Ripple CEO Optimistic For Crypto Industry As SEC Posture Shifts
• Ripple CEO Brad Garlinghouse shares positive updates for the crypto industry amidst increased scrutiny from the SEC.
• The Ripple team has observed a shift in posture from the SEC, leading them to believe a resolution is near.
• Other countries such as Dubai, Australia, and the UK have taken steps towards becoming leaders in the crypto industry.
Ripple CEO Makes a Splash with Positive Updates
Ripple CEO Brad Garlinghouse recently shared positive updates for the crypto industry amidst increased scrutiny by the US Securities and Exchange Commission (SEC). The Ripple team has observed a shift in posture from the SEC, leading them to believe that a resolution is near.
The Ripple Effect: Waiting For A Resolution In XRP Lawsuit
The XRP lawsuit against Ripple is causing quite a ripple in the crypto world as CEO Brad Garlinghouse and the U.S. Securities and Exchange Commission (SEC) wait for the court’s Summary Judgement. In his latest statement, Garlinghouse mentioned that there appears to be commonality among recent decisions made by global regulators–namely that some are providing leadership and direction on crucial matters while US authorities remain cautious.
Regulators Providing Leadership On Crypto Matters
Dubai has taken significant steps towards becoming a leader in tech-forward thinking by publishing comprehensive regulations for crypto market traders covering compliance standards, advertising, and issuance. Additionally, Australia’s Treasury is looking to improve licensing and custody rules regarding digital assets to support consumer protection while also issuing token mapping consultations open for public input before updating existing rules. Lastly, HM Treasury of the UK issued consultation reflecting their intent to build proportionate rules for this industry allowing firms to innovate while maintaining financial stability.
US Regulation Still Unclear
Despite these advancements abroad US regulation remains unclear as SEC Chair Gary Gensler stated that almost all cryptocurrencies are securities leaving little room for settlement between parties in this legal dispute between Ripple and US authorities.
Overall it seems as though other countries around the world have taken significant steps forward when it comes to regulating cryptocurrency whilst US authorities are still taking cautionary approaches when it comes to making decisions about its legal status within their borders