Ripple CEO: China is ahead of the US in terms of crypto regulation

By Kluma | InterestingCrypto | 19 Jul 2020

Ripple's General Director Brad Gaplinghouse believes that China is ahead of the United States in regulating the growing cryptocurrency.

During the summit of the Chamber of Digital Commerce, on July 17, Gaplinghouse raised the message along the way to China as a cryptocurrency, and was first presented with it.

"I think that they understand that some of these technologies will serve as the basis for the future functioning of financial systems, and want to be the first to learn them."

As an example, in the use of his expression, Gaplinghaus made the classification of bitcoin and ether. In 2018 and 2019, US regulators rated bitcoin and ethereum not as valuable paper, but as goods. CEO of Ripple is confident that such solutions give companies and private individuals more confidence when working with assets.

“Today, thanks to the control over the mining of bitcoin and air in China, these areas are completely under control of the Asian country,” said Gaplinghouse. - "Twenty-five years ago, the USA became a leader in the development of the Internet, which partly happened due to the clarity of regulation."

The head of Ripple noted that the same possibility is preserved in relation to the blockchain, although since the United States does not use it, taking the attention of others.

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