The United States has been at the forefront of the ongoing debate on cryptocurrency regulation, with lawmakers proposing different policies to govern the industry. Recently, the United States introduced a new bill with the aim of promoting innovation in the crypto industry by creating a more conducive regulatory environment.
Susan Friedman Backs Pro-Crypto Bill
Ripple’s Head of Public Policy, Susan Friedman, has taken to social media to voice her support for a new pro-crypto bill proposed in the US. The Keep Innovation in America Act, presented by House of Financial Services Committee Chair Patrick McHenry and Congressman Ritchie Torres, aims to provide clarity in the regulatory space of the digital asset industry by changing the definition of a crypto “broker.”
The bill seeks to tackle the issue of unclear regulatory policies that are driving innovative industries out of the US. It specifically aims to redefine the term “broker” in a way that does not impose overly burdensome reporting requirements on the industry.
Ripple’s Legal Battle with the SEC
For Ripple, the bill could be a game-changer in its legal battle with the SEC. The regulatory agency has been unrelenting in its position against Ripple and XRP, arguing that they are unregistered securities. However, the bill could provide greater clarity and regulation in the digital asset industry, which would benefit Ripple and other businesses operating in the space.
John Deaton, a pro-Ripple lawyer, has hinted that a verdict in the case may be forthcoming soon, with a summary judgment expected within the next few weeks. With the introduction of the Keep Innovation in America Act, Ripple’s legal battle with the SEC could see a significant turning point in the coming weeks.
The industry will closely monitor Ripple’s endorsement of the bill and the possible verdict in their legal battle with the SEC. The response of the US government to the bill and whether it will provide a clearer and more certain regulatory environment for the crypto industry in the US remains to be seen.
Final Thoughts
The support of Ripple’s head of Public Policy for the Keep Innovation in America Act highlights the importance of creating a favorable regulatory environment for the digital asset industry.
The proposed legislation could also have a significant impact on Ripple’s ongoing legal battle with the SEC. Ripple and other digital asset companies might operate more efficiently in the US market if the bill passes.
I am a freelance writer specializing in crypto news. With a background in finance and a passion for technology, I have been closely following the crypto market for several years. I have written for various online publications, covering the latest trends, news, and analysis in the world of cryptocurrency. I am dedicated to providing accurate and insightful coverage of the rapidly evolving crypto industry, helping readers stay informed and up-to-date on the latest developments.
