Ripple top manager: “Cryptocurrency regulation in the USA and the Mena countries are like day and night” - Bits Media

Ripple Managing Director in the Middle East and North Africa (MENA) considers, that the regulation of the cryptocurrency industry in this region is much more progressive, than in the USA.

Navin Gupta (Navin Gupta) In an interview he told, that Ripple intends to expand its Presence in the UAE. The company opened a new regional office in the International Financial Center Dubai (DIFC), as planned to do in 2020 year.

The interviewer asked the top manager to compare the regulatory environment relative to cryptocurrencies in Mena and the USA. Gupta answered, that the legal framework is radically different. The regulatory bodies of the UAE are more open and friendly, and it is easier for crypto companies to go out with them to a constructive dialogue. According to Gupta, Thanks to the friendly legislation, companies may not be afraid to contact the Emirates authorities for clarifications, especially for any changes in the laws.

“Cryptocurrency regulation in Mena and the USA is like day and night. If you have the idea of a cryptocurrency startup, In the UAE, you can easily agree with the regulatory body on further actions, and then move forward rapidly. This gives a good start to growth of companies in the Web3 space ", - assures Gupta.

This week, General Director of Coinbase Crypto -Railway Brian Armstrong (Brian Armstrong) expressed a similar opinion, Having called the US regulators short -sighted against cryptocurrencies. Recently, SEC was criticized by her commissar Esther Pierce (Hester Peirce), declared, that the United States needs to take an example from European lawmakers.