Source: CryptoNewsNet
Original Title: Ripple CEO Optimistic About Crypto Market Structure Bill
Original Link:
Ripple CEO’s Support for Market Structure Bill
Ripple CEO Brad Garlinghouse has thrown his weight behind Senator Tim Scott’s market structure proposal, calling it a “massive step forward” for the industry.
Garlinghouse’s support is rooted in Ripple’s own experience from years of regulatory ambiguity. “Ripple (and I) know firsthand that clarity beats chaos, and this bill’s success is crypto’s success,” he said.
The bill recently saw a total of 137 amendments, with intense debates happening behind closed doors. The Ripple boss has indicated that the company remains “at the table” instead of simply walking away.
Garlinghouse is “optimistic that issues can be resolved through the mark-up process.” He praised the bill for finally providing “workable frameworks for crypto, while continuing to protect consumers.”
Markup Session Officially Scrapped
The Senate Banking Committee has officially pulled the market structure markup scheduled for the following day.
The decision to scrap the session follows a public revolt by a certain compliance platform, whose CEO expressed concerns about the proposal.
The lawmakers were unwilling to proceed with a bill that had turned toxic in the eleventh hour. The flurry of amendments failed to bridge the gap between the anti-stablecoin banking lobby and the crypto lobby.
Senate staffers will likely retreat to closed-door negotiations.
Ripple CEO Optimistic About Crypto Market Structure Bill
Source: CryptoNewsNet Original Title: Ripple CEO Optimistic About Crypto Market Structure Bill Original Link:
Ripple CEO’s Support for Market Structure Bill
Ripple CEO Brad Garlinghouse has thrown his weight behind Senator Tim Scott’s market structure proposal, calling it a “massive step forward” for the industry.
Garlinghouse’s support is rooted in Ripple’s own experience from years of regulatory ambiguity. “Ripple (and I) know firsthand that clarity beats chaos, and this bill’s success is crypto’s success,” he said.
The bill recently saw a total of 137 amendments, with intense debates happening behind closed doors. The Ripple boss has indicated that the company remains “at the table” instead of simply walking away.
Garlinghouse is “optimistic that issues can be resolved through the mark-up process.” He praised the bill for finally providing “workable frameworks for crypto, while continuing to protect consumers.”
Markup Session Officially Scrapped
The Senate Banking Committee has officially pulled the market structure markup scheduled for the following day.
The decision to scrap the session follows a public revolt by a certain compliance platform, whose CEO expressed concerns about the proposal.
The lawmakers were unwilling to proceed with a bill that had turned toxic in the eleventh hour. The flurry of amendments failed to bridge the gap between the anti-stablecoin banking lobby and the crypto lobby.
Senate staffers will likely retreat to closed-door negotiations.