Ripple expressed its intention to work with the US Congress to create proactive cryptocurrency regulations that protect the investors and the innovations within the rising industry.
This intention began with US SEC Chair Gary Gensler calling the cryptocurrency industry the “wild wild west”. In response to this, Ripple Head of Public Policy Susan Friedman expressed the company’s intention to work with the government in creating proper regulations for this sector.
These events were also in response to the current lawsuit between this cryptocurrency and the US Securities and Exchange Commission.
According to Cryptolaw founder John Deaton, this decision is of vital importance not only for the company but for the fate of the presence of cryptocurrency in the US. Deaton called this decision the “biggest decision in the lawsuit”, which he expects to happen soon.
Traders and investors are starting to believe that the US Securities and Exchange Commission is merely performing delaying tactics in lack of sufficient evidence to hold their claim. Ripple believes that the US SEC provides misleading information in the prior actions against cryptocurrencies.
Furthermore, Deaton also believes that Ripple can win the case when the court produces the notes. Ripple CEO Brad Garlinghouse is confident that XRP was not unregistered security during the meeting with former SEC Commissioner Elad Roisman.
Despite these recent events, traders and investors are still unsure of the future of this altcoin.