Ripple proposes a real approach to regulating cryptocurrencies
Ripple proposes a real approach to regulating cryptocurrencies
Ripple has published a proposal for a regulatory framework for cryptocurrencies called "A Real Approach to Cryptocurrency Regulation". CEO Brad Garlinghouse explained that the "proposed political framework of his company is a three -track approach, which can now be done", and found that it was he result of Ripple’s "direct interactions with regulatory authorities and non -partisan political decision -makers".
ripple’s 'real approach for the regulation of cryptocurrencies'
Ripple published a proposed regulatory framework for cryptocurrencies on Tuesday. The proposal is the "vision of the company how existing financial regulatory framework can be used to promote innovations and improve consumer and market protection". Ripple in detail, elaborating:
Today we are proud to publish our vision for "A Real Approach to Cryptocurrency Regulation", a framework that should offer an immediate and pragmatic approach for the regulation of cryptocurrency and digital assets in the United States.
The company said that it believes that "the best results of public policy through public-private cooperation, adapting existing regulatory framework and promoting sandboxes for crypto innovations can be achieved". These are three important recommendations in the Suggestion .
“Ripple believes that our proposal will make sure that the United States succeeds in promoting crypto innovations within its limits and at the same time maintaining the strong consumer and investor protection for which you are known,” wrote the company.
Brad Garlinghouse, Ripplle’s CEO, described:
Our proposed political framework is a three -track approach of what can now be done to clarify one of the fastest growing industries in the USA. It is also the result of our direct interactions with regulatory authorities and non -partisan political decision -makers.
"The crypto industry takes the top for public-private cooperation in politics-no question-and we will continue to try to find the optimal way together," he added.
"All proposed measures discussed in this context aim to provide industry, markets and consumers legal clarity that an ad hoc approach of regulation simply cannot." Ripple completed. The proposal can be found here .
The US Securities and Exchange Commission (SEC) was criticized for pursuing a assertiveness in crypto regulation. SEC-Commissioner Hester Peirce criticized your own agency for this approach to regulate the crypto sector had announced a enforcement measure against the Polonieex cryptocurrency exchange. Many people also asked the SEC for more clarity in cryptor regulation, but without success.
meanwhile, Ripple is still in an ongoing procedure with the SEC. The securities supervisory authority sued the company, CEO Garlinghouse and co-founder Christian Larsen because of the sale of xrp viewed.
ripple is not the only one who has submitted a proposal for cryptor regulation. The Coinbase, noted on the Nasdaq, also suggested a crypto framework with four, with four central recommendations. CEO Brian Armstrong met with supervisory authorities to convince them that the United States should only have one federal supervisory authority that supervises the crypto room. At the moment, Coinbase has said that 53 Supervisory authorities only in the USA . .
On Tuesday, Binance also called for global regulatory framework for cryptoma markets. The stock exchange started an advertising campaign entitled "Crypto is Evil" with "10 fundamental rights for crypto users".
What do you think about Ripple’s proposal for crypto regulation? Let us know in the comment area below.
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