Ripple CEO: Regret not communicating with regulators earlier, working hard to make up for it

Ripple Labs CEO Brad Garlinghouse admitted that his company should have engaged with U.S. regulators earlier, and now, after becoming a victim of law enforcement actions, the company and the cryptocurrency industry are striving to improve compliance goals.

On October 23 at Washington Fintech Week, Garlinghouse said: "In recent years, I've been to Washington much more than in previous years. Looking back, I feel regretful. I think it was a mistake not being prepared earlier; we're working hard to make up for lost time."

He also claimed that compared to other countries or regions, the United States is "lagging behind" in cryptocurrency regulation. He accused U.S. SEC Chairman Gary Gensler of launching a "reign of terror" on the industry and Senator Elizabeth Warren of spreading "misinformation about cryptocurrencies."