Ripple co-founders wrote an open letter on cryptocurrency regulation to the US Congress

Ripple CEO Brad Garlinghaus and co-founder Chris Larsen jointly wrote an open letter to the US Congress on regulatory uncertainty regarding cryptocurrency.

In his letter published
on Sunday, Garlinghaus and Larsen argue that without clarity regarding regulation, there is a risk for innovation, tax revenues and jobs that blockchain technology can offer.

“We urge you to support regulation that does not disadvantage US companies using these technologies for responsible innovation,” they write.

The authors of the letter are also waiting for the release of the classification of digital currencies, which recognizes their fundamental differences, rather than “cutting them together”. Garlinghouse and Larsen believe that cryptocurrencies have the ability to supplement fiat currencies, such as the US dollar, and not to replace them. The authors of the letter believe that the United States has a chance to become a leader in the industry.

Recently, the US Congress held two hearings.
about the libra cryptocurrency which influenced
on the course of bitcoin. This week there will be a hearing.
in the US Senate on the regulation of cryptocurrency, the live broadcast of which can be viewed here.

Read This Now: The work of the decentralized exchange 0x suspended due to vulnerability in the smart contract