Garlinghouse puts pressure on US regulators to accept crypto before China takes over the competition

• Brad Garlinghouse has once more put pressure on the regulators of the United States to step up and accept Cryptocurrency. 
• This came as the nation seems to be losing the crypto flight to China when it comes to innovation.

The chief executive officer at the San Francisco-based blockchain initiative Ripple, Brad Garlinghouse has once more put pressure on the regulators of the United States to step up and accept Cryptocurrency. This came as the nation seems to be losing the crypto flight to China when it comes to innovation. 

China has continued with the development of eight central-bank digital currency to the extent of even playing out real world pilot tests with its central bank. Reports came out earlier in the year saying that these trials will involve partners like Subway, McDonald’s and Starbucks to be carried out in the major cities of China’s mainland.

But looking at the United States of America, no real guidelines in regards to crypto regulations have been made clear by lawmakers in the nation. The CEO of ripple highlighted that as the US gets further behind China, the Asian nation will get all the glory in the end if it carries on.

Tensions of trading continue to rise between the United States and China especially during these uncertain times of the COVID-19 pandemic.

Speaking on Twitter earlier this week on the 26th of May, the CEO of Ripple shared an article expressing the need for the United States to jump on the crypto bandwagon and get ahead of the competition in China. You can see the tweet below:

U.S. regulators: now is the time to step up and lean into digital currencies. Remaining complacent is actually setting us back, while China’s grip on both crypto and fiat payments becomes stronger. https://t.co/NuGmFZmf7x (1/2)

— Brad Garlinghouse (@bgarlinghouse) May 26, 2020

 For more news on this and other crypto updates, keep it with CryptoDaily!