Ripple CEO Brad Garlinghouse said there needs to be proper regulation in place for the cryptocurrency industry to thrive.

“There is an underlying segment of the crypto world that is so anti-regulation and all about anonymity,” Garlinghouse said today at a panel at Token 2049 in Singapore. “In my judgment, if we want this industry to thrive and achieve what it can fundamentally rewire how financial infrastructure works, we can't pretend like government regulation doesn't matter.”

He added that there are some basic things the crypto community has to agree on. “I still do find categories of the crypto community fighting on some of these basic regulatory frameworks.” 

“AML is going to matter, KYC is going to matter,” Garlinghouse, whose company has been caught up in a legal fight with …