Tech News Summary:
- Ripple executive emphasizes the need for technology-neutral approach to regulating cryptocurrencies for effective and adaptable guardrails for the industry.
- Gupta highlights the importance of educating regulators about non-speculative cryptocurrency use cases such as remittances and crypto payments to navigate diverse legal landscapes.
- Ripple’s partnership with Onafriq in November 2023 aims to open new payment corridors between 27 African countries and Australia, United Kingdom and Gulf Cooperation Council, promoting utility-based projects in the cryptocurrency industry.
In a recent interview with a leading financial news outlet, Ripple executive Asheesh Birla has urged regulators to adopt tech-neutral policies in order to foster innovation within the crypto industry.
Birla, who serves as the Senior Vice President of Product at Ripple, emphasized the importance of creating a regulatory environment that supports all forms of technology, rather than favoring specific technologies or companies.
He stated, “Regulators should prioritize tech-neutral policies that enable the entire industry to innovate and grow. This will benefit not only businesses within the sector, but also consumers who stand to gain from the potential advancements in the crypto space.”
Birla’s comments come at a time when the regulatory landscape for cryptocurrencies and blockchain technology is continually evolving. Many countries are in the process of formulating policies to govern the use of digital assets, and the outcome of these efforts will have a significant impact on the future development of the industry.
In light of this, Birla’s call for tech-neutral regulations reflects the growing push within the crypto community for a level playing field that allows all participants to compete and contribute to the advancement of the space.
As the industry continues to mature and gain mainstream acceptance, the need for clear and fair regulations becomes increasingly pressing. Birla’s advocacy for tech-neutral policies serves as a timely reminder of the importance of fostering an environment that supports innovation and progress within the crypto industry.