Ripple is actively participating in the discussion of the new crypto bill, offering its insights and recommendations for clarity in regulation.
Introduction to the Crypto Bill
Ripple responded to the U.S. Senate Banking Committee's Request for Information regarding the draft Crypto Market Structure Bill, submitting its comments and recommendations.
Ripple's Regulatory Concerns
The company expressed concerns that the bill may lead to additional confusion by blurring the lines between SEC and CFTC jurisdiction. Ripple urged lawmakers to clarify these boundaries to ensure balanced oversight.
Ripple's Suggestions for Improvement
Ripple proposed that tokens operating on open networks for five years should be presumed outside securities law. They also strongly recommended establishing federal rules to prevent conflicts with state laws.
Ripple emphasizes the need for clear definitions and safeguards in the new crypto bill to ensure balanced regulation for the cryptocurrency industry.
