Cory Johnson, Chief Market Strategist of Ripple recently had an interview with Fox Business, where he spoke about the recent regulations of the cryptocurrency world. Johnson told the reporter that Ripple is happy with regulations which are getting involved in the crypto world these days.
Mr. Johnson said:
“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.”
Previously it was reported that New York’s Department of Financial Services had permitted only ten of cryptocurrency companies to operate in the state. Eight of these companies were said to receive a full BitLicense. Although, superintendent of NYDFS and ex-chief architect of the state’s controversial “BitLicense” framework is currently on Ripple’s board of directors.
As of now, Ripple has offices in several countries worldwide and deals with different lists of regulators in a variety of different countries.
“U.S. is currently starting to lag behind its global peers when it comes to engaging with this burgeoning field and providing a clear regulatory framework for firms seeking to operate in it. A lot of other countries are moving faster than the U.S. to try to provide really clear lanes of where businesses can act what’s right and what’s wrong.”