In Ripple News today, he latest person to show concern about the potential effects of the yet-to-be-launched crypto owned by Facebook — Libra — is Brad Garlinghouse; Chief Executive Officer of crypto giant, Ripple (XRP). His concern is based on the strict regulations that are yet to be implemented as a result of the emergence of Facebook’s Libra coin. “You just want to make sure that you don’t get caught in the crossfire. It is important to me that when regulators start asking questions that they don’t lump us into one big bucket”, said Garlinghouse in an interview on July 25. According to Garlinghouse, the cryptocurrency launch of Libra by Facebook has helped to increase the number of contracts for XRP. He said the launch has propelled a lot of investors and financial institutions to sign contracts with Ripple, in a bid to start using XRP for cross-border payments. In XRP News today, the Ripple CEO further explained why Bitcoin and XRP are not competing in the crypto market, by simply stating the major difference between both coins. He said Bitcoin is like a digital gold while XRP is a currency that serves as a bridge between efficient fiat to fiat transactions.
Cryptocurrency News Update — World’s Government Show Real Concern Over Facebook’s Libra – Cryptocurrency Regulations
When Libra is finally launched, according to theoretical speculations, it may be used more often than Government currencies. This has been a major concern for the Government of different countries. This is a cryptocurrency news update. The launching of Libra has caused a major debate; not just in politics, but in the cryptocurrency community as well. According to the COO at Colorado-based crypto loans firm Salt, Jenny Shaver, the Cryptocurrency world should show more consistency across the industry, and that it must represent its interests proactively. He stressed it was high time that the crypto industries set rules to abide by, saying it would benefit the industry in the long run. He also emphasized on the need to educate all crypto stakeholders by building strategic and communication programs. This, he stressed, may help curb unnecessary stigmas.
Cryptocurrency Regulations – Nigerian Speaker Emphasizes on the Need to Regulate Crypto – Cryptocurrency News Update
In cryptocurrency regulation, a Speaker of the House of Representatives in Nigeria, identified as Femi Gbajabiamila, stated that it is very important that cryptocurrencies are regulated. He was quoted saying, “The NDIC and other safety-net participants in the country must not be left behind in the adoption of an appropriate regulatory framework to deal with the prevalence of cryptocurrencies in the global financial space.” The speaker also explained the difference between the Nigerian Deposit Insurance Commission (NDIC) and the Central Bank of Nigeria (CBN). He said the House of Representatives are dedicated to helping NDIC grow its status without trespassing on the responsibilities of the Central Bank.
XRP (XRP) Price Today – XRP / USD
In other cryptocurrency news update, Huawei CEO, Ren Zhengfei believes they do not have to wait for others to issue cryptocurrency like Libra as they can easily create theirs if they need to. “China can also issue such currency by itself. Why wait for others to issue it? The power of a country is always stronger than an Internet company”, he said.