Among the over 50 attendees who spoke at a congregational hearing organized by representative Warren