- Payments giant Ripple seeks to work with the Congress and regulators on smart cryptocurrency regulation.
- Ripple executives believe that the crypto sector is not the wild west; several entities in crypto seek to work proactively with regulators.
- Ripple continues uptrend; analysts identify buy opportunities before altcoin’s price hits $1.06.
Ripple executives believe that cryptocurrency is not the “wild west,” unlike SEC Chair Gary Gensler’s view. The payments giant is in the middle of its lawsuit with the SEC, and it has offered to collaborate with Congress and work on smart cryptocurrency regulation.
Payment giant Ripple seeks to work with the Congress
As the Securities and Exchange Commission proceedings against Ripple continue, the payments giant has proposed collaborating with Congress on cryptocurrency regulation.
SEC Chair Gary Gensler said that the cryptocurrency sector is the “Wild wild west,” but Ripple holds the opposite view. Ripple’s Head of Public Policy, Susan Friedman, has noted that cryptocurrency entities proactively seek to work towards regulation.
The payments giant has offered to work with Congress in developing smart cryptocurrency regulation that fosters innovation in the industry while protecting investor funds.
While we understand the concern expressed by Sen. Warren, Russia actually faces some pretty big obstacles in using crypto to bypass sanctions https://t.co/Asi9N6UToS https://t.co/xW0tBRxH3n
— Susan Friedman (@ss_friedman) March 1, 2022
John Deaton, founder of Cryptolaw and Ripple proponent, believes that the court’s decision on the SEC’s opposition to Ripple’s motion seeking disclosure of meeting notes between the CEO and lawyer Elad Roisman could be the “biggest decision in the lawsuit” yet.
Deaton believes that notes could boost Ripple’s case against the regulator if notes are produced. Brad Garlinghouse was confident that XRP is not an unregistered security post the 2018 meeting with the former SEC Commissioner Elad Roisman.
Developments in the SEC vs. Ripple lawsuit have impacted the altcoin’s price since the payment giant is the largest public holder of the cryptocurrency. Analysts have evaluated the Ripple price trend and noted that XRP is outperforming Ethereum on the daily Ichimoku chart and could present a buy opportunity before hitting $1.06.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.