Ripple CEO Expects Breakthrough In Crypto Rules Amid Pending XRP Lawsuit Ruling

Ripple CEO, Brad Garlinghouse in a Twitter thread stated that it is the first day of the 118th Congress and there is a lot to achieve.
By Ashish Kumar
Ripple CEO XRP lawsuit news

Global watchdogs are still in pursuit of making strict and effective rules around the digital asset industry. The commissions have failed to provide regulatory clarity over crypto with its prior efforts. However, Brad Garlinghouse, Ripple CEO seems to be ‘cautiously optimistic’ to see a breakthrough in 2023.

Advertisement
Advertisement

Ripple CEO seeks clarity

Ripple CEO in a Twitter thread stated that it is the first day of the 118th Congress and there is a lot to achieve. However, support for regulation is bipartisan and bicameral. While he mentioned the names of some Congressmen who have supported blockchain and accepted the need for clarity.

He added that they are not working with a blank slate as prior presented bills have somehow tried to address everything. This includes stablecoins, CEXs, clear definitions of Digital asset security, the Clarity for Digital Tokens Act, and more.

Garlinghouse believes that no bill is perfect and it is difficult to satisfy everyone. However, in the pursuit of the perfect bill, progress shouldn’t be hindered. Ripple CEO stated that these proposals ignite a debate in Congress. The stakes now are higher than ever.

Ripple executive highlighted that countries like Singapore, the EU, Brazil, and Japan all have crypto frameworks. While the UK also stands ahead of the US. The authority is lacking coordinate global standards as of now, he added.

Advertisement
Advertisement

XRP lawsuit to provide clarity?

He urged that changing the status quo is not easy. However, in order to exist it is necessary to act now. This a chance to get this right for millions of crypto holders. These major statements have come amid the pending ruling in the crucial XRP lawsuit. It is expected the outcome of the lawsuit will provide clarity to the crypto market.

Coingape reported that the XRP lawyer has predicted that the Ripple lawsuit will not end in a settlement.

Advertisement
Ashish Kumar
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.