“All of the proposed measures discussed in this framework seek to provide legal clarity to industry, markets, and consumers in a way that an ad hoc, regulation-by-enforcement approach simply cannot,” Ripple concluded.
SEC Commissioner Hester Peirce criticized her own agency in August for taking this approach to regulating the crypto sector after the SEC announced an enforcement action against cryptocurrency exchange Poloniex.
Meanwhile, Ripple is still in an ongoing lawsuit with the SEC.
Ripple is not the only one that has come up with a proposal for crypto regulation.
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Twitter has set up a team to focus on “crypto, blockchains, and other decentralized technologies — including and going beyond cryptocurrencies.” Initially, the team will explore how it can “support the growing interest among creators to use decentralized apps to …