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Ripple CEO: The next two weeks will determine the success or failure of cryptocurrency legislation
Golden Finance reports that on May 6th, Ripple CEO Brad Garlinghouse stated that the next two weeks will be a critical window for the advancement of cryptocurrency legislation in the United States.
He pointed out that if the Senate Banking Committee fails to complete bill review in the near future, the likelihood of the bill passing will “significantly decrease,” especially as the midterm elections approach, and related issues may become further politicized.
Currently, the U.S. is pushing for the first federal-level crypto regulatory framework, involving the division of regulatory responsibilities between the SEC and CFTC.
Although the House version has passed, progress in the Senate has been relatively slow, but recent compromises over stablecoin yield issues may bring a breakthrough for this month’s advancement.