The United States Securities and Exchange Commission (SEC) is focusing on developing a clear cryptocurrency regulatory framework after the industry’s longest legal battle.
SEC and Ripple Labs ended the dispute of nearly five years after A. Admission Last Thursday with another circuit appeal court.
The conclusion of the case is a “reception development”, which ensures that “once occupied with litigation can now focus on creating a clear regulatory structure for crypto,” SEC Commissioner Haster Pires said in X on Monday. Post,
“With the shutdown of this chapter, we now have the opportunity to transfer our energy from the court room to the policy drafting table,” said SEC President Paul Atkins in response to Prasa. He said, “Our focus should be on the creation of a clear regulatory structure that promotes innovation, protecting investors,” he said.
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The SEC filed a triple sued in December 2020, alleging that the company raised $ 1.3 billion through the sale of unregistered XRP securities. In July 2023, Judge Analyssa Torres ruled that the XRP was not safety when retail investors were sold, but institutions had sales security. Ripple was fined $ 125 million in August 2024.
The end of the case comes in the form of MPs, which forwards the Digital Asset Market Clarity Act, known as the Clarification Act. The purpose of the bill is to define the structure of digital asset markets.
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Push for clarity act
The objective of Republican MPs and Senate Banking Committee is to pass the bill on September 30, despite increasing signs of pushbacks from Democratic Party MPs.
Earlier in July, members of the Principal Democratic Party at the House of Representatives declared a collective effort to oppose the Republican efforts to pass the so -called “dangerous” laws, indicating the political division between the two sides of the corridor.
Member of House Financial Services Committee Ranking, Maxin Waters said, “(Republican) is doubled by fasting a dangerous package of the Crypto Act through Congress,” Especially criticizing the Clarity Act and Anti-CBDC Monitoring State Act, which has been called in the ranking of Maxin Waters, which has been said to be in the ranking of Maxin Waters. Wants to ban the launch.
https://www.youtube.com/watch?v=ry9mi57pbjs
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