US Not Ready to Regulate New Industries Like Crypto, Says Ripple CTO
David Schwartz, CTO at Labs, said that the response from US regulators to the crypto industry may help XRP in the end, but is also likely to hurt growing companies. Ripple’s chief technology officer told Cointelegraph that he believes that many crypto and blockchain companies that are considering starting in the United States or relocating from abroad face a dissuasive regulatory environment. He described US regulators as “overlapping regimes” in which bodies such as the Securities and Exchange Commission, the Financial Crimes Enforcement Network, and the Commodity Futures Trading Commission may not reach a consensus on what a security is against a currency in terms of digital assets. Reading on Coin Telegraph
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