Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Cryptocurrency enthusiast, Mr. Huber took to his Twitter handle and posed a very important question to the community–Why is regulatory clarity still lacking in the US? However, he also simplified the situation and gave an answer: He drew parallels to alleged allegations that certain Ethereum investors attempted to influence the SEC through bribery.
He took a trip down memory lane when the SEC sued Ripple. At that point, lots of people thought the rules were super clear. But things have changed since then. More people are on Ripple’s side now. He asked ‘Why?’ Mr Huber continued and said that Ripple pointed out something important.
They showed that Ethereum’s clarity might have been influenced by questionable dealings with the SEC. This makes people wonder if the rules are as solid as they seemed.
The current situation appeals to both crypto enthusiasts and critics, doesn’t it? It’s a step closer to mainstream recognition, providing banks with a workable framework. However, it also underscores the need for caution.
Why is there still no regulatory clarity in the US? It's simple: Because of Ethereum investors who bribed the SEC. People thought there was clarity because the bribed SEC officials let them believe there is. Remember when the SEC filed it's lawsuit against Ripple? Everyone said…
There’s regulatory clarity in key regions like Japan, Singapore, the UK, Switzerland, and the UAE, where XRP is deemed a currency. However, in the US, the lack of regulatory clarity over the past ten years has hindered the crypto market’s growth potential.
Brad Garlinghouse of Ripple had opened up about the lack of clarity in the US. In an interview with CNBC, Brad said, “I give credit to markets like Singapore and even parts of Korea where there really has been a thoughtful government-led effort to define and have clear regulatory frameworks around cryptocurrencies. Ironically, here in the United States, they have not provided that same clarity. It is the only country on the planet that has said XRP is anything other than a currency.”