The eighth edition of Ripple’s Swell Conference began in Miami, Florida, today. The event spearheads the gathering of prominent figures and the brightest minds in payments, financial services, blockchain, digital assets, regulation, and economic policy.
Ripple wants clear crypto regulations at any cost
In a recent X post, Ripple CEO Brad Garlinghouse highlighted the revolutionary potential of RLUSD in the stablecoin sector. Ripple has partnered with exchanges, market makers, and advisory boards to roll out a market bang.
However, there is a bit of a problem. Ripple Labs has been on a lawfare regulatory war with the United States SEC for four years. The case has not yet been settled, leaving investors worried about how RLUSD will thrive.
To that end, Ripple is ready for regulatory clarity at all costs. Ripple’s chief legal officer, Stuart Alderoty, sat with Adrienne Harris, the chief of the New York Department of Financial Services (NYDFS), to tackle crypto regulation.
Harris says the NYDFS has formed a dedicated team of around 60 professionals focusing exclusively on digital assets. She says, “We want innovation to happen, but we want it to be careful and responsible.”
She adds, “For people to run the water through the pipes and really make sure they’re thinking through unintended consequences or how the system will work and how it might break. And I think the TradFi folks really bring a little bit more of that sensitivity to the space which is good.”
Garlinghouse sees RLUSD as a “gold standard” for enterprise-grade stablecoins. The Ripple CEO believes that the stablecoin launch could significantly impact the financial landscape, but that can only happen under clear crypto regulations.
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