United States Senator Cynthia Lummis has called for Congress to establish clear regulations for cryptocurrencies after a recent court ruling declared that Ripple’s XRP token should not be classified as a security when traded on digital asset exchanges. Lummis emphasized the importance of the ruling and the need to prioritize consumer protection and innovation within the crypto industry. She also highlighted the significance of maintaining the Howey test, which determines whether an investment qualifies as a security. Lummis’ plea for regulatory clarity reflects the recognition among lawmakers of the transformative power of cryptocurrencies. The outcome of this ongoing conversation will shape the future of cryptocurrencies in the United States.
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