\n<\/p>\n
San Francisco-based FinTech firm Ripple<\/a> recently explained \u201chow existing financial regulatory frameworks can be used In a three page document <\/a>published by Ripple, the Californian firm described its \u201cvision of a pragmatic regulatory framework for cryptocurrencies, blockchain-enabled payments and digital assets.\u201d Ripple mentioned that it hopes for \u201ca regulatory framework that encourages the unleashed potential of cryptocurrency and blockchain technologies, while also establishing important consumer and market protections.\u201d<\/p>\n Ripple believes that \u201cany legislation or policy framework intended to regulate cryptocurrencies should promote an active dialogue between regulators and market participants\u201d since such \u201cpublic-private collaboration\u201d should \u201clead to more tailored and effective policy outcomes for the industry and consumers alike.\u201d<\/p>\n Furthermore, according to Ripple, \u201cU.S. financial markets are considered first in class and that is due in part to the existing regulatory framework under which they operate.\u201d They say that this framework \u2014 providing it was \u201cadapted\u201d to \u201caccount for some of the unique attributes inherent to cryptocurrencies \u2014 could \u201cprovide the clarity innovators seek \u2013 and the market protections consumers deserve.\u201d <\/p>\n –><\/p>\n –><\/p>\n They then go on to give examples of two existing legislative proposals in this area: \u201cthe Securities Clarity Act (SCA)\u201d and \u201cthe Digital Commodity Exchange Act (DCEA, H.R. 8373 in the 116th Congress).\u201d<\/p>\n Ripple\u2019s conclusion is that \u201ceach of the above proposals \u2013 whether implemented separately or together \u2013can succeed in keeping industry within the U.S. while also maintaining the strong consumer and investor protections that have made American capital markets the best in the world.\u201d<\/p>\n The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n Photo<\/a> by \u201cvjkombajn<\/a>\u201d via Pixabay.com<\/a><\/em><\/p>\n<\/p><\/div>\n
to advance innovation and enhance consumer and market protections.\u201d<\/p>\n
\n <\/p>\n
\n <!–<\/p>\n
\n <!–<\/p>\nDisclaimer<\/h2>\n
Image Credit<\/h2>\n