been filed in California that all
C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking
C6 Bank"s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking On April 13, a C6 Bank customer in Brazil shared screenshots of his onl
Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints
Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints Another U.S. county is facing troubles related to crypto mining
Ethereum Breaks Out Of Descending Triangle Pattern – Fakeout Or Recovery Rally?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu