Lawmakers Still Need with Understanding Cryptocurrency AssetsThe congressman said that senators and representatives do not understand these types of assets as well as crypto experts, as they face different challenges that span different sectors. So cryptocurrency experts suggest not leaving Washington policymakers alone but continuing to advise them on the adoption of blockchain technology, as they can usually keep pace with technological casino malaysia developments.
Emmer also suggested developing various ideas for the blockchain industry and mentioned that a lot of ideas have come to fruition in the cryptocurrency industry lately.
For Congressman Emmer, the fact that two years have already passed and US regulators are still silent about cryptocurrencies regulatory prospects is completely unacceptable. Consequently, companies, including Ripple, may be forced to explore other countries with crypto-friendly regulations.
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“If the government puts up obstacles, and one of those obstacles is simply inaction, then we have less opportunity to position the US as a leader, “Emmer added. He has been a constant advocate of better education and has introduced legislation in Congress to increase transparency and transparency in the US government’s approach to crypto regulation.
Politicians Accept Donations in CryptocurrenciesEmmer also announced at the event that they are now accepting donations in the form of cryptocurrencies for his campaign. He expressed his views on Ripple and stated that the cryptocurrency is not classified as a security. According to the recorded events, his campaigns will use crypto payment firm BitPay to process payments. Ex-presidential candidate Andrew Yang also supported crypto during his short presidential campaign that ran in February this year when many others were still uncertain.
Emmer also delivered Bitcoin-friendly remarks at the annual meeting of the Bitcoin Foundation in Washington, D.C. last week.
The official said Bitcoin is getting stronger and the world is coming out of a coronavirus – a pandemic fuelled by the financial crisis. The XRP price has been falling steadily since the “crypto-winter” two years ago, but Bitcoin is not disappearing, it’s just not as popular as it used to be, he said.
The recent announcement of a possible Ripple IPO has cast doubt on the benefits of XRP, as the asset is not a mandatory instrument to facilitate RippleNet transactions. Ripple plans to sell pre-dismantled tokens to raise capital to finance the development. However, in recent months there has been a push to reduce the amount of XRP sold on crypto exchanges.
In the past, this uncertainty has been exacerbated in several lawsuits, with the charge that XRP is an unregistered security. Although first raised in 2018, the US Securities and Exchange Commission and the Federal Reserve have not taken a firm stance on the matter.