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Ripple Proposes Real Approach to Cryptocurrency Regulation’s

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by Kevin Helms
Ripple has published a proposal for a regulatory framework for cryptocurrencies called “A Real Approach to Cryptocurrency Regulation.” CEO Brad Garlinghouse explained that his company’s “proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of Ripple’s “direct interactions with regulators and bipartisan policymakers.”
Ripple published a proposed regulatory framework for cryptocurrencies Tuesday. The proposal is the company’s “vision for how existing financial regulatory frameworks can be used to advance innovation and enhance consumer and market protections,” Ripple detailed, elaborating:
Today, we were proud to release our vision for ‘A Real Approach to Cryptocurrency Regulation,’ a framework designed to offer an immediate and pragmatic approach to cryptocurrency and digital asset regulation in the United States.
The company explained that it believes “the best public policy outcomes can be achieved by public-private collaboration, adapting existing regulatory frameworks, and fostering crypto innovation sandboxes.” These are three key recommendations outlined in the proposal.
“Ripple believes that our proposal will ensure the U.S. succeeds in nurturing crypto innovation within its borders while also maintaining the strong consumer and investor protections it’s known for,” the company wrote.
Brad Garlinghouse, Ripple’s CEO, described:
Our proposed policy framework is a three-pronged approach of what can be done now to provide clarity to one of the fastest-growing industries in the U.S. It’s also the result of our direct interactions with regulators and bipartisan policymakers.
“The crypto industry is stepping up to the plate for public-private collaboration on policy – no question about it – and we will continue to seek to work together on the optimal path forward,” he added.
“All of the proposed measures discussed in this framework seek to provide legal clarity to industry, markets, and consumers in a way that an ad hoc, regulation-by-enforcement approach simply cannot,” Ripple concluded. The proposal can be found here.
The U.S. Securities and Exchange Commission (SEC) has been criticized for taking an enforcement approach to crypto regulation. SEC Commissioner Hester Peirce criticized her own agency in August for taking this approach to regulating the crypto sector after the SEC announced an enforcement action against cryptocurrency exchange Poloniex. Many people have also asked the SEC for more clarity on crypto regulation but to no avail.
Meanwhile, Ripple is still in an ongoing lawsuit with the SEC. The securities regulator sued the company, CEO Garlinghouse, and co-founder Christian Larsen over the sale of XRP which it considers a security offering.
Ripple is not the only one that has come up with a proposal for crypto regulation. The Nasdaq-listed cryptocurrency exchange Coinbase has also proposed a crypto framework, with four key recommendations. CEO Brian Armstrong has been meeting with regulators to convince them that the U.S. should have just one single federal regulator overseeing the crypto space. Currently, Coinbase said it has 53 regulators in just the U.S.
On Tuesday, Binance also called for global regulatory frameworks for crypto markets. The exchange launched an ad campaign titled “Crypto Is Evil,” featuring “10 Fundamental Rights for Crypto Users.”
What do you think about Ripple’s proposal for crypto regulation? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
DCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks
Foundry, the Digital Currency Group (DCG) subsidiary and cryptocurrency mining and consulting firm from Rochester, New York announced the launch of a new platform on Wednesday called Foundry Staking. The company says the product currently supports 20 blockchain networks and … read more.
DCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks
Foundry, the Digital Currency Group (DCG) subsidiary and cryptocurrency mining and consulting firm from Rochester, New York announced the launch of a new platform on Wednesday called Foundry Staking. The company says the product currently supports 20 blockchain networks and …

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Bitcoin Is '100 Times Better Than Gold,' Michael Saylor Says – Here's Why | Bitcoinist.com – Bitcoinist

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Bitcoin and gold are both valuable assets that can be used to protect against inflation; nevertheless, there are important differences between the two in terms of their history, accessibility, and other sources of demand.
Gold, undoubtedly, has a lengthy history and solid basis, while Bitcoin has barely more than a decade of existence to prove its worth as an inflation hedge.
In November of last year, the price of a single BTC soared beyond $65,000, setting a new record high. This increase was related to the introduction of a Bitcoin exchange traded fund in the United States; while others during the year were due to events involving Tesla and Coinbase, respectively.
As of this writing, BTC is trading at $$19,058.84, down 5.5% in the last seven days, data from Coingecko show, Sunday.
Despite the fact that BTC has lost over 73% of its value since its all-time high in 2021, crypto bull and MicroStrategy co-founder and CEO Michael Saylor is unfazed.
Not only does he think the digital coin will regain its former glory, but he also thinks the cryptocurrency has a lot of room to grow beyond its current high point.
While the value of the most popular cryptocurrency in the world has been falling in recent weeks, MicroStrategy has been buying the dip. With 130,000 BTCs in its vault, it is sitting on nearly $4 billion of the crypto.
“I think that the next logical stop for Bitcoin is to replace gold as a non-sovereign store of value asset and gold is a $10 trillion asset as we speak. Bitcoin is digital gold, it’s 100x better than gold,” Saylor said during the Money Festival hosted by MarketWatch on Wednesday.
Bitcoin has a market cap of around $365 billion, according to data by TradingView on Sunday.
And during the festival’s Best New Ideas segment, Saylor didn’t hold back when he predicted the crypto’s price tag may reach $500,000 within the next decade.
“The half-life of money in crypto is forever. You can move it on billions of computers at the speed of light. So if Bitcoin goes to the value of the yellow metal, it’s going to $500,000 per coin, and I think that happens this decade,” Saylor pointed out.
According to MarketWatch, Saylor has around 17,732 Bitcoins that he purchased for around $9,500. Meanwhile, MicroStrategy’s stock price has fallen almost 65% this year, just like Bitcoin.

