{"id":14389,"date":"2021-11-17T02:54:02","date_gmt":"2021-11-17T02:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/ripple-proposes-real-approach-to-cryptocurrency-regulation\/"},"modified":"2021-11-17T02:54:02","modified_gmt":"2021-11-17T02:54:02","slug":"ripple-proposes-real-approach-to-cryptocurrency-regulation","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ripple-proposes-real-approach-to-cryptocurrency-regulation\/","title":{"rendered":"Ripple Proposes \u2018Real Approach to Cryptocurrency Regulation\u2019"},"content":{"rendered":"

Ripple has published a proposal for a regulatory framework for cryptocurrencies called \u201cA Real Approach to Cryptocurrency Regulation.\u201d CEO Brad Garlinghouse explained that his company\u2019s \u201cproposed policy framework is a three-pronged approach of what can be done now,\u201d noting that it is t<\/strong>he result of Ripple\u2019s \u201cdirect interactions with regulators and bipartisan policymakers.\u201d<\/strong><\/p>\n

Ripple\u2019s \u2018Real Approach to Cryptocurrency Regulation\u2019<\/h2>\n

Ripple published a proposed regulatory framework for cryptocurrencies Tuesday. The proposal is the company\u2019s \u201cvision for how existing financial regulatory frameworks can be used to advance innovation and enhance consumer and market protections,\u201d Ripple detailed, elaborating:<\/p>\n

Today, we were proud to release our vision for \u2018A Real Approach to Cryptocurrency Regulation,\u2019 a framework designed to offer an immediate and pragmatic approach to cryptocurrency and digital asset regulation in the United States.<\/p>\n

The company explained that it believes \u201cthe best public policy outcomes can be achieved by public-private collaboration, adapting existing regulatory frameworks, and fostering crypto innovation sandboxes.\u201d These are three key recommendations outlined in the proposal<\/a>.<\/p>\n

\u201cRipple believes that our proposal will ensure the U.S. succeeds in nurturing crypto innovation within its borders while also maintaining the strong consumer and investor protections it\u2019s known for,\u201d the company wrote.<\/p>\n

Brad Garlinghouse, Ripple\u2019s CEO, described:<\/p>\n

Our proposed policy framework is a three-pronged approach of what can be done now to provide clarity to one of the fastest-growing industries in the U.S. It\u2019s also the result of our direct interactions with regulators and bipartisan policymakers.<\/p>\n

\u201cThe crypto industry is stepping up to the plate for public-private collaboration on policy \u2013 no question about it \u2013 and we will continue to seek to work together on the optimal path forward,\u201d he added.<\/p>\n

\u201cAll of the proposed measures discussed in this framework seek to provide legal clarity to industry, markets, and consumers in a way that an ad hoc, regulation-by-enforcement approach simply cannot,\u201d Ripple concluded. The proposal can be found here<\/a>.<\/p>\n

The U.S. Securities and Exchange Commission (SEC) has been criticized for taking an enforcement approach to crypto regulation. SEC Commissioner Hester Peirce criticized<\/a> her own agency in August for taking this approach to regulating the crypto sector after the SEC announced an enforcement action against cryptocurrency exchange Poloniex. Many people have also asked the SEC for more clarity on crypto regulation but to no avail.<\/p>\n

Meanwhile, Ripple is still in an ongoing lawsuit with the SEC. The securities regulator sued the company, CEO Garlinghouse, and co-founder Christian Larsen over the sale of XRP<\/a> which it considers a security offering.<\/p>\n

Ripple is not the only one that has come up with a proposal for crypto regulation. The Nasdaq-listed cryptocurrency exchange Coinbase has also proposed a crypto framework<\/a>, with four key recommendations. CEO Brian Armstrong has been meeting with regulators to convince them that the U.S. should have just one single federal regulator overseeing the crypto space. Currently, Coinbase said it has 53 regulators in just the U.S<\/a>.<\/p>\n

On Tuesday, Binance also called for global regulatory frameworks<\/a> for crypto markets. The exchange launched an ad campaign titled \u201cCrypto Is Evil,\u201d featuring \u201c10 Fundamental Rights for Crypto Users.\u201d<\/p>\n

What do you think about Ripple\u2019s proposal for crypto regulation? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Brad Garlinghouse, Christian Larsen, proposed crypto regulation, ripple crypto regulation, Ripple Labs, ripple sec lawsuit, ripple vs sec, sec lawsuit, sec vs xrp<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple has published a proposal for a regulatory framework for cryptocurrencies called \u201cA Real Approach to Cryptocurrency Regulation.\u201d CEO Brad Garlinghouse explained that his company\u2019s \u201cproposed policy framework is a three-pronged approach of what can be done now,\u201d noting that it is the result of Ripple\u2019s \u201cdirect interactions with regulators and bipartisan policymakers.\u201d Ripple\u2019s \u2018Real…<\/p>\n","protected":false},"author":0,"featured_media":14390,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14389"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14389"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14390"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}