Ripple CEO – Brad Garlinghouse’s Open Letter to Congress

On July 28, Ripple CEO Brad Garlinghouse, Ripple’s Co-Founder Chris Larsen, and Executive Chairman, published their an open letter to U.S. Congress saying “Please do not paint us with a broad brush”

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According to the letter, Similar to many other platforms in the blockchain and crypto industry, Ripple is a responsible actor, they respect the U.S. and international law. They don’t take for granted the vital role of central banks in issuing currencies and setting monetary policy in concert with the complex dynamics of economies around the world.

Brad believes that for centuries, governments have been well suited for the job because paramount to the acceptance of any currency is trust.

Companies like a Ripple in the United States and others across the globe, take on these innovations in partnership with regulated financial institutions to enable the world to move money across borders in an efficient, reliable, inexpensive way. 

Ripple platform claim that :

Digital currencies have the opportunity to complement existing currencies like the U.S. dollar—not replace them

Brad explains how blockchain and digital currencies will cause greater financial inclusion and economic growth not unlike the internet’s historic impact. As it did with the internet, the U.S. has the chance to lead the way, nurturing this economic opportunity while continuing to protect the privacy and stability.

The platform also urges to support regulation that does not disadvantage the U.S. 

According to Ripple Platform : 

Companies using these technologies to innovate responsibly, and classifies digital currencies in a way that recognizes their fundamental differences—not painting them with a broad brush.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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