Ripple's Legal Chief Calls for Innovation-Friendly Crypto Regulation in Congress

Ripple's chief legal officer, Stuart Alderoty, has called on Congress to adopt a pragmatic approach to crypto regulation. He emphasizes the need for legislation that promotes innovation while utilizing existing regulatory frameworks.

Regulating Activities, Not Technology

Alderoty argues for regulating activities rather than the underlying technology itself, in order to create an environment conducive to innovation. He cautions against hastily implementing new regulations and urges lawmakers to engage in thorough study and seek broad consensus.

Clear Guidelines for Crypto Firms

SEC Commissioner Mark Uyeda also criticizes the agency's current approach and emphasizes the importance of clear guidelines for crypto firms.

Possible Shift in Regulatory Approach

The election of President Donald Trump and the appointment of crypto advocate Paul Atkins suggest a possible shift towards a more balanced regulatory approach.

Striking a Balance

The industry calls for regulations that clarify responsibilities without stifling growth. The future of cryptocurrency regulation in the U.S. depends on lawmakers striking a balance between investor protection and fostering innovation.

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