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Securities Clarity Act Could Boost Cryptos Like XRP – Crypto Gazette

Bitcoin Price Stagnant (Sunday’s Market Watch)

October 4th 2020

Ripple and XRP have been making many headlines lately, and now XRP is in the spotlight.

According to the latest reports, Congressman Tom Emmer introduced the Securities Clarity Act, which is aiming to provide regulatory clarity for digital assets and blockchain networks.

Introducing Securities Clarity Act

This bill would eliminate “fear of additional regulatory uncertainty” for companies that are hoping to distribute digital assets.

This will happen “as long as they have complied with current securities registration requirements or qualified for an exemption,” according to a press release from Emmer’s office.

The online publication the Daily Hodl notes that the new legislation still may not clear up the classification of crypto assets such as XRP.

All kinds of suppositions have surrounded the digital asset as to whether it’s a security or not.

Jake Chervinsky, the general counsel at Compound, posted the following on Twitter.

He also said: “. . . so it wouldn’t impact any arguments about whether XRP itself represents an investment contract at the time of sale (Ripple’s promises, purchasers’ expectations, etc.). That is, it should be irrelevant to In re Ripple’s class claims. I’m curious why you think it applies?”

Check out more details on this in the original article by the Daily Hodl. In other recent news, it’s been revealed that Bharath Chari, the spokesman of the newly founded XRP Ledger Foundation (XRPLF), which was established on September 24, denied rumors in an interview with Forbes that Ripple will not invest in the development of the XRP Ledger in the future.

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XRP vi.be Editor

XRP vi.be Editor

Editor at XRPvi.be, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the ‘source’ link you can visit the originating place of the content.

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