Friday, January 22, 2021

Ripple is Compliant Enough to not Get Shut Down Right Out of the Box – GlobaliD CEO

Ripple, the US-based cross-border payment company and the major overseer of the distribution of the digital token XRP that is stern with striking a balance between its daily services and regulatory compliance has received a deep acknowledgment from its former chief risk officer and CEO of GlobaliD, Greg Kidd.

In the interview recently shared on Twitter by a user identified as Steven Bull From the Diep, Greg acknowledged Ripple’s effort to remain “compliant enough to not get shut down right of the box” in the United States’ business environment.

Conversation with Ripple’s Former Chief Risk Officer

In the video interview, Greg Kidd, the former chief risk officer at Ripple and early investor in Twitter and Paypal spoke expressly about the struggle of cryptocurrency to gain prominence and the trust of the majority, especially with the regulatory bodies in the United States.

Greg said digital currency is surrounded by mixed opinions and suggestions. Many opinions wish it gets completely banned while some think it’s birthed by great technology.

He said in this regard, some are still undecided that “cryptocurrency made it all out of the crib in the US.” He then furthered that both Ripple and Coinbase are subjected to the same regulatory pressure just like the cryptocurrency.

Greg then opined that Ripple and Coinbase, which are US-based showed they could be compliant enough to not get shut down right out of the box.

He said, “And by the time they might want to say, “No,” you’ve got something so interesting that they say, “Maybe”, and let’s not kill it too early. The same things happened with cryptocurrency. There are some people that just want to ban it outright. Some people think it’s great. But there are enough people undecided that cryptocurrency made it all out of the crib in the US. Not all crypto, but a company like Coinbase, or Ripple – the first in which I invested and the second where I was the chief risk officer – showed that they could be compliant enough to not get shut down right out of the box. And so, it’s finding that balance between being disruptive, but not too disruptive.”

CEO at CipherTrace Says Almost Every Bank Runs Towards Ripple’s XRP in Japan

In another development, the CEO at CipherTrace, Dave Jevans made a remark about Ripple and its digital currency while speaking at a conference in Tokyo, Japan.

While presenting at the conference in Tokyo, Dave Jevans said, “Out of over 1600 cryptocurrencies today that you are watching, all of us have probably heard about Bitcoin, some of Ethereum…but almost every bank is running towards XRP that you may know as Ripple.”

After the statement went viral within the XRP community and across the cryptocurrency sphere, Dave later reacted to simplify what he actually meant in the video.

He said, “This is a remark I made at a Japanese conference in Tokyo and refers to Japanese banks. “Working with” means experimenting, evaluating, testing or deploying. I did not say “adopt” (view the video). My comments reflect the Ripple offerings, not just XRP.”

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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