Ripple CEO: Crypto firms deserve same treatment as traditional finance

Ripple CEO Brad Garlinghouse argued that if cryptocurrency companies follow the same laws as traditional financial institutions, they should receive the same treatment and benefits, Cointelegraph reported. Speaking at DC Fintech Week, Garlinghouse acknowledged that crypto firms must comply with regulations from the Office of Foreign Assets Control (OFAC) as well as anti-money laundering and know-your-customer rules. He stressed that these standards should apply equally to both crypto and traditional finance. Garlinghouse contended that, by the same token, crypto companies should have access to the Federal Reserve's master accounts. He described it as highly unreasonable to apply the same standards to crypto firms while treating them unfairly.