During a March 7th interview on CNBC’S Fast Money, Brad Garlinghouse, the CEO of the cryptocurrency Ripple urged for everyone in the cryptocurrency industry to work with regulators. He further stated that the blockchain revolution would not happen outside the system and that it can only happen from the inside. His statement is in direct contrast to the decentralization and anonymity factors that cryptocurrency was built on.
During the interview Brad said, “All of our transactions are happening through a registered financial institution. Every financial transaction has a regulated Inpoint and so when regulators see that and they understand, they say ‘Oh, you’re not circumventing regulations, you’re not trying to enable anonymous transactions. I think it’s incredibly important for the world to understand these concerns around digital assets. Not all assets are created the same and we should understand what the differences are.
Brad Garlinghouse also touched upon the fact that within the Bitcoin community there are many that are really again not only the banks but also the government. This was reflected on Wednesday when Bitcoin fell under the $10,000 level after the Securities and Exchange Commission stated that it demanded that all exchanges must register with their agency.
According to CoinMarketCap, as of March 7th Ripple was trading 88 cents. Given rising popularity, it strikes many as odd that Ripple, a currency that is currently available on over 60 exchanges around the world is still no available of Coinbase, the most popular exchange in the United States.
Having Asiff Hirji, the President and Chief Operating Officer of Coinbase also present on the March 7th episode Fast Money sparked speculation within the cryptocurrency community that Coinbase would soon add Ripple to it’s list of cryptocurrencies that can be exchanged into fiat currency.
When asked about the rumors, Garlinghouse stated, “Coinbase will have to decide what they want to do and make the announcements that are appropriate for them,” Garlinghouse said, adding that he would not “comment on the status of those sort of things.”