In a recent podcast, Ripple CEO Brad Garlinghouse made a statement about the progress of Ripple in 2020 and the state of the cryptocurrency XRP, highlighting that regulations in the United States are not clear and that it is causing the slow Ripple growth.

Ripple CEO Brad Garlinghouse is a guest on Frank Chaparro’s “The Scoop” podcast on November 13.

Garlinghouse shared his thoughts on Ripple and XRP, and said that the point Ripple reached in 2020 made him very happy.

However, according to Garlinghouse, it is necessary to clarify the regulations regarding cryptocurrencies in the United States in order to always have more progress and innovation.

People focus on Bitcoin, not Ripple:

Garlinghouse, who began his remarks this year by predicting that they will not see growth as they expected, said the point recently reached in 2020 is satisfactory for Ripple management.

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Ripple CEO said:

2020 has been a difficult year, and Ripple has exceeded expectations in one way or another.

The CEO continued his remarks by saying:

The volume of XRP transactions has increased strongly.

But the unclear regulation of cryptocurrencies in the United States has prevented the company from reaching its full potential.

In the current environment, there is not enough room for cryptocurrencies other than Bitcoin which is the only cryptocurrency that has access to what it is.

This situation attracts individual and institutional investors such as Square’s attraction to Bitcoin.

I think this uncertainty has allowed people to focus on Bitcoin rather than other blockchain platforms.

Garlinghouse added:

We could have grown up more

The CEO of Ripple went on to provide his justifications, answering Chaparro, the podcast host who asked him a question:

The environment in the US is uncertain and clear in terms of regulations, do you think Ripple would have grown more if it weren’t for this?

Garlinghouse answered this question in the affirmative as follows:

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There are clear regulations regarding cryptocurrencies in countries such as Japan, England, Singapore, Switzerland, and the United Arab Emirates.

However, this is not the case in the United States.

For example, in recent years Bitcoin was considered not safe, later on, the same was considered for Ethereum.

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While in other regions the regulations are clear like Japan, Japan views XRP as a currency, which allows us to move more clearly while working in this country.

Garlinghouse noted that they currently work with more than 2,000 clients, and emphasized that if there was clear legal regulation in the USA, their technology, on-demand liquidity, and XRP would be more approved.

Garlinghouse concluded his speech by saying:

I am very happy with the current situation, but there must always be more.

Every businessman wants more.

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