Ripple Executives Deliver Letter To US Congress, Sharing Their Love Of Central Banks and Government...

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It's a blend of some very valid points, reasonable requests, and cringe-worthy lines of hardcore sucking up. Brad Garlinghouse, CEO of Ripple and Chris Larsen, Executive Chairman, sent a letter to the US Congress with the hope lawmakers will take their words into account as cryptocurrency continues to be a hot topic on Capitol Hill.

Featuring gems like "For centuries, governments have been well suited for the job because paramount to the acceptance of any currency is trust." the Ripple leaders perfectly captured the thoughts of us all - when you hear the words 'government' and 'money'- you too likely think 'trust...right?

Also worthy of admiration - the role central banks play, letting them know that 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."

Thankfully it's not all like this, as they do a good job pointing out that cryptocurrency comes with some advantages as well; "Without a doubt, blockchain and digital currencies will engender 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 privacy and stability."

Along with a point we've emphasized countless times in our reporting as we watched the next generation of tech innovations leave the US, out of fear of potential future regulation, and confusion over current guidelines - "We urge you to support regulation that does not disadvantage U.S. companies using these technologies to innovate responsibly" they added.

You can read their full letter here.

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Author: Justin Derbek
New York News Desk


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