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XRP News: Pro-Crypto Congress Sparks Renewed Hope for Ripple
The recent passage of the bipartisan “Cryptography and Blockchain Technology Act” by the United States House Committee on Financial Services has sent shockwaves throughout the cryptocurrency community. This development has sparked renewed hope for Ripple (XRP), a digital asset that has faced significant scrutiny from regulatory bodies, particularly the US Securities and Exchange Commission (SEC).
The newly proposed bill aims to provide a clear framework for regulating cryptocurrencies, including XRP, within the financial system. This move is seen as a major breakthrough, as it could potentially pave the way for Ripple’s reclassification under federal securities laws.
Ripple has been embroiled in a contentious legal battle with the SEC since December 2020, when the regulatory body filed a lawsuit alleging that XRP was an unregistered security. The court case has been ongoing, and the latest development may signal a turning point in this dispute.
The proposed legislation would exempt certain types of digital assets, including those used for settlement purposes, from securities regulations. This could have significant implications for Ripple’s status, as it is primarily designed for cross-border payments and settlements.
While the bill still needs to be voted on by both chambers of Congress and signed into law by the President before it can take effect, this development has already generated a lot of excitement within the crypto community.
XRP enthusiasts are hopeful that this pro-crypto legislation could lead to a favorable outcome for Ripple’s ongoing legal battle. This could potentially unlock new avenues for the asset’s use cases and growth prospects.
The 24-hour XRP price chart is currently showing a slight pullback, but market analysts predict this could be a temporary correction as investors begin to digest the implications of this proposed legislation.
**Ripple Wallet Tutorial:**
For those interested in getting started with Ripple, we have put together a comprehensive guide on how to set up and use an XRP wallet. You can access the tutorial by clicking here [Insert link].
**Check 24-hour XRP Price:**
To stay up-to-date with the latest market fluctuations and analysis, you can check the current XRP price chart below.
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Stay tuned for further updates on Ripple (XRP) as this story continues to unfold.
Source: www.crypto-news-flash.com
