Ripple CEO: "Virtual asset companies should receive the same benefits as traditional financial firms"

Brad Garlinghouse, Ripple's chief executive officer (CEO), argued that virtual asset (cryptocurrency) companies should receive the same benefits as existing financial institutions if they comply with the same laws and regulations.

On the 16th (local time), according to Cointelegraph, Garlinghouse said at the fintech conference 'DC Fintech Week(DC Fintech Week)' held in Washington, D.C., "I agree that the virtual asset industry should be held to the same standards as the traditional financial sector regarding anti-money laundering (AML), know-your-customer (KYC), and Office of Foreign Assets Control (OFAC) sanctions compliance," adding, "however, if that is the case, financial infrastructure benefits such as access to the Fed master account should also be provided equally."

Garlinghouse also predicted that "even if Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), or President Donald Trump who appointed him leaves his post, it is unlikely that the SEC will reverse its current policy direction."