Ripple CEO Optimistic About Crypto Market Structure Bill
Analysis
Price Impact
MedInitial optimism from ripple's ceo about a market structure bill was positive for xrp, but the subsequent scrapping of the markup due to internal debates and industry revolt, particularly concerning stablecoins, means regulatory clarity remains elusive, causing continued uncertainty.
Trustworthiness
HighThe report details direct statements from ripple's ceo and official committee actions, making the information factual and well-sourced.
Price Direction
NeutralWhile ripple's ceo expressed optimism, the indefinite delay of the market structure bill's markup due to unresolved issues means regulatory clarity for the crypto market is still far off. this sustained ambiguity typically weighs on prices, but it's not a new negative development, rather a continuation of the current state.
Time Effect
LongRegulatory clarity, or the lack thereof, has long-term implications for the crypto industry's growth and adoption. delays in such legislation perpetuate long-term uncertainty.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Ripple CEO Brad Garlinghouse has thrown his weight behind Senator Tim Scott’s market structure proposal. Advertisement He has called it a "massive step forward" for the industry. Garlinghouse’s support is rooted in Ripple’s own scars from years of regulatory ambiguity. HOT Stories Ripple CEO Optimistic About Crypto Market Structure Bill Crypto Market Review: XRP Market Anomalies, Ethereum at $3,300 Inflection Point, Shiba Inu Trillion-Unit Potential Kashkari: Crypto Is ‘Basically Useless’ U.Today Crypto Digest: XRP Jumps 1,122% in Liquidation Imbalance, Peter Brandt Predicts Historic Bitcoin Breakout, Ethereum Holder Bitmine Hits $14 Billion Milestone “Ripple (and I) know firsthand that clarity beats chaos, and this bill’s success is crypto’s success,” he said. Advertisement As reported by U.Today, the bill recently saw a total of 137 amendments, and there are intense debates happening behind closed doors. The Ripple boss has indicated that the company remains "at the table" instead of simply walking away. The Ripple boss is “optimistic that issues can be resolved through the mark-up process.” Garlinghouse praised the bill for finally providing "workable frameworks for crypto, while continuing to protect consumers." Advertisement Markup officially scrapped The Senate Banking Committee has officially pulled the market structure markup scheduled for tomorrow. The decision to scrap the session follows a public revolt by Coinbase, whose CEO Brian Armstrong. The lawmakers were unwilling to proceed with a bill that had turned toxic in the eleventh hour. The flurry of amendments failed to bridge the gap between the anti-stablecoin banking lobby and the crypto lobby. Senate staffers will likely retreat to closed-door negotiations. #Ripple News #Brad Garlinghouse