Ripple's Top Executive Calls for Eased Global Crypto Regulations
Date: 2023-11-18 Author: Dima Zakharov Categories: IN WORLD
Push for Harmonized Crypto Rules
Navin Gupta, the Ripple executive responsible for business development in North Africa, South Asia, and the Middle East, advocates for a more accommodating approach to global cryptocurrency regulations. He emphasizes the necessity of establishing a regulatory framework that fosters a comfortable environment for companies developing services and issuing digital currencies.
Insights from Ripple Swell 2023
At the Ripple Swell 2023 conference, Gupta stressed the imperative need for collaboration between regulators and market participants. His assertion highlights the criticality of harmonizing regulations to ensure the smooth functioning of the digital currency landscape.
Diverse Applications of Digital Currencies
Gupta emphasized the potential use of digital currencies as a means of payment. In such cases, he suggests that governments should regulate them in accordance with financial market legislation. Additionally, he proposed that if a token is considered a security, it should be categorized among instruments suitable for secure capital accumulation.
Blockchain's Versatility and Global Oversight
Highlighting blockchain technology's versatility across industries, Gupta mentioned that G20 countries could establish a unified mechanism to monitor industry developments and the movement of funds in digital currencies. This proposed mechanism aims to facilitate international oversight and regulation.
