With less than a month to go before the US election, one distributed ledger startup's chief executive is making the pitch for a national 'FinTech advisor'.
Chris Larsen, CEO of Ripple, is calling for the next US president to appoint an advisor to help navigate the rapidly changing financial technology sector. In a new blog post, released today, Larsen argues that technology is redrawing the boundaries of finance – and that the US government needs to take action to keep American companies competitive.
His words of caution come weeks before Americans head to the polls on 8th November, an election that will likely see Democrat Hillary Clinton or Republican Donald Trump taking the top public office.
Larsen wrote:
Thus far, only Clinton has weighed in on the subject of blockchain, indicating support for some form of national policy in a campaign statement published in June. To date, Trump's campaign has declined to discuss the tech when reached.
Easing conditions for startups
Larsen argued that such a forward stance on policy would help ease even the geographical challenges facing US-based business today. The distance between Washington DC, New York and Silicon Valley, he said, put those headquartered in major cities at a disadvantage.
He reasoned that the appointment of a FinTech advisor to the White House could help educate an otherwise uninformed president about new technologies.
"It's a lot of the way Washington works," he said. "You get new things in the world and new things fall through the cracks. An advisor can be a bridge until a new institution is created."
Larsen went on to say that a FinTech advisor to the president could help ease concerns in another key area: regulation.
He wrote:
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.
Image credit: a katz / Shutterstock.com
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.