Monica Long, the President of Ripple, did not hold back in criticizing the U.S. Securities and Exchange Commission (SEC) and its approach to regulating the cryptocurrency industry during her speech at the Money20/20 fintech conference in Amsterdam. Long expressed frustration with the SEC’s enforcement-focused regulatory tactics, which she believes hinder progress rather than facilitate it.
She highlighted how the cryptocurrency sector, along with the Fairshake Super Political Action Committee (PAC), has been supporting political candidates who align with their goals of advancing favorable legislation for the industry. Long emphasized that Fairshake is a bipartisan organization that only endorses politicians who understand and support the regulatory needs of the sector. With contributions totaling $25 million from Ripple, a16z, and Coinbase, Fairshake is well-positioned to influence policy decisions.
Despite facing increased scrutiny from regulators, including lawsuits from the SEC against companies like Ripple, Coinbase, and Kraken, the cryptocurrency industry is actively engaging in shaping legislative frameworks. Long acknowledged the challenges posed by regulatory hurdles but remained optimistic about the industry’s ability to push for more favorable regulations.
In terms of market performance, XRP’s price currently stands at $0.5241, having experienced a slight decrease of 0.80% in the past day but showing a bullish trend with a 1.32% increase over the previous week. Additionally, Long hinted at the upcoming launch of an XRP ETF and announced a partnership between Ripple and Clear Junction to enhance cross-border payment capabilities in Europe.
For more information on Ripple (XRP) and the latest news and developments in the industry, be sure to check out the recommended resources and guides available.