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Cryptocurrency prices today under pressure: Bitcoin falls 3%, ether 6%; Uniswap gains | Mint – Mint

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  • The global cryptocurrency market cap today remained below the $1 trillion mark

Cryptocurrency prices today came under pressure after the US Federal Reserve delivered another big interest-rate hike and warned of economic pain from the aggressive policy tightening still to come. The Fed’s determination to raise rates to levels that hammer inflation at the cost of sliding asset prices sent a chill across global markets.
Bitcoin, the world’s largest and most popular cryptocurrency, was trading more than 2% lower at $18,627, came close to dropping below $18,000 level. The global crypto market cap today remained below the $1 trillion mark, as it was down over 2% in the last 24 hours at $943 billion, as per CoinGecko. On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, continued to underperform and fell more than 6% at $1,260.
“Bitcoin, Ethereum, and most cryptocurrencies traded lower on late Wednesday after the Federal Reserve raised interest rates by 75 basis points marking the third consecutive time this year. BTC continues to struggle below the $19,000 since bears are more powerful than bulls in the market. The second largest crypto, Ethereum was seen changing hands above the $1,200 level. The price of ETH has been dipping since the Merge took place as miners continued to dump their ETH in the market coupled with macroeconomic factors. If the selling pressure from miners increases, ETH is likely to fall below the $1,000 level,” said Edul Patel, CEO and Co-founder of Mudrex.
Meanwhile, dogecoin price today was also trading about 3% lower at $0.05 whereas Shiba Inu slipped more than a per cent to $0.000011. Other crypto prices’ today performance also declined as XRP, Stellar, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Chainlink, Tron, Tether prices were trading with cuts over the last 24 hours, whereas Uniswap gained.
Such a backdrop offers little respite for crypto markets. They were already reeling from a $2 trillion plunge from a 2021 record high, an unraveling pockmarked with blowups such as the Three Arrows Capital hedge fund and the Terraform Labs project — whose co-founder Do Kwon is wanted by authorities.
(With inputs from agencies)
 
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Bitcoin's Accumulated Momentum Is Going To Be Hard To Stop – Bitcoin Magazine

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While "the smartest people in the room" scan the horizon, bitcoiners are out there actually building the future they want to live in.
The below is a direct excerpt of Marty's Bent Issue #1259: "Bitcoin is action. The accumulated momentum is going to be hard to stop." Sign up for the newsletter here.
This morning I listened to a recent Macro Voices podcast with Brent Johnson from Santiago Capital. It was a very good conversation about the state of the global economy, particularly focused on the dollar's relative strength against other currencies and how things may play out as the dollar continues to strengthen as prophesied by the "Dollar Milkshake" theory. Here's a link to the episode for those interested.
Toward the end of their discussion Erik (the host) and Brent make it clear without saying anything explicitly that it is insane that global markets are essentially beholden to the whims of a very select few people, central bankers, out of the billions who are alive on this planet. The fact that the world hinges on the cryptic language of people who are completely disconnected from reality and do not suffer the consequences of their actions is a bit baffling. With that being said, what I'd like to focus on is the fact the Erik and Brent ended their conversation with a brief detour to discuss the next world reserve currency. Both gentlemen acknowledged that it would likely be a cryptocurrency – likely produced by one of the governments or a coalition of governments – and will certainly not be bitcoin.
To your Uncle Marty, this is an incredibly hilarious line of thinking from a couple of individuals who seem to "get it" in regards to the fact that the fiat system is doomed for failure and it's failure is being driven by incompetent central planners. To think that the solution to bad central planning from an incompetent group will be better central planning from the same group via a fresh slate a CBDC or something like it would provide. Even funnier is the fact that they emphatically proclaim that bitcoin most certainly will not become the dominant money in the world while deriding "bitcoin maximalists". This is our edge, freaks.
While "the smartest people in the room" scan the horizon waiting to place their bets on something that hasn't materialized yet and is sure to end in failure if it ever does because it will suffer from the same centralized attributes that doomed the dollar, bitcoiners are out there actually building the future they want to live in. The macro mensches of the world can continue to sit on the sideline and pontificate about what they think will come to market. Bitcoiners will continue to act and bring their distributed, censorship resistant, sound money to market. And the headstart bitcoin has amassed is approaching insurmountable. It is a step-function improvement on the incumbent monetary system in every way.
It's provably scarce and extremely hard to change.
You can send it over the internet.
You can divide more granularly.
It is extremely hard to prevent someone from receiving or sending bitcoin if used correctly.
And, what might be the most underappreciated aspect, it is beginning to become an integral part of the energy sector. And as we're finding out now energy is pretty damn important. Arguably the most important asset on the planet. Bitcoin becoming an essential for energy producers makes it significantly harder to kill from a logistical and political perspective.
We are so early.

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