Ripple general counsel urges U.S.lawmakers to urgently pass 'sensible' encryption legislation

[Ripple's general counsel urges U.S. lawmakers to urgently pass "sensible" encryption legislation] On July 30th, Ripple's general counsel Stuart Alderoty emphasized the importance of sensible cryptocurrency legislation in a commentary published recently.

During a House Financial Services subcommittee hearing on investor protection, Congressman Brad Sherman urged the US SEC to investigate major cryptocurrency exchanges that trade XRP, Alderoty emphasized: “Sherman’s outrageous remarks underscore the urgent need for sensible crypto legislation in Washington. "

Alderoty pointed out: "Sherman knows that the SEC cannot determine that XRP is a security. He knows that no country in the world has recognized XRP as a security. He knows that this issue needs to be decided in court." He further added that whether XRP is a security has yet to be determined. OK, saying, “The decision will be made by the courts.” (Bitcoin.com)

Other news:

SBI plans to use Ripple's payment technology to boost Japanese bank ATMs: Jinse Finance reported that Japanese financial giant SBI Holdings plans to use Ripple's payment technology to make it easier for Japanese users to use ATMs. In its latest annual financial report, SBI said the company is working on integrating its Ripple-powered settlement app MoneyTap with ATMs operated by various banks across the country. SBI pointed out that the plan may also improve the bank's own profit and loss position by reducing operating costs. [2020/5/14]

Voice | Ripple Government Relations Manager: Many candidates in the 2020 U.S. election support the Token Taxonomy: According to ambcrypto, Ripple government relations manager Ron Hammond said that many candidates in the 2020 U.S. election support the Token Taxonomy Law, and said that the dialogue between lawmakers on the industry is indeed a big step forward in the field of cryptocurrency and digital assets. According to previous news, U.S. Congressman Warren Davidson proposed the "Token Classification Act", which aims to exclude cryptocurrencies from securities laws. [2019/11/3]

News | Ripple transferred a total of about 110 million XRP to unknown wallets this morning: According to whale_alert monitoring, between 2 am and 6 am today, Ripple wallets transferred 20,000,000 XRP, 30,000,000 XRP, 50,175,722 XRP, and 10,000,000 XRP to unknown wallets, totaling 110,175,722 XRP (about 30 million USD). [2019/8/23]