Advertisement
In a recent interview with U.K.-based Financial News, Sendi Young, managing director for U.K. and Europe at Fintech firm Ripple, shared his thoughts on the regulation of the cryptocurrency space.
Ripple’s press release states that Sendi will oversee the strategy and support the expansion of Ripple’s global Financial Technology network, RippleNet to provide financial solutions that allow customers to easily run and scale their businesses. In a recent interview with Financial News, Young said:
It is really important to have a clear regulatory framework on this so that all players know the rules of the industry and can innovate accordingly. Uncertainty is the biggest threat to innovation. We’re not against regulation. Regulation will help cryptocurrencies open up many benefits.
The Market in crypto Assets Bill is a new law that the European Union has just passed and will come into force in the next few years, which is very important. It was a critical moment and it was the first harmonised legal framework for such a large region that we had ever seen. We applaud that effort. That will really help innovate and help Europe take a step forward to become a global crypto hub.
Here’s what she had to say about the state of the cryptocurrency market and how Ripple is performing:
“At Ripple, we’re really focused on long-term utility, not volatility. Since the early days, we have really focused on solving real-world problems with cryptocurrency and blockchain technology, especially around cross-border payments, solving things like transparency, cost, speed, reliability. And we’ve built a very strong link with the border network on that basis. So I think we’re still really optimistic about the future of crypto support for financial services…
The last 18 months have been the strongest period for us. We’ve doubled our payment network, we have hundreds of customers at a rate of more than $15 billion in payment flows. We continue to see strong demand because we’re solving real-world problems.”
Thanks to @CNBCi and @cnbcKaren for the opportunity to share my views on #crypto markets and @Ripple’s momentum this morning live from Money20/20 in Amsterdamhttps://t.co/hBmMGG4kWf
— Sendi Young (@sendiyoung) June 7, 2022
