Ripple (XRP) CEO Brad Garlinghouse met with unnamed members of the US Congress on September 19 to discuss issues surrounding regulatory clarity of the crypto industry.
In a September 19 post on social media platform
“Back in DC today to meet with members of Congress,” Garlinghouse said. “I can’t get clarity on the regulations without actually talking to the elected officials who are proposing bills!”
Garlinghouse did not provide names of the lawmakers they met or additional details about their discussions.
In the meantime,
Ripple’s Chief Legal Officer Stuart Alderoty via an after also confirmed a visit to the US Supreme Court. According to him, checks and balances should not be abandoned pending regulatory clarity.
“While the industry awaits clarity on legislation from Congress, we must always be able to count on checks and balances.”
Visits SEC office
In a separate post, Garlinghouse posted a photo of himself and Aldeorty for the U.S. Securities and Exchange Commission (SEC).
Garlinghouse’s post stated that Ripple executives had not met with SEC Chairman Gary Gensler. However, it is unclear whether they met another Commission official.
Meanwhile, the now-viral post has racked up over 10,000 likes and been viewed over 755,000 times on the X platform in the last 13 hours.
US regulatory efforts
Garlinghouse’s presence in DC followed the company’s partial victory against the SEC in July, when Judge Analisa Torres ruled that Ripple’s sale of XRP to the general public and its token distributions do not constitute an offer and sale of an investment contract. The financial regulator has requested summary proceedings over the crypto company’s victory.
Meanwhile, the U.S. regulatory environment for the emerging industry remains largely hazy. Financial regulators, the SEC and the Commodity Futures Trading Commission (CFTC) have taken several enforcement actions against major crypto companies such as Binance and Coinbase.
Additionally, several US lawmakers are working on several pieces of legislation designed to bring clarity to digital asset regulations. Recently, Senator Elizabeth Warren’s bipartisan anti-money laundering bill received support from other lawmakers.
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