Ripple News: Exec Makes Latest Comment On Tension With U.S. SEC
Highlights
- Ripple faces significant regulatory challenges in the U.S., struggling with ongoing disputes with the SEC.
- The company contrasts its difficult U.S. experiences with positive regulatory developments in Europe.
- Ripple expresses optimism about the EU's MiCA regulations, which provide more explicit guidelines for the crypto industry.
Ripple Labs, a blockchain payments company, is facing significant regulatory hurdles in the United States. Cassie Craddock, the company’s managing director for the U.K. and Europe, recently emphasized the U.S. market’s challenges. While the firm battles with the Securities and Exchange Commission (SEC) over its operations, Ripple sees European regulatory advancements as a beacon of progress.
Ripple CEO Criticizes U.S. Crypto Regulations
The tension between Ripple (XRP) and the SEC affects its operations. The ongoing legal disputes underscore the U.S.’s complex regulatory environment for cryptocurrencies. Brad Garlinghouse, Ripple’s CEO, has voiced frustration over the lack of clear regulatory guidelines, which he believes stifles innovation in the sector. This ongoing struggle highlights the company’s difficulty navigating American regulatory waters, starkly contrasting its experiences in European markets.
Furthermore, Ripple’s Chief Legal Officer, Stuart Alderoty, pointed out the SEC’s recent legal setback, which involved the rescission a 2020 rule concerning proxy advisory firms. This rule, which was never implemented, would have imposed specific conditions on firms providing voting advice to shareholders. Alderoty’s comments link this incident to broader regulatory compliance issues and enforcement challenges faced by businesses under the SEC’s jurisdiction.
Also Read: Consensys Responds to SEC Lawsuit Over MetaMask, Here’s All
EU Advances with Clear Crypto Guidelines
In contrast to the U.S., Ripple has welcomed the introduction of the Markets in Crypto-Asset Regulation (MiCA) in the European Union. This framework, which initially came into force in mid-2023, aims to provide clear guidelines for the cryptocurrency industry. Craddock expressed optimism about MiCA, noting that it offers much-needed clarity for market participants. Although some ambiguities remain, the overall sentiment among Ripple executives is optimistic regarding the European regulatory landscape.
However, Marina Markezic, a leader at the European Crypto Initiative, has shared concerns about clarifying the MiCA provisions. The diverging approaches of the U.S. and EU towards cryptocurrency regulation are becoming increasingly evident. While the EU moves forward with definitive regulations encouraging industry growth and innovation, the U.S. remains embroiled in legal and regulatory complexities.
Also Read: Hong Kong’s Securities Regulator Flags Three Crypto Firms For Fraud
- Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts
- S&P Launches Crypto 50 Index But There’s A Catch
- NYSE Owner ICE to Invest $2B in Polymarket as Interest in Prediction Markets Heats Up
- Expert Predicts SOL ETF Approval This Week as Solana ETPs Break All-Time Record
- XRP On-Chain Data Flashes Buy Signal as Analysts Target $4
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
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.
