“I am very optimistic” – These are his words Brad Garlinghouse and are about the opportunity to see – At last – the arrival of a legal framework in relation to cryptocurrencies in the United States IN 2023. CEO of Ripple starts the year with a measured optimism that he shares in a long message on social networks. On the occasion of the opening of the 118th Congress in Washington, he takes stock of the landscape regulator in his country and determines the shares of a regulation adapted to his sector of activity. Between pragmatism and hope, the words of an old crypto back.
Ripple CEO highlights encouraging signs of potential regulatory evolution…
CEO of Ripple i know what you are talking about regulations on cryptocurrencies. His company has been against it since 2020 Securities Commission (DRY) which is the US financial regulator. In question, the nature of XRP from a legal point of view. Is it a financial asset like any other? The regulator says yes while society says no. The procedure has already been going on for many months and the entire ecosystem depends on this decision which can be decisive beyond the company.
Aware of challenges, Brad Garlinghouse takes advantage of the opening of Congress to exert pressure on parliamentary. Furthermore, he is pleased that the desire for appropriate regulation is supported cross-party by elected officials Democrats, but also the republicans. Likewise, he has both behind him MPs AND senators, which will be essential for a hypothetical vote in favor of crypto. Then he reminds his audience of that part of the work regulator it has already started. Indeed, debates about stablecoins or centralized exchanges have given rise to interesting bills.
…warning against hesitations which would ultimately be harmful.
He mentions as an example Securities Clarity Act, Responsible Financial Innovation Act AND The Law of Clarity on Digital Signs. All of them TEXTS legislation in preparation aim to create a frame adequate legal framework for the development of the sector. Ripple’s CEO also encourages parliamentary to move forward to face current challenges, even if it means making mistakes:
“No law is perfect and there will probably never be a law that pleases everyone. But perfection should not be the enemy of progress. These proposals provide much 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 eMERGENCY Act. First of all, one part of the world is moving faster than its own country, which can create an environment competitive bad for American businesses. But above all, he continues, status quo countries with higher regulatory standards benefit weak. This can have consequences other disasters like FTX. Finally, it ends up vibrating the fiber patriotichighly sensitive among our friends across the Atlantic:
“118e Congress faces a historic opportunity to ensure that the United States remains a leader in innovation for decades to come. Hopefully he will be able to figure it out. »
Brad Garlinghouse exposes in a few thousand characters on Twitter all the issues regulator next year. Both for his company, but also for the entire cryptocurrency industry. Because around United States, things are moving forward. withinEuropean Unionfor example, we are already talking of a MiCA 2 regulation. While in our hexagon, PSAN approval may become the norm.
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