Amid the absence of clear cryptocurrency regulations in the U.S., Ripple’s Head of Public Policy, Susan Friedman, urges the nation to draw inspiration from the EU and UK’s regulatory approaches.

On April 21, 2023, she warned that the absence of such regulations drives activity offshore, ultimately hindering the monitoring of illicit and criminal activities. This, she noted, directly contradicts the goals of critics.

The US failure to adopt clear crypto regulations means driving activity offshore, which restricts our ability to monitor for illicit and criminal activity – the exact opposite result of what critics are calling for. https://t.co/Fa8Wq5GUyk — Susan Friedman (@ss_friedman) April 21, 2023

Friedman praised the European Union’s progressive approach to cryptocurrency regulation on April 20, 2023, highlighting the contrast with the U.S.’s emphasis on enforcement over clarity. She expressed excitement for Ripple’s growth in the European market.

While the US continues to focus on enforcement instead of clarity, the EU has taken a big leap forward with a sensible, progressive approach to #crypto regulation. We look forward to building and growing in the European marketplace! 🇪🇺 https://t.co/0NW8vchHxA — Susan Friedman (@ss_friedman) April 20, 2023

In a tweet dated March 29, 2023, Friedman questioned the SEC’s resource allocation, as more than 50% of its staff is devoted to examinations and enforcement. She argued that this focus on enforcement is detrimental to markets and capital formation in the U.S., urging Congress to scrutinize the SEC’s budget request.

The SEC’s focus on enforcement over clarity is hurting markets, not helping them, and crippling capital formation in the US. Here’s hoping Congress takes a critical look at this budget request rather than support the SEC’s ever-ballooning bureaucracy. — Susan Friedman (@ss_friedman) March 29, 2023

On February 1, 2023, Friedman applauded the United Kingdom’s consultation on establishing a clear and proportionate regulatory framework to foster innovation. She expressed hope that the U.S. would take note of the UK’s approach.

The UK government’s aims with its consultation – namely “establish[ing] a proportionate, clear regulatory framework which enables firms to innovate at pace” – should be applauded, as should its engagement with industry. We hope the US takes note… https://t.co/yYQDvsml7g — Susan Friedman (@ss_friedman) February 1, 2023

Friedman also shared her insights during a Treasury Committee meeting at the House of Commons, the lower house of the Parliament of the United Kingdom, on November 14, 2022, where she discussed the diversity within the crypto ecosystem.

During her testimony at the House of Commons, Susan Friedman, Ripple’s Head of Public Policy, made several noteworthy comments: