Monica Long, the President of Ripple, did not hold back in her criticism of the SEC’s treatment of the cryptocurrency industry during the Money20/20 conference. She expressed her frustration with the SEC’s enforcement-heavy approach to regulation, which she believes is hindering progress in the sector.
Long highlighted the efforts of the cryptocurrency industry and the Fairshake Super PAC in supporting political candidates who are sympathetic to the needs of the industry. The bipartisan Fairshake PAC, along with contributions from a16z and Coinbase, received a $25 million boost from Ripple, as reported by Crypto News Flash.
Despite facing regulatory challenges and lawsuits from the SEC, Ripple remains committed to influencing legislative decisions in the United States. The recent reversal of the SEC’s SAB 121 regulation by Congress, which was later vetoed by President Biden, showcases the industry’s efforts to shape regulations in its favor.
While the SEC continues its crackdown on the cryptocurrency sector, Long remains optimistic about a potential shift in regulatory attitudes towards the industry. She believes that the U.S. cryptocurrency sector has the power to sway legislative decisions in its favor.
On the market front, XRP’s price is currently at $0.5241, showing a slight decrease of 0.80% in the last day but a bullish trend with a 1.32% increase over the previous week. Long also hinted at the upcoming release of an XRP ETF and Ripple’s collaboration with Clear Junction to enhance cross-border payment capabilities in Europe.
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