Stuart Alderoty, the Chief Legal Officer of Ripple, has expressed disapproval of the United States’ ambiguous legislation around crypto, emphasizing the necessity of a consistent structure for digital assets.
Alderoty expressed disapproval of the United States’ inability to deliver consistent outcomes, drawing a comparison to other nations such as the European Union and the United Kingdom.
The United States is perceived as falling behind in the adoption of cryptocurrencies and need fresh leadership. Republican candidate Donald Trump has expressed his support for the virtual asset business.
Additional areas are making advancements in crypto regulation, like the European Union (EU) implementing the initial stage of its Markets in Crypto Assets (MiCA) legislation, and the United Kingdom unveiling its proposed digital regulations in July.
The US House of Representatives is poised to reverse President Joe Biden’s veto of the SEC’s Staff Accounting Bulletin (SAB) No.121, which mandates financial institutions to record digital assets on their balance sheets.
The discourse surrounding SAB 121 forms a component of a broader dialogue concerning the optimal equilibrium between regulatory supervision and advancement within the crypto sector.
The US House of Representatives is poised to nullify President Joe Biden’s veto, underscoring the broader discontent with the current US approach to regulating digital assets.
