Ripple (XRP) CEO Brad Garlinghouse, in his statement today, said in a statement that comprehensive coverage supported by both Democratic and Republican politicians in the USA. cryptocurrency He talked about the regulation bill.
The bipartisan cryptocurrency regulation bill aims to give oversight of cryptocurrencies to the US Commodity Futures Trading Commission (CFTC) instead of the SEC.
With the bill called the Digital Commodity Exchange Act (DECA), crypto assets can be classified as commodities rather than securities.
As it is known, discussions about what kind of assets cryptocurrencies are continues, and these discussions actually form the basis of the ongoing lawsuit between the SEC and Ripple.
Ripple CEO Garlinghouse Wants CFTC to Have Cryptocurrency Regulatory Authority
These comments from the Ripple CEO did not come as a surprise due to the ongoing lawsuit between his company and the SEC.
In his past statements, Garlinghouse criticized the SEC for allegedly obstructing cryptocurrency regulation and accused the SEC of hypocrisy for some of its practices.
Garlinghouse, in his statement on Twitter, said the following on the subject:
It is exactly what we need that Congress take the lead with the two parties on the regulation of cryptocurrencies.
The DCEA is back in action! 📣
Congress taking a bipartisan leadership stance on regulatory clarity for crypto is EXACTLY what we need. https://t.co/aYjRKeFXdx
— Brad Garlinghouse (@bgarlinghouse) April 30, 2022
The DECA bill presented was one of the rare moments when both parties were able to work together, putting aside their differences, with support from both Democratic and Republican representatives.
According to experts, this move also seems to be in line with the nature of cryptocurrencies, which have a decentralized structure as well as being out of politics.
*Not investment advice.