Why Does Ripple Want More Government Regulation?

investopedia.com:

Ever since their inception, cryptocurrencies have railed against government interference and regulation. But Ripple wants governments to step in. 

Ryan Zagone, director of regulatory relations at Ripple Labs, has urged the UK government to create regulation that strikes a balance between “capturing risk and enabling innovation”. In  the interview with The Telegraph, Zagone compared the current state of cryptocurrency markets to the internet’s early stages. “We’re at that time now where we need more clarity and rules and we need more certainty. It’s a good time to start revisiting that ‘wait and see’ approach taken by regulators,” he said. According to him, regulation would create “guardrails” to attract new entrants, such as institutional investors. 

To be sure, Ripple has always hewn itself close to the regulatory handbook. (See also: Ripple CEO Favors Government Regulation For Cryptocurrencies). Over the years, the San Francisco-based company has lobbied authorities in the US and UK on the benefits of regulating new technologies relating to cryptocurrencies. In 2016, Zagone wrote to members of the House Energy and Commerce Committee that a “workable regulatory framework (for financial infrastructure) is needed to keep the United States competitive.”

Zagone’s statements were addressed to the UK government’s task force, which was formed earlier this year to manage “risks around crypto-assets.” (See also: UK Government Launches Cryptocurrency Investigation). They are the first such positive affirmations regarding regulation from a prominent cryptocurrency. This far, crypto-enthusiasts have been at loggerheads with efforts by governments worldwide to assert legal authority over transfer and daily transactions of coins. In