US Lawmakers Call on Congress to Pass Crypto Bills Following SEC v Ripple Ruling
US lawmakers are urging Congress to pass legislation to regulate the crypto industry and uphold the court ruling in the SEC v. Ripple case. The ruling has sparked the need for legislative clarity in the digital asset ecosystem.
- Chairmen of the House Financial Services and Agriculture Committees call for clear rules and market structure legislation
- They emphasize the need for equal protections for all investors and market participants
- Recognition that digital assets may not be inherently securities, but can be offered as investment contracts
- Criticism of SEC chairman for regulating through enforcement and calls to remove him
- Urgency to advance digital asset market structure bill and pass Responsible Financial Innovation Act
US Senator Cynthia Lummis also supports the ruling and urges Congress to pass the Lummis-Gillibrand Responsible Financial Innovation Act. She emphasizes the need for a clear regulatory structure and consumer protection.
Congressman Tom Emmer views the Ripple case as a significant step in establishing tokens as separate from investment contracts and calls for it to be made into law.
Hot Take
The ruling in the SEC v. Ripple case has ignited a call for legislation in the crypto industry. Lawmakers are urging Congress to provide clear rules and market structure legislation to ensure equal protections for all participants. The decision also highlights the need for a regulatory structure that prioritizes consumer protection. It remains to be seen how quickly Congress will respond to these calls, but the momentum is building for greater clarity and regulation in the digital asset ecosystem.
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