On July 28, the CEO of the Ripple cryptocurrency company, together with its founder, published a joint message to the US Congress in which they stated that cryptocurrency could complement national currencies.
Ripple: support cryptocurrency
Last night, the CEO of the Ripple cryptocurrency payment network, Brad Garlinghouse, together with the company's founder, Chris Larsen, published an open letter addressed to congressmen and the US Senate. The letter was sent in the run-up to the forthcoming hearings on the regulation of the cryptocurrency financial sector.
According to the information, Garlinghouse and Larsen appealed to the Senate with a request "not to consider all cryptocurrencies at the same time". In addition, the letter states that many in the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details industry and the digital currency industry are responsible entities that are responsible not only to US, but also to international law. At the same time, cryptocurrencies today are an effective way to improve the financial system.
Also in an open letter, it was stated that companies such as Ripple in the United States and others abroad are using innovations with regulated financial institutions to "allow the world to move money across borders efficiently, reliably, and inexpensively". According to company representatives, digital currencies have the ability to complement existing currencies, such as the US dollar, rather than replace them.
"We urge you to support regulation that does not disadvantage US companies using these technologies for responsible innovation, and classifies digital currencies in a way that recognizes their fundamental differences, rather than drawing them with a wide brush" – Ripple.
The Ripple CEO urged the US Senate to support cryptocurrency. Recall that Facebook CEO Mark Zuckerberg announced that the Libra cryptocurrency project will be launched anyway.
Editor: Jerg Wos