The case Ripple Regulation is still ongoing, but the company has now moved forward his cryptocurrency bill.
The Ripple SEC lawsuit
There is no end in sight, but it seems to have reached a point of development there Lawsuit filed by the SEC against the blockchain company Ripple Labs.
The basis of the allegation is the classic, always issued by the American Securities and Exchange Commission, namely the Unauthorized sale of cryptocurrencies.
A few weeks ago, the SEC released a new analysis of the structure that manages and supports the cryptocurrency XRP, which aims to transform the banking market.
The announcement of the lawsuit, sponsored by Ripple Labs attorneys, has caused the cryptocurrency to lose a lot of ground, especially at the beginning, but for a few weeks now the value of XRP seems to have leveled off on a growth line.
Ripple asked twice once Extension to court, anticipated by a letter addressed to the public prosecutor’s office to re-establish the facts.
The SEC also received one from the blockchain firm formal request for agreement between the parties so as not to make times too long.
However, it appears that once again the SEC’s tone seems firm and not questionable. Ripple went to court for this.
Ripple is still in litigation against the SEC
Ripple’s cryptocurrency bill
At the heart of Ripple’s strategy is finding a link between public and private finances. This is always waiting for a suitable regulation to favor its development.
The issue of cryptocurrency and its democratic ability to innovate is still an issue that is not fully resolved.
This the statement from the CEO of Ripple, Brad Garlinghouse.
“Cryptocurrencies and blockchain technology require clear regulatory and licensing framework conditions that are designed to address and solve the specific challenges of our industry. All of the proposed measures discussed in this framework aim to provide legal clarity for industry, markets and consumers that an enforcement approach simply cannot ”.
What is missing is a flow of information that is supported by politics so that the legal framework of digital assets within financial politics takes on a different and actionable form.
Not all public policies are dedicated to experimenting or adopting digital currencies as an investment opportunity or return at the national economic level.
Therefore, a law must be created that promotes and protects the characteristics and possibilities of the decentralized world at the same time.
Susan Friedman, Ripple’s Chief Public Policy Officer, said:
“The development of an effective political framework for cryptocurrencies will only be possible if there is clear communication and cooperation between private and public actors. It is for this reason that we have been proactive and non-partisan in discussing the issue with regulators and members of Congress. These conversations have helped shape our view of the kind of regulatory clarity that industry and the wider ecosystem need from regulators, as well as the kinds of requirements that regulators should demand from industry. “
New legislative initiatives
The Ripple theme paints many other realities based on the legally recognized execution of crypto investments.
Even the SEC itself continues to hamper internal communications plans that could lead to real regulation, albeit in part.
However, there is a bill that will bring the discussion back to a level of confrontation. It’s theLaw remove obstacles to innovation.
This proposal provides for the establishment of two different dialogue groups, appointed by the SEC and the CFTC and supported by private and public companies. The problem of cryptocurrency would be addressed in a direct way through the management of these differentiable assets.
According to Ripple, working within new financial frameworks that partially regulate the management of securities related to the crypto world would be the first important step.
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