Crypto regulation: Ripple (XRP) boss optimism

“I am cautiously optimistic” – These are words Brad Garlinghouse and are related to the probability of seeing – finally creation of a legal framework related to Cryptocurrencies in the US in 2023. CEO of the company Fluctuation starts the year with moderate optimism, which he shared in a long message on social networks. He surveys the landscape on the occasion of the opening of the 118ᵉ Congress in Washington regulator determines the shares of regulation adapted to its country and its sector of activity. The words of an old cryptocurrency between pragmatism and hope.

Ripple CEO Highlights Encouraging Signs of Possible Regulatory Evolution…

CEO of the company Fluctuation he knows what he’s talking about rules about cryptocurrencies. His company has been opposing the company since 2020 Securities and Exchange Commission (DRY) which is the regulator of American finance. The nature of the subject XRP from a legal point of view. Is it a financial asset like the others? The regulator says yes and society says no. The procedure has been going on for several months now and the entire ecosystem depends on this decision, which can be decisive beyond a single company.

Well versed in problems, Brad Garlinghouse He uses the opening to pressure Congress parliamentarians. In addition, he is pleased that the demand for appropriate regulation is supported cross-party by elected officials. Democrats, also Republicans. Likewise, he is behind both deputies and senators, will be important for a hypothetical vote in favor of cryptocurrencies. Then he reminds his audience of that part of the work regulator has already started. Indeed, the debate around stablecoins or centralized exchanges has given rise to interesting bills.

Brad Garlinghouse says he’s cautiously optimistic ahead of Congress opening – Source: Twitter

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…while warning against hesitations that will ultimately be harmful.

He shows as an example Securities Transparency Actthe Responsible Financial Innovation Act and Transparency Act for Digital Tokens. All of these texts Create a goal in legislative preparation a frame adequate legislative framework for the development of the sector. Ripple’s CEO also encourages parliamentarians Pushing forward to meet the challenges at hand, even if it means making mistakes:

“No law is perfect, and there will probably never be one that satisfies everyone. But perfection should not be the enemy of progress. These proposals provide more than a starting point for the debate of this new Congress. Because the stakes couldn’t be higher. »

Because according to this informed observer, there is urgent Act. First, one part of the world moves faster than one’s own country, which can create an environment competitive Bad for American businesses. But above all, it continues the status quo it benefits countries with higher regulatory standards weak. This may be the result Other disasters like FTX. Finally, the fiber ends up vibrating patriotVery sensitive among our friends across the Atlantic:

“118e Congress has a historic opportunity before it to ensure that the United States remains a leader in innovation for decades to come. We hope he will be able to understand this. »

Brad Garlinghouse It exposes all the problems on Twitter in a few thousand characters regulator next year. Both for his company and for the entire cryptocurrency industry. Because around United States of America, things are moving forward. insideEuropean Unionfor example, we are already talking of MiCA 2 regulation. While in our hexagon, PSAN approval can become the norm.

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