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Ripple has been on the good books of the lawmakers lately while the same cannot be said about Facebook and Libra. The blockchain firm’s CEO Brad Garlinghouse had previously expressed his interest and excitement over the social media giant’s token. This did not last long. As time went by, the CEO started doubting Facebook ability to launch Libra.
And as the proposed token was still in troubled waters, what it did, however, was initiated the much-needed talks between the cryptocurrency sector and the lawmakers with the latter still trying to decipher the dynamics of the space. Along the same line, Ripple’s Manager of Government Relations, Ron Hammond, while speaking at San Francisco Blockchain Week 2019, said:
“I think whatever anyone’s view is on Libra the fact of the matter is at least in DC it has accelerated conversation for crypto encrypted regulation and blockchain as a whole which is really exciting because that’s really been cool to see that this comes to the forefront of a lot of committees. I mean the concerns are warranted but my major concern is [that] the lack of education leads to bad legislation.”
And as the proposed token was still in troubled waters, what it did, however, was initiated the much-needed talks between the cryptocurrency sector and the lawmakers with the latter still trying to decipher the dynamics of the space. Along the same line, Ripple’s Manager of Government Relations, Ron Hammond, while speaking at San Francisco Blockchain Week 2019, said:
“I think whatever anyone’s view is on Libra the fact of the matter is at least in DC it has accelerated conversation for crypto encrypted regulation and blockchain as a whole which is really exciting because that’s really been cool to see that this comes to the forefront of a lot of committees. I mean the concerns are warranted but my major concern is [that] the lack of education leads to bad legislation.”
https://eng.ambcrypto.com/ripple-exec-slams-stablecoins-are-securities-act-claims-libra-accelerated-crypto-talks/
Is he blaming Libra's attention from the US government that law makers hastily called stable coins as securities? I guess this is one of effects of Libra, good or bad we have to wait and see.
What are your thoughts here? Is he correct on his assumptions?