The conversation about cryptocurrency in the United States is witnessing a significant shift in perception and policy.
From facing significant legal pressure, the current policy is aimed at widespread acceptance and support for the development of blockchain technology, creating opportunities for the cryptocurrency industry to grow sustainably.
MAIN CONTENT
Policies and attitudes in the United States are shifting from tightening to supporting cryptocurrency and blockchain technology.
Positive changes are perceived through the statements of Ripple's CEO and cryptocurrency lawyers.
The coordinated regulatory direction helps the United States lead in shaping the global cryptocurrency future.
What political developments mark a turning point in the evaluation of cryptocurrency in the United States?
Ripple CEO Brad Garlinghouse emphasizes the 'notable and clear' change in how U.S. policymakers view cryptocurrency compared to the previous year. In particular, the public support from many Fed officials for blockchain technology is seen as a major turning point for the industry.
At the Wyoming Blockchain Symposium, Mr. Garlinghouse shared positive impressions about the supportive spirit in Washington, a stark contrast to previous years. This is a sign that the government is gradually opening up to cryptocurrency and related technologies.
"I don't think many people expected to see many Fed officials publicly support cryptocurrency technology... it really is a new dawn."
– Brad Garlinghouse, CEO of Ripple, Wyoming Blockchain Symposium 2024
What legal reasons indicate the transformation in the cryptocurrency sector?
XRP representative attorney John Deaton describes the previous phase as 'ChokePoint 2.0' with tightening measures and enforcement regulation. He assesses that the market is currently moving towards 'widespread acceptance and mainstreaming'.
This is a pivotal change, as the previously heavily constrained industry is now being facilitated for extensive development, shaping the future of cryptocurrency in the United States.
"We have gone through a phase of government tightening, regulating by enforcement, but now we are moving towards widespread acceptance and mainstreaming."
– John Deaton, XRP Attorney, 2024
What is considered a key factor for the development of cryptocurrency regulations in the United States?
Stuart Alderoty – Ripple's General Counsel emphasizes the importance of regulatory coordination between legislative and executive agencies following the GENIUS Act. This collaborative model needs to create a clear framework while still promoting innovation.
Unified regulation helps the cryptocurrency market operate more transparently, reduces legal risks for businesses, and facilitates investors and users.
What is the position of the United States in shaping the global cryptocurrency future?
The changing attitudes of traditional lawmakers have sent positive signals for the United States to clarify its domestic framework and also lead global cryptocurrency trends. This marks a shift from skepticism to cooperation and long-term development.
However, many challenges such as price volatility, investor protection, and consistency in regulation among states remain issues to be addressed to build trust and stabilize the market.
Frequently Asked Questions
What is the current attitude of the U.S. government towards cryptocurrency?
The U.S. government is trending from tightening to supporting the development of cryptocurrency and blockchain technology, as evidenced by public support from senior officials.
What does ChokePoint 2.0 mean in cryptocurrency?
This was a phase where the government tightened control, using enforcement measures to regulate the cryptocurrency industry and restrict activities to tighten oversight.
Why is regulatory coordination important?
Coordination helps create a clear legal framework, avoiding conflicts and overlaps while promoting innovation and protecting stakeholders in the cryptocurrency industry.
How can the United States influence the global cryptocurrency industry?
With a leading role in policy and technology, the United States can establish standards and legal frameworks that help the cryptocurrency market develop stably and transparently globally.
What are the main challenges of cryptocurrency today?
High price volatility, inadequate investor protection, and lack of consistency in regulation among states are major challenges that need to be addressed.
Source: https://tintucbitcoin.com/ripple-ceo-ca-ngoi-binh-minh-moi-tien-dien-tu/
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