Ripple warns of over-regulation by SEC: New crypto law could endanger open networks

Ripple warns of over-regulation by SEC: New crypto law could endanger open networks

ripple warns of over-regulation by new crypto law

Ripple, the well-known company in the field of blockchain technology, expresses concern about a planned new crypto law, which could possibly lead to over-regulation by the Securities and Exchange Commission (SEC). In a statement, Ripple emphasizes that the current form of the draft law could not only endanger the innovative strength of the industry, but could also have negative effects on the development and use of digital currencies.

In particular, Ripple criticizes that the regulations in its current form could affect the use of tokens in open networks. The company suggests that tokens in open networks should be used for a variety of applications to promote innovation research and competitiveness in the crypto sector.

The increasing pressure on regulatory authorities to develop clear guidelines for cryptocurrencies illustrates the need to find a balanced relationship between protection and promotion of innovation. Ripple calls on legislators to take into account the specific needs of the crypto community in order to create a regulatory environment that enables both security and growth.

Overall, Ripple's warning shows that the debate about crypto regulation is still of great importance and that the effects on the entire industry have to be carefully weighed.