Chris Larsen, the co-founder of Ripple, believes that the regulators in the United States are too ignorant when it comes to blockchain and crypto regulation. He also tries to ignite the conversation by comparing the US regulators to China.
Larsen, who’s also the executive chairman of Ripple, believes that the US is moving too slow in regulating and also testing blockchain technology. He claimed that the US regulators should stop being too “relaxed” about crypto and should take blockchain seriously if it wants to compete with China’s efforts.
He doesn’t stop there. He also thinks that the US regulators only gave clarity to Bitcoin and Ethereum, which he claimed are controlled by mining pools in China. Larsen is quite confident that blockchain technology will be the centre of the next-gen financial ecosystem, and thus, the US must act faster on it.
Larsen doesn’t think the US would be able to compete with China technologically if it does not want to give a tight competition in the blockchain space.
For many years, the status of Ripple’s XRP as a “security” or not has been widely debated but there’s no definitive action that the US regulators have taken about it.
Source: CoinTelegraph
