In response to the Digital Commodities Exchange Act DCEA, Brad Garlinghouse, expressed that the strongest internet companies built in the US, in part b/c of regulatory clarity. We have that opposite with blockchain + digital assets. Responsible players like Ripple aren’t looking to avoid rules, we just want to operate in a jurisdiction where the rules are clear.
Several users agree that US obviously is not the optimal environment. Some of them felt that Japan and Singapore might be optimal. There were expressions that stated that the US is losing the war of innovation.
It is kind of time to move and to get this show started after all of the hard work per other users. It clearly looks like the US government are frustrating innovators. Also, they are following scare tactics through the SEC news. Also, they are willing to collect TAXES from cryptocurrency profits and are NOT willing to provide clear and concrete regulations.
It is only practical for Ripple XRP to move to a country that will provide with regulatory clarity making it possible for Ripple to enable the benefits of Blockchain to drive onwards. What is happening now is a race even though Ripple is catching up to the old outdated companies, there is better room for the company in a country that can provide with clarity to make huge moves.
However, widespread opinions are exchanged about which countries could be quicker to push regulations for the blockchain and the digital assets.
For those who do not know anything about DCEA (Digital Commodity Exchange Act) it is a legislation that is meant to full in the regulatory which exists between the CFTC and SEC in the US. The act provides for the framework which will regulate the trading avenues that will list the emerging digital commodities like Bitcoin, Ether, their forks, and other similar digital assets, for public trading.
Further, the act also provides a regulated process for digital commodities that are pre-sold to become publicly available for trading without having to sacrifice protection for retail customers.
Sydney Ifergan, the crypto expert tweeted: “The way Ripple (XRP) are looking at the importance of regulation, it is very clear that at some point the government might step in to take control of the world of crypto.”
Ripple (XRP) Might not See Regulation Coming Soon
XRP fans in the US are very sure that regulation will not come in the foreseeable future. They have to state that it is a shame that countries like China are more advanced than the US. However, there are many who are not ready to fall for these discussions. They feel it makes no sense.
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