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“We have seen an acceleration of regulation through law enforcement. We have seen a rise in strategic ambiguity and an effort by regulators, quite frankly, to engage in regulatory land grabbing, which I think is more akin to politics than politics. Alderoty said in an interview.
Ripple is in a legal battle with the SEC over the company’s $ 1.3 billion sale of its XRP cryptocurrency. The SEC alleged that Ripple made an offer of unregistered securities through the sale, which Ripple denies.
The company this year proposed a regulatory framework for cryptocurrency that approved legislation (HR 4451) introduced by Representative Tom Emmer, R-Minn., That would prevent tokens from being considered securities. Another bill, presented to the last Congress by the Rep. K. Michael Conaway, R-Texas, is expected to be reintroduced in the new year and put crypto exchanges under CFTC oversight.
Ripple also approved a bipartisan bill introduced by House Financial Services, RN.C., Ranker Patrick T. McHenry, and Rep. Stephen F. Lynch, D-Mass., That would convene a panel that included representatives from the SEC, CFTC and the private sector. sector to work on the issue. The House passed the bill in April.
Stablecoins
The industry is also keen to engage lawmakers on stablecoins, another area where actions are expected in 2022. Stable coins are cryptocurrencies whose value is tied to another asset, such as the dollar. The industry is growing rapidly, reaching a market cap of $ 147 billion last month, according to a memo from House Financial Services.
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Sources 2/ https://www.rollcall.com/2021/12/14/with-eye-on-2021-law-crypto-industry-to-engage-with-congress-in-2022/ The mention sources can contact us to remove/changing this article |
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