Ripple CEO Brad Garlinghouse is optimistic about crypto regulation. Check out the latest reports about the issue below.
Ripple CEO addresses crypto regulation
As the 118th Congress opens on Tuesday, Brad Garlinghouse enumerates the key reasons why he believes 2023 will be a breakthrough year for crypto regulation.
“We’re not working with a blank slate. Prior bills have tried to address everything from stablecoins and CEXs (RFIA and DCEA); clearer definitions of what constitutes a digital asset security (Securities Clarity Act); safe harbors (Clarity for Digital Tokens Act) and more.”
He says that bills on crypto regulation may not get the nod of everyone. On the other hand, these proposals can serve as a starting point for debate in congress.
“The building blocks for regulation have already been introduced, and we have a chance to get this right for millions of Americans who already are – and will continue to be – interested in crypto.”
Garlinghouse also said the fact that the EU, Singapore, Brazil, and Japan now have their own crypto frameworks, and the UK is already ahead of the US.
Ripple in the news
A crypto legal expert says he sees a complete and total victory for Ripple over the U.S. Securities and Exchange Commission (SEC) as the most likely outcome of the XRP lawsuit.
Just to refresh your memory, the SEC sued Ripple in late 2020, alleging that the payments firm sold the crypto asset XRP as an unregistered security.
Attorney Jeremy Hogan said recently that he sees Ripple coming out victorious at summary judgment as he believes XRP was not sold as a security. Check out our previous article in order to learn more details about all this.
Not too long ago, we revealed that Ripple launched a stablecoin project for the Micronesian nation of Palau. The question is if XRP will be involved.