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Ripple CEO Brad Garlinghouse recently tweeted that he was cautiously “optimistic” for 2023.
Ripple’s CEO said in a threaded discussion on Twitter that today is the opening day of the 118th Congress and there is a lot of work to be done. But support for regulation could be found across the political spectrum and in both houses of Congress. While doing so, he named a member of parliament who expressed his support for blockchain technology and acknowledged the need for greater transparency.
Garlinghouse says there’s no such thing as a perfect bill and it’s very difficult to please everyone. That said, don’t let that get you in the way of creating your ideal invoice. According to Ripple’s CEO, these recommendations will spark debate in Congress.
Garlinghouse added that the US lags behind Singapore, the EU, Brazil and Japan when it comes to crypto-related laws and regulations.
Ripple v. SEC Litigation
While awaiting final court ruling in its fight with the Securities and Exchange Commission, Ripple CEO Brad Garlinghouse has called for regulatory clarity in the United States. In 2022, both sides will file closing arguments. Sentencing he is expected to take place in the first half of 2023. The settlement of the lawsuit is expected to bring certainty to the cryptocurrency industry.
In particular, lawyers who have been following the Ripple v. SEC case closely have pointed out that the matter is in the hands of Judge Torres and will most likely end in a judgment rather than a settlement.
A Ripple backer named Ben Armstrong, popularly known as BitBoy Crypto, predicts the lawsuit will be settled in 2023.
unclear gary
Legislation to regulate the digital asset market is urgently needed in Washington as a result of the sudden collapse of the cryptocurrency empire FTX. However, Securities and Exchange Commission Chairman Gary Gensler argued that existing SEC regulations and Supreme Court rulings are sufficient, and that cryptocurrency issuers and exchanges need only comply with the new law. I object to your request.
final thoughts
Clarifying the regularity of crypto can help protect consumers and investors from fraud and other illegal activities. By establishing clear rules and guidelines for the cryptocurrency industry, regulators can ensure that market participants are operating in a transparent and trustworthy manner. Regulation helps drive adoption and mainstream use of cryptocurrencies.
Without clear regulation, it can be difficult for companies and organizations to know how to properly handle and use cryptocurrencies. and may limit recruitment.
Regulation helps create stability in the cryptocurrency market. Having clear rules and guidelines in place can help reduce uncertainty and reduce the risk of sudden changes or shifts in the market. This makes it easier for businesses and individuals to plan for the future and make informed decisions about using cryptocurrencies.
Rickie Sebastian Sanchez is an article writer specializing in cryptocurrency news. Since late 2017, he has been actively investing in cryptocurrencies. He is passionate about all things cryptocurrency related and hopes that readers of his articles will have a good understanding of blockchain technology in the years to come.
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