Ripple Executive Welcomes Govt Regulation and Legal Clarity For XRP Coin


The execs at several cryptocurrency companies noticed some desired attention from regulation committees in the United States. One token under the magnifying glass is Ripple’s XRP, and with the new company report released recently, the company couldn’t be happier. While it’s true that many are nervous when talks of regulations are spoken, the people at Ripple are waiting to see the natural progression about to take place in the cryptocurrency industry.

Ripple doesn’t see the regulations as unwanted shackles, looking to keep crypto down, they see it as the way things are supposed to develop in a somewhat unstable eco-system. The company took a hard hit this last second quarter, the company has been trying to get back on their feet. Ripple is now attempting to determine their standing as a security or a token.

As the saying goes though, no publicity is bad publicity, and that’s exactly how Ripple is taking it. The hard times are being used to strengthen the brand of Ripple to keep it at the top of the list as a quality cryptocurrency.

As regulators start to get involved, it’s a good sign for the industry as it constitutes growth. New regulations are healthy for the industry, businesses and users who need security where most areas are now hazy, with little to no guarantee of trust or safety. Corry Johnson of Ripple was hear to say the following:

“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”

The XRP Token is now one of the first tokens to be regulated with limitations. The regulation has come in the form of the Bitlicense, to create some structure for cryptocurrency trading in New York.

It allows Ripple to sell both of its tokens, the XRP and the XRP II, hopefully restoring some of the companies profits in the remainder of 2018. Even though there has been a hard hit to the company in the second quarter, with sales dropping more than 50%, Ripple is still confident in what will happen for the remainder of the year.

The new move in regulations will help keep the United States in the loop, previously thought to be falling behind in recent years. There’s been a lot of worry by the industry that the US was going to be left behind prior to the news of regulatory commissions taking action on licensing cryptocurrencies deemed worthy of trade in the country.

Johnson also stated:

“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”

The United States is believed by some analysts to be behind the rest of the world 4-5 years in terms of regulations for cryptocurrency.

Is regulation the right move for cryptocurrency? Leave your thoughts in the section below.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide