May 11, 2021. (CBSN). Eric Lipton, Pulitzer Prize-winning investigative journalist for the New York Times, tells CBSN that U.S. regulatory uncertainty is causing major problems for the crypto industry, citing the lawsuit by the Securities and Exchange Commission against Ripple Labs, and its impact on XRP, as an example. The Biden Administration “has no choice but to confront” this problem, he says, adding: “We are in a revolutionary period right now,” he said. “The starting gun has gone off and we’re entering this period of massive transition” in the nature of money in general. It is not only from private sector cryptocurrencies, he says, but central banks are also developing sovereign digital currencies.