The crypto market has become part of the global economy

CEO Ripple in an interview with Bloomberg accused Washington of a tough policy towards the blockchain industry.

The Securities and Exchange Commission (SEC) is forcing crypto businesses to leave American jurisdiction and seek safe havens. Because of this approach, the United States will lose its status as a technological leader and influence on processes in the global economy.

The businessman criticized the SEC for the lawsuit against Ripple. If the trial ends with the victory of the Commission, the entire industry will be under threat of repression. In the meantime, businesses are migrating from the USA to Singapore, Japan, Australia, the UK and Switzerland, where conditions are being created for the development of the crypto industry.

Garlinghouse recalled the situation in the mid-1990s, when the Internet was being introduced in the United States. Then Washington chose the path of reasonable regulation. The same approach is necessary today, the head of Ripple believes.