Ripple CEO Brad Garlinghouse supported the statement of the head of the Crypto Council, Sheila Warren, about the need to regulate the cryptocurrency industry.
Sheila Warren emphasized that financial regulators around the world should work to expose the “terrible behavior” of cryptocurrency companies. Of course, she refers to the bankruptcy process of the FTX exchange. Warren noted that it is necessary to identify such fraudulent schemes at an early stage and generally create such business conditions that fraudulent companies cannot operate and attract customers.
Brad Garlinghouse expressed the opinion that the cryptocurrency industry is still in its infancy. Therefore, various scammers and suspicious individuals feel at ease creating various schemes and enriching themselves at the expense of bona fide investors. The CEO of Ripple hopes that as the industry matures, scams will become rarer.
Garlinghouse recently said that Ripple is interested in the assets of the FTX exchange and may well buy out some of its subsidiaries and assets.
Source: Bits
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