Monica Long, President of Ripple, spoke with CNBC’s Arjun Kharpal at Money 20/20 about the infrastructure needed for crypto implementation. Their discussion highlighted shifts in U.S. legislation and traditional finance’s adoption of digital assets.
Long cited the Bitcoin ETF approval in the U.S. and BlackRock’s involvement as significant milestones for crypto adoption. Despite these advancements, she stressed the need for clearer regulations and pointed to the European Union’s MiCA regulation as a model.
Long argued that basic financial services could benefit from blockchain, comparing its potential impact to the internet’s effect on communication. She also noted the launch of a euro stablecoin by Société Générale and Ripple’s regulated US dollar stablecoin as key developments.
Addressing fraud in the industry, Long differentiated between technological advancements and fraudulent behavior, emphasizing the importance of separating legitimate applications from scandals like FTX. The strategic importance lies in the long-term potential for blockchain to revolutionize financial systems globally.
