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Ripple CEO Reacts to SEC Acknowledging XRP ETF Proposal
The Securities and Exchange Commission (SEC) has recently reduced its enforcement efforts related to cryptocurrencies, which may have a significant impact on the approval process of an XRP ETF. Bloomberg analysts previously estimated that there was a 65% chance of an XRP ETF being approved this year, but these odds are likely to increase after the agency’s recent acknowledgment.
The news has sent shockwaves through the crypto community, with many speculating about the potential implications for Ripple and its XRP token. However, Ripple CEO Brad Garlinghouse remains cautious in his assessment of the situation.
“We’re grateful that the SEC is taking a more nuanced approach to cryptocurrency regulation,” Garlinghouse said in an exclusive interview with U.Today. “However, we still need to see concrete actions from the agency to demonstrate their commitment to allowing innovation and competition in the crypto space.”
The CEO also emphasized the importance of ensuring regulatory clarity for investors and market participants alike.
“It’s crucial that we have a clear understanding of what is and isn’t acceptable in terms of cryptocurrency ETFs,” he stated. “Only then can we start building a more sustainable and trustworthy ecosystem.”
Meanwhile, pro-XRP lawyer Jeremy Hogan has predicted that the approval process could take up to a year, which may put pressure on Ripple’s management to reevaluate their strategy.
In related news, the SEC has delayed its decision on BlackRock’s Ethereum ETF options, further fueling speculation about an impending shift in regulatory stance. Despite these developments, it remains to be seen how the agency will ultimately decide on pending proposals like the XRP ETF.
As always, we’ll keep a close eye on this story and bring you updates as more information becomes available.
Source: u.today
