Senator Lummis Urges Clear Crypto Regulation After XRP Ruling
The outcome of the case could set a precedent that will shape the regulatory landscape for digital assets in the United States.
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United States Senator Cynthia Lummis took to Twitter to highlight the significance of a recent court ruling by Judge Analisa Torres, who said that Ripple's XRP (XRP) token should not not be considered a security when sold on digital asset exchanges. Lummis noted that the decision underscores the urgent need for Congress to establish a comprehensive and unambiguous regulatory framework for cryptocurrencies.
In his statement, Lummis highlighted the significance of the court ruling and its impact on cryptocurrency regulation. She said the verdict reinforces the immediate requirement for Congress to provide a comprehensive encryption framework that prioritizes consumer protection.
The senator from Wyoming, who is a longtime bitcoin (BTC) advocate, stressed the importance of a transparent cryptocurrency framework that would protect investors and foster innovation within the industry cryptocurrency.
In addition, Lummis stressed the importance of maintaining the Howey Test, the legal standard used to assess whether an investment qualifies as a security. She specifically referenced the Responsible Financial Innovation Act, known as the Lummis-Gil Act...
The outcome of the case could set a precedent that will shape the regulatory landscape for digital assets in the United States.
News
Join us on social networks
United States Senator Cynthia Lummis took to Twitter to highlight the significance of a recent court ruling by Judge Analisa Torres, who said that Ripple's XRP (XRP) token should not not be considered a security when sold on digital asset exchanges. Lummis noted that the decision underscores the urgent need for Congress to establish a comprehensive and unambiguous regulatory framework for cryptocurrencies.
In his statement, Lummis highlighted the significance of the court ruling and its impact on cryptocurrency regulation. She said the verdict reinforces the immediate requirement for Congress to provide a comprehensive encryption framework that prioritizes consumer protection.
The senator from Wyoming, who is a longtime bitcoin (BTC) advocate, stressed the importance of a transparent cryptocurrency framework that would protect investors and foster innovation within the industry cryptocurrency.
In addition, Lummis stressed the importance of maintaining the Howey Test, the legal standard used to assess whether an investment qualifies as a security. She specifically referenced the Responsible Financial Innovation Act, known as the Lummis-Gil Act...
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