Republican Congressman Glenn Thompson (R-PA) is planning to introduce a crypto bill in the House of Commons following the recent Ripple ruling. The court ruled that sales of Ripple’s XRP to the public do not qualify as securities sales, which could impact legislation on similar cryptocurrencies. Thompson believes the ruling showcases the confusion surrounding how securities laws apply to cryptocurrencies and highlights the need for clearer regulations. The proposed bill aims to categorize cryptocurrencies as securities or commodities, providing greater clarity for the industry. However, Democratic lawmakers have expressed skepticism, potentially creating obstacles for the bill’s passage.
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