Ripple’s President, Monica Long, expressed strong criticism towards the U.S. Securities and Exchange Commission (SEC) during her speech at the Money20/20 fintech conference in Amsterdam. She highlighted the frustrations within the cryptocurrency sector regarding the SEC’s enforcement-focused regulatory approach, which she deemed as ineffective and hindering progress.
Long emphasized the support from the crypto industry and the Fairshake Super Political Action Committee (PAC) for political candidates advocating for favorable laws for the sector. The bipartisan Fairshake PAC, along with contributions from Andreessen Horowitz (a16z) and Coinbase, recently received a $25 million boost from Ripple, as reported by Crypto News Flash.
Despite facing legal challenges, Ripple continues to have a significant impact on legislative decisions amidst heightened regulatory scrutiny. The sector is actively engaging in shaping American laws to address issues such as the SEC’s controversial Staff Accounting Bulletin 121 (SAB 121), which could adversely affect the crypto industry.
Monica Long remains optimistic about the future of the U.S. cryptocurrency sector, despite the regulatory challenges. She acknowledged the recent aggressive actions by the SEC against the industry but sees potential for a positive shift in regulatory attitudes.
In terms of market performance, 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.
For more information on Ripple (XRP), including guides, tutorials, price checks, and news updates, visit the recommended links below.