• Ripple CEO Brad Garlinghouse believes there is a lot of positive news in terms of crypto adoption globally, despite the SEC clampdown on Kraken’s crypto staking services.
• He suggests that people should look at other jurisdictions which are more friendly towards the industry, such as Dubai and Australia.
• Garlinghouse also mentions that countries such as Japan, China, and India have already adopted crypto regulation.

Ripple CEO Weighs in on Global Crypto Adoption

The exec from the blockchain payment company fighting the US SEC in court over XRP’s status believes there is a lot of positive news regarding crypto adoption around the world after recent clampdowns by the Securities and Exchange Commission (SEC). Brad Garlinghouse advised people to step back for a moment and consider other jurisdictions which are significantly more friendly towards the industry.

Dubai Offers Favorable Regulations

Dubai has introduced several rulebooks allowing cryptocurrency companies to set up offices while regulated by its local watchdog. In addition, reports suggest that Australia is looking to update its existing regulatory frameworks to include licensing and custody of digital assets.

Japan, China and India Already Adopted Crypto Regulation

Garlinghouse also mentioned that countries such as Japan, China, and India have already adopted crypto regulation with favorable results. He stated that it “has been an incredible example of what can be done when governments work together with private sector stakeholders” when it comes to encouraging innovation within their respective markets.

United States Regulations Remain Unclear

Despite all these examples from different parts of the world, United States regulations remain unclear due to executive orders issued by President Biden suggesting upcoming harsh regulations on cryptocurrencies. This was further reinforced by speculations followed through action taken against Kraken’s staking services recently.

Conclusion

Despite some uncertainty surrounding U.S authorities stance towards cryptocurrencies, Ripple CEO Brad Garlinghouse remains optimistic about global cryptocurrency adoption based on developments in different parts of the world such as Dubai, Japan China and India who have all implemented favorable regulations for digital assets