According to Cointelegraph, Ripple executives have reiterated that global regulators should take a technology-neutral stance when formulating cryptocurrency rules to develop more effective and adaptable regulatory measures. At the recent Ripple Swell 2023 event, Navin Gupta, managing director of Ripple South Asia, Middle East and North Africa (MENA), told Cointelegraph that regulation should be based on industry activities rather than the technology used. He said: "We don't want people to think about regulating technology... We want regulators or anyone to remain technology-neutral. It doesn't matter whether the activity is done on the blockchain or in traditional ways." He added: "If someone is making a payment, then it needs to be regulated as a payment instrument. If something is a security, then it needs to be regulated as a security instrument." For Gupta, the focus should be on the purpose and use of virtual assets, rather than the underlying technology, to develop flexible regulations to ensure that they remain relevant as blockchain technology develops.

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