Possible-to come gov regulations are very welcomed by the blockchain start-up Ripple and its XRP token. This with the idea of a fresh set up for the financial solution provider. Accordingly with its vision to grasp world-wide adoption and presence, the team is getting ready to create working grounds with the officials and regulators.
Cory Johnson – Chief of Marketing Strategist at Ripple, during an interview with Fox Business shared his thoughts on the matter. The strategist highlighted that this type of intervention might work for their best and is very excited for the regulators to step in the crypto-verse.
“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”
Ripple was given the right to sell subsidiary XRP II by BitLincese, which is targeted at firms and the big institutional investors. Q2 saw a sharp drop in Ripple initiated XRP sales compared to the first quarter of the year: sales were down 56%, dropping from $167.7 million worth of XRP sold in the first three months of the year to $73.53 million. More troubling is the decrease in market volume, which also saw a decline throughout 2018 and a steep fall from the end of 2017–albeit when Ripple, and crypto in general, was reaching a fever-pitch in market and institutional interest. As mentioned, there is an increase by institutional interest.
Typically, institutional investors purchasing XRP II are more interested in uses for the coin or long term asset appreciation, as opposed to trying to flip a few percentage gains on the market.
As noted out by Mr. Johnson, with the regulatory work intervening a safer space would be felt around the cryptocurrency ecosystem. But, to much of anything can turn worse.
When it comes to the U.S. and cryptocurrency, Cory added:
“A lot of other countries are moving faster than the U.S. to try to provide really clear lanes of where businesses can act — what’s right and what’s wrong.”