Ripple has recently announced a proposal of a Regulatory Framework for Cryptocurrencies. This is known to be called “A real approach to Cryptocurrency Regulation.”
The company CEO, Brad Garinghouse, further elaborated that the company’s prosed policy is a three-pronged strategy. It is the result of the direct interactions with Ripple’s Regulators and the Bipartisan Policymakers.
Brad Garlinghouse, Ripple’s CEO, described:
Our proposed policy framework is a three-pronged approach of what can be done now to provide clarity to one of the fastest-growing industries in the U.S. This is the result of our direct interactions with bipartisan policymakers and regulators.
Ripple’s ‘Real Approach to Cryptocurrency Regulation’
Ripple presented a proposal for the Regulatory Framework for cryptocurrencies this Tuesday. This proposal consists of the company’s vision for how the existing financial regulatory frameworks can enhance innovation and advance consumer and market protections. Ripple further stated:
Today, we are proud to release our vision for ‘A Real Approach to Cryptocurrency Regulation’. It is a framework formed to provide a pragmatic and immedaite ultimate approach for the crypto regulation and digital assets in the United States of America.– CEO Brad Garlinghouse, Ripple
The company believes that the best public policy outcomes can be achieved by pubic-private collaboration. This means adapting the existing regulatory framework and fostering the crypto innovation sandboxes. There were the three major key components outlined in the company proposal.
“Ripple believes that our proposal will guarantee that the U.S. succeeds in nurturing crypto innovations within their borders. Also maintaining the strong investor and customer protection,” the company wrote.
“The crypto space is stepping onto the stage for public-private collaboration on policy – no doubt about that.
“Crypto industry is stepping onto the stage of Public and Private Collaboration policy. And we shall continue to work together to seek the optimal pathway ahead,” Brad added.
“All of the proposed measures mentioned in our framework ensures to provide legal clarity to the markers and industries and consumers. That too in such a way that an ad hoc, the regulation-by-enforcement approach simply cannot provide,” Ripple concluded.
Meanwhile, Ripple has an ongoing lawsuit with the SEC of the United States. The U.S. securities regulator sued the company CEO and Co-Founder for the sale of XRP, which is considered a security offering.
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