Ripple CEO Brad Garlinghouse reiterated his call for a harmonious and coordinated approach to legislation regulating the cryptocurrency market.
In a post on the X platform, Garlinghouse argued that the search for the “perfect law” should not hinder realistic and workable regulatory progress.
According to Garlinghouse, no law throughout history has ever fully met everyone’s expectations. However, the most critical need at the current stage is the creation of a clear regulatory framework that will pave the way for innovation. The Ripple CEO stated that this goal directly aligns with the Crypto Market Structure Act, arguing that a “clarity instead of chaos” approach, rather than the chaos created by regulatory uncertainty, will move the sector to a healthier footing in the long run.
Garlinghouse stated that even if not everyone agrees with this view, clear and understandable rules will provide a stable environment for the sustainable development of the crypto sector and innovative projects.
On the other hand, Garlinghouse’s statement recently sparked controversy in the industry. Cardano founder Charles Hoskinson criticized Garlinghouse’s support for the draft legislation prepared by the US Senate Banking Committee. On January 14th, Garlinghouse praised the Clarity Act draft, stating, “At Ripple and personally, we know firsthand that clarity is better than chaos; the success of this bill is the success of crypto,” and expressed optimism that the problems in the regulatory process could be resolved at the committee stage.
*This is not investment advice.