„Senator Cynthia Lummis Applauds XRP Ruling, Calls for Crypto Regulation“

– Republican lawmaker and crypto advocate Senator Cynthia Lummis has expressed her support for the recent ruling in the SEC vs. Ripple case.
– Lummis applauded the finding of the Southern District of New York that crypto assets traded in secondary markets are not investment contracts.
– The senator believes the decision highlights the need for Congress to pass the Lummis-Gillibrand Responsible Financial Innovation Act.

„Crypto Queen“ Cynthia Lummis Applauds XRP Ruling

Republican Senator Cynthia Lummis, a self-described crypto HODLer and strong supporter of the crypto industry, has expressed her support for the recent ruling in the SEC vs. Ripple case. Lummis took to Twitter to share her views on the ruling, which found that crypto assets traded in secondary markets are not investment contracts.

Senator Lummis also pointed out that the court’s decision aligns with the proposed crypto legislation she and Senator Kirsten Gillibrand introduced in June 2022. The bill, called the Lummis-Gillibrand Responsible Financial Innovation Act (RFIA), aimed to provide comprehensive regulation of digital assets and clarify the authority of different regulatory bodies over cryptocurrencies.

According to Lummis, the recent ruling in the SEC vs. Ripple case confirms the need for Congress to pass the RFIA and provide a regulatory structure for the crypto asset industry that prioritizes consumer protection.

Senator Cynthia Lummis Applauds XRP Ruling

Senator Cynthia Lummis, a Republican lawmaker and vocal supporter of the cryptocurrency industry, has expressed her approval of the recent judgment in the SEC vs. Ripple case. Lummis took to Twitter to share her thoughts on the ruling, which determined that crypto assets traded in secondary markets are not investment contracts.

Lummis also highlighted that the court’s decision aligns with the proposed crypto legislation she and Senator Kirsten Gillibrand introduced in June 2022. The legislation, known as the Lummis-Gillibrand Responsible Financial Innovation Act (RFIA), aimed to establish comprehensive regulation for digital assets and provide clarity regarding the authority of different regulatory bodies over cryptocurrencies.

Lummis believes that the recent ruling in the SEC vs. Ripple case underscores the need for Congress to pass the RFIA and establish a regulatory framework that prioritizes consumer protection for the crypto asset industry.