Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace.
To that end, today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before—and replacing the grey of uncertainty created by custody rules crafted for a bygone era.
1/ This one stings. Our team gave everything we had to get the Clarity Act across the finish line. So did most of the industry. This was an opportunity bigger than Ripple or one company - we did this for the industry, for consumers and to cement the US’s position as the crypto capital of the world and as a leader in the future of finance. Ultimately, consumers and U.S. competitiveness got left behind.
2/ A post mortem needs to be done on why this failed (more from me on that in the days ahead). The politics of the democrats (the anti-crypto army) was elevated over good policy.
3/ There is still reason for optimism for crypto in the United States. Now, the SEC, under Chair Atkins, and the CFTC, under Chair Selig, will continue to work hard to issue rules to fill the legislative gap and we will continue to be actively engaged in that rule making process.
4/ Ripple's business has never been stronger — real demand across traditional finance and the digital asset ecosystem. A missed vote in Washington doesn't change our momentum, our global footprint, or our customers.
XRP could reach $1.88–$2 within 2 days based on the 13 November 2024 pattern.
I will not post on X again until they restore my blue check mark. ⁽ⁿᵒᵗ ᶠⁱⁿᵃⁿᶜⁱᵃˡ ᵃᵈᵛⁱᶜᵉ ᵇᵘᵗ ʲᵘˢᵗ ᵐʸ ᵗʰᵒᵘᵍʰᵗˢ ᵒⁿˡʸ⁾
Jeremy Clarkson announces he has cancer and has known about it since May
"I've got cancer. Where is of no concern of anybody. I've known since May"
"Now at the end of season 5, I'm back in a hospital bed. Some of the treatment's gone a bit awry, let's say. I'm going to be here for a little while"
"If this is all successful, I'll see you for season 6, and if it isn't, I won't. Take care, everyone"
🚨JUST IN: The Clarity Act ADVANCES out of the Senate Banking Committee in a 15-9 bipartisan vote, with two Democrats voting in favor: @SenRubenGallego and @Sen_Alsobrooks.
Next stop: the full Senate.
🚨SCOOP: Last minute negotiations between Banking Committee Republicans and Democrats over multiple amendments were brokered this morning in an effort to secure bipartisan support for today’s vote on the Clarity Act, multiple sources tell me.
However, the compromise came at the cost of a specific change to a @SenLummis amendment that removed language from Section 301 of the bill referencing the Blockchain Regulatory Certainty Act (BRCA), disappointing some DeFi advocates who say the move could strip out critical protections for software developers as the bill moves forward.
Notably, Senator @MarkWarner (D-VA) did not vote to advance the bill despite positively referencing the changes during the markup.
That said, Senator @berniemoreno said during the hearing that there’s still work to be done on Section 301, suggesting discussions will continue in the coming weeks as @BankingGOP and @SenateAg work to merge the texts ahead of a full Senate vote.
The Senate Banking Committee is putting in the work as it moves the Clarity Act forward… incredible leadership!
Millions of Americans are already in this market. Ripple stands behind this bill because they deserve the same rules and protections as every other asset class. If the largest economy in the world is going to lead on crypto - and it must - this is the moment. Let's get it done!
BREAKING : This is massive SHOCK for Netanyahu and his friend Trump from 45 year old Hungary PM 🔥
🇮🇱 Netanyahu –– "The whole world should support Israel against Iran"
*Exactly after 18 hours*
🇭🇺 Péter Magyar –– 🔥 "I will arrest Netanyahu if he ever comes to Hungary"
"I made it clear that Hungary intends to remain a member of the International Criminal Court.
If someone enters the territory of a country that is a member of the ICC and that person is under an arrest warrant, then they must be taken into custody" 🫡
That's why the world needs young learers
Today, @Ripple submitted an additional letter to the SEC’s Crypto Task Force addressing a key question from Commissioner Peirce’s “New Paradigm” speech: When does a digital asset separate from an investment contract?
We appreciate the continued engagement with the Task Force. https://t.co/QVL2tquYLQ