Ripple CEO Bashes Wall Street Bank Opposition of Fed Master Accounts for Crypto
Brad Garlinghouse, the CEO of Ripple Labs, called out the Wall Street banking lobbyists who have sought to resist the movement of his company and other crypto firms into the banking sector and into the Federal Reserve’s so-called master accounts.
The crypto sector “should be held to the same standard” on money-laundering protections and other illicit-finance safeguards as traditional financial businesses, Garlinghouse said at DC Fintech Week on Wednesday, agreeing with traditional bankers on that point. But the industry — as a result — “should have the same access to infrastructure, like a Fed master account.”
“You can’t say one and then combat the other,” Garlinghouse said of the demands that crypto be held to similar regulatory…
