Ripple has responded to the U.S. Senate's Request for Information on the Crypto Market Structure Bill, advocating for less reliance on the 'ancillary asset' concepts.
Ripple's Response to the Crypto Market Bill
Ripple has provided its comments to the U.S. Senate’s Request for Information regarding the Crypto Market Structure Bill. The company has proposed the necessity of clear digital asset classifications while reducing reliance on the 'ancillary asset' concept to avoid excessive SEC oversight.
Potential Impact on Cryptocurrencies
Ripple's response could significantly impact digital assets like ETH, SOL, and XRP by shaping regulatory clarity and potentially limiting SEC oversight. The call for regulatory transparency is aimed at preventing market uncertainty, which could reflect broader market dynamics.
Ripple's Strategy and Future Regulation
In its official statement, Ripple emphasizes that the concept of ancillary assets could subject major tokens operating on open and permissionless networks to perpetual SEC oversight. The company states that to avoid regulatory fragmentation and market uncertainty, the draft bill should align with the CLARITY Act’s approach to digital asset classification.
In an environment of regulatory uncertainty, Ripple offers a strategy that could lead to a more stable and innovative landscape for digital assets. This may help attract institutional investments and support the adoption of new technologies.
