Ripple CEO: Not communicating with regulators early was a mistake

ChainCatcher news, Ripple Labs CEO Brad Garlinghouse admitted that his company should have engaged with U.S. regulators earlier. Now, after becoming the recipient of enforcement actions, the company and the cryptocurrency industry are striving to catch up.

Brad Garlinghouse stated at the Washington Fintech Week event, "I have been to Washington much more in the past few years than in previous years. Looking back, I regret that. I think it was a mistake not to act sooner, and we are working hard to make up for lost time."

Ripple is one of the U.S. cryptocurrency companies recently embroiled in legal disputes with the U.S. Securities and Exchange Commission, with many U.S. cryptocurrency executives claiming that the regulator is hostile and unfair to the industry.

Previous news, Citigroup has terminated banking services for Ripple's CEO.