Head of Public Policy at Ripple Urges the U.S. to Learn from the EU and the United Kingdom
In the absence of specific cryptocurrency regulations in the United States, Susan Friedman, Head of Public Policy at Ripple, urges the country to adopt the regulatory approaches of the European Union and the United Kingdom.
On the 21st of April, 2023, she cautioned that the lack of such regulations forces activity offshore, thereby impeding the surveillance of illicit and criminal activities. She noted that this directly contradicts the objectives of critics.
On April 20, 2023, Friedman praised the European Union’s progressive approach to cryptocurrency regulation, contrasting it with the United States’ emphasis on enforcement over clarity. She was enthusiastic about Ripple’s expansion in the European market.
Friedman questioned the SEC’s resource allocation in a March 29, 2023 tweet, as more than fifty percent of its staff is devoted to examinations and enforcement. She argued that this emphasis on enforcement is detrimental to U.S. markets and capital formation and urged Congress to review the SEC’s budget request.
Friedman praised the United Kingdom’s consultation on establishing a clear and proportional regulatory framework to foster innovation on February 1, 2023. She hoped that the United States would take note of the British approach.
Friedman also shared her insights during a meeting of the Treasury Committee at the Chamber of Commons, the lower chamber of the British Parliament, on November 14, 2022, where she discussed the diversity of the crypto ecosystem.