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Will XRP Finally Get Legal Clarity? Ripple CEO Testifies in Congress Next Week
In a significant development, the US Congress has scheduled a hearing on crypto market structure next week, with industry leaders set to testify. One of the key speakers will be Brad Garlinghouse, the CEO of Ripple, who is expected to provide crucial insights into the legal landscape surrounding XRP.
The upcoming committee session aims to enhance crypto market structure and define how digital assets are classified and regulated. The hearing is a significant step towards shaping the future of cryptocurrency in the US.
The CLARITY Bill and GENIUS Act will be two key focuses during the session. The former seeks to create a regulatory framework for separating digital commodities from securities, an issue that has long been debated between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
On a related note, Ripple has recently been in a legal battle with the SEC, which has led to some clarity regarding XRP sales. However, the crypto exchange still lacks complete legal clarity.
As part of the hearing, Garlinghouse’s testimony is expected to provide valuable insights into the current state of affairs. His unique perspective as the CEO of Ripple will be instrumental in helping lawmakers make informed decisions regarding cryptocurrency regulations.
The US is currently embracing innovation by regulating cryptocurrency and other digital assets. It has also scheduled a ‘crypto week’ in July to welcome new legal structures for crypto.
The upcoming hearing could lead to a breakthrough in regulatory clarity for XRP, potentially paving the way for further growth and mainstream adoption of the digital asset.
Source: coinpedia.org
