Ripple's Senior VP on the U.S. Senate Cryptocurrency Hearing

The transcript discusses the need for regulatory frameworks in the US to support innovation and global leadership, similar to the Internet era. It highlights concerns about Facebook's Libra and its impact on the digital currency industry, emphasizing the importance of collaboration and compliance. The desired regulatory framework should recognize digital currencies' differences and support responsible actors while addressing skepticism and bad actors. The role and ambitions of Facebook in creating a global currency are also evaluated.

What is the main goal of US regulation in the context of cryptocurrency, as discussed in the first section?

• To replace traditional currencies

• To ensure responsible use and foster innovation

• To eliminate all forms of digital currencies

• To restrict the use of digital currencies

How does Ripple's approach to digital currency differ from Facebook's Libra, according to the second section?

• Ripple aims to create a global currency

• Ripple partners with financial institutions

• Ripple does not comply with existing laws

• Ripple seeks to replace financial institutions

What type of regulation does the speaker advocate for in the second section?

• Regulation that treats digital currencies as identical to traditional currencies

• No regulation at all

• Principles-based regulation

• Strict and restrictive regulation

What is the speaker's view on the current state of the cryptocurrency industry, as mentioned in the third section?

• It is dominated by bad actors

• It is fully regulated and safe

• It is still like the wild west

• It is beyond the days of Silk Road

What is the speaker's stance on Facebook's role in the cryptocurrency industry?

• Facebook has no impact on the industry

• Facebook is a responsible actor

• Facebook's role is yet to be determined

• Facebook should lead the industry