Ripple CEO Brad Garlinghouse has voiced his optimism concerning the prospects of reaching regulatory readability for cryptocurrency within the US in 2023 in a latest Twitter thread.
Commenting on the primary day of the 118th Congress, Garlinghouse pointed to payments such because the Securities Readability Act, the Cryptocurrency Facilitation for Traders and Digital Belongings Act (RFIA), and the Clarification for Digital Tokens Act.
Whereas no invoice has been capable of fulfill everybody’s expectations up to now, Garlinghouse believes that this may very well be seen as a possibility fairly than a hindrance – these proposals can present greater than a place to begin for debate in Congress.
Garlinghouse talked about that different international locations have established crypto frameworks, like Singapore, the EU, Brazil, and Japan, that are forward of these within the US when it comes to laws and regulation. The dearth of coordinated requirements globally is forcing companies to locations with decrease boundaries, typically with disastrous penalties.
Nations with extra complete rules are luring cryptocurrency companies away from the U.S.
It stays to be seen whether or not 2023 seems to be the defining 12 months for crypto regulation now that some lawmakers calling for cracking down on crypto in gentle of the FTX collapse.