Regulatory uncertainty is the problem behind the growth of XRP

Cryptocurrency and regulation have been a hot topic these days. At the beginning of November 2018, Ripple's Ryan Zogone, who is Ripple's director of regulatory relations, talked about the key aspects that are holding back XRP.

It was the fintech week of the 2018 IMF, organized on 5-8 November at the headquarters of the IMF, the Georgetown law, in Washington, DC. Ryan with three other panel members, namely Desiree Dickerson (Operations Manager, Lightning Labs), Josh Swihart (Vice President, Marketing and Business Development, Zcash Company), Peter Van Valkenburgh (Director of Research, Coin Center), discusses "New Development in Crypto Assets "& # 39 ;. The group was moderated by Ross B. Leckow (Deputy Director General, Legal Department and International Monetary Fund).

Ryan starts the panel with "Blockchain and Crypto on which Ripple is focusing more". While he says that the main fintech players are already using Ripple's core payment transaction technology, he also said that regulations are hampering the growth of digital assets, XRP. In response to Peter Van Valkenburgh from Coin Center, who discusses "mining pool" and "privacy companies", Ryan says, "I'm not agreeing with Peter's comment that" the effort of this whole industry is to eliminate the regulations & # 39; need regulators. However, later, Peter clarifies his comment.

Facing "the proof of Bitcoin's work", Ryan recalls the first days of the bitcoin emergency and says "it does not always work". He adds that during these days, developers were interrupted to create the alternative or other cryptographic resources, adding this that says that "XRP is one that does not use mining". He urged that XRP resemble Bitcoin and continued the main challenge is regulation and limited adoption, particularly in the United States. He says that;

"Grouping or clarifying those that are very similar to Bitcoin and ethereum, which have the same characteristics and should be classified in the same way: We must have a level playing field for XRP so that the market can choose which one to use"

With this, he says "The XRP is cheaper in terms of energy savings than Visa" and already scales at 1500 transactions per second. Ryan says that "technical problems related to XRP have already been resolved, but we are hampering regulatory uncertainty, here is the video from Fintech's week in which Ryan talks about XRP and issues.

At the time of printing, XRP took second place with an average market cap of $ 13,489,710,078 earning the largest trading contribution from ZB.com, ZBG, HitBTC, Binance, Upbit and other cryptocurrency bursaries.

Image source – coinmarketcap

Featured image – Youtube