Claim $500XRP News: Congress Asks US SEC To Make Clear Crypto Rules
XRP News: One of the biggest financial watchdogs, the U.S. Securities and Exchange Commission (SEC) faces Congressional pressure to form efficient rules for the crypto industry. This development comes when the commission reportedly received a partial win in the XRP lawsuit summary judgment.
Read XRP Lawsuit News: SEC Chair Says He’s ‘Disappointed’ at Non-Security Tag
Will SEC Engage With Congress Over Crypto Rule Making?
U.S. Congressman French Hill along with Rep. Dusty Johnson sent a letter to the US SEC Chair, Gary Gensler stressing the cruciality of being productive in rules formation for digital assets. It is important to establish clear rules of the road for all market participants, it added.
The letter mentioned that it is a priority for the House Committee on Financial Services and House Committee on Agriculture to make comprehensive rules. It is important for the country to push innovation and growth in markets.
It highlighted that the committees did more than 15 hearings around digital asset policy over the past four years. This included a joint hearing of both committees where it discussed existing regulatory gaps. However, where Congress is working to fix the regulatory gaps steadily, the SEC is opting for the enforcement way to regulate the market. It added that the commission is trying to control crypto intermediaries through multiple rulemaking and staff actions. Read More XRP News Here…
Congress Pressures Commission
Eleanor Terrett, a Fox Business Journalist reported that two letters have been sent out to the SEC chair in the last 24 hours. The intent is focused on ending the Commission’s regulation by enforcement approach towards crypto. Earlier, Rep. Ritchie Torres approached Gary Gensler with the same concerns.
U.S. House Committee on Financial Services Republicans stated that after the XRP lawsuit ruling, it is now critical for the SEC chair to work with Congress to ensure that digital asset users get protected.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor’s “Green Dots” Message Hints At Fresh Bitcoin Buying As BTC Faces $90K Wall
- Fed’s Hammack Signals No Rush to Cut Rates as January Hold Odds Near 80%
- XRP ETFs Reach $1.21B as Asset Managers See a ‘Third Path’ Beyond Bitcoin
- Nearly $50M in USDT Stolen After Address Poisoning Scam Targets Crypto Trader Wallet
- Breaking: Rep. Max Miller Unveils Crypto Tax Bill, Includes De Minimis Rules for Stablecoins
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
