crypto regs sec ripple xrp 1000x600 1 Crypto Regulation Weekly: SEC vs. Ripple

Crypto Regulation Weekly: SEC vs. Ripple

– The US SEC’s fight to regulate cryptocurrencies took a hit this week as Senators said a key provision giving the CFTC authority over most cryptocurrencies might be incorporated into another bill the Senate Banking Committee will vote on this year.
– Meanwhile, in a House Financial Services Committee hearing, Rep. Brad Sherman (D-Calif.) took Genslers new enforcement division director, Gurbir Grewal, to task for the agencys lack of action against bigger fish than BlockFi and cross-border payments firm Ripple.
– In Japan, regulators gave an extremely stern warning to the Japan Virtual Currency Exchange Association (JVCEA), a five year old crypto industry self regulatory group.
– In India, the finance minister revealed in parliamentary testimony on July 19 that the Reserve Bank of India wants cryptocurrencies banned outright.

 

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