A Ripple executive has re-emphasized the need to adopt a technology-neutral approach for more effective and adaptable guardrails as global regulators grapple with cryptocurrency rules.
At the recent Ripple Swell 2023 event, Navin Gupta, managing director of South Asia, Middle East and North Africa (MENA) at Ripple, told Cointelegraph that the industry should be regulated based on activity rather than the technology used. He said:
“We don’t want people to think about regulating the technology… We want regulators, or anybody for that matter, to be technology-neutral. It doesn’t matter if the [activity] is happening in blockchain or traditionally.”
“[If] somebody is going payments, then it needs to be regulated as a payment instrument. If something is a security, it needs to be regulated as a security instrument,” he added.
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