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Ripple Criticizes Senate Crypto Bill’s Regulatory Framework

Key Points:

Ripple challenges the U.S. Senate’s draft bill on expanding crypto regulatory powers, emphasizing the need for clearer delineation between the roles of the SEC and CFTC.

Major opposition has arisen due to the regulatory uncertainty the bill introduces, as leaders in the trade have voiced concerns over what they see as ambiguous regulatory jurisdiction.

Regulation Concerns

Ripple has criticized the Senate’s proposed structure, which seeks to establish a new commodity market oversight authority. Among these criticisms are the use of vague categories like “ancillary assets,” which Ripple believes could subject established tokens to ongoing SEC scrutiny. Ripple’s Chief Legal Officer, Stuart Alderoty, shared his insightful commentary on Twitter addressing these concerns.

“It’s essential to clearly delineate the jurisdiction between the SEC and CFTC to foster innovation and stability in the crypto markets.” – Stuart Alderoty, Chief Legal Officer, Ripple

Ripple has also expressed concern over the draft bill’s ambiguous concepts that risk ongoing market uncertainty, potentially stifling institutional involvement and liquidity for tokens. TradingView provides industry experts with the tools necessary for analyzing these potential shifts in market dynamics.

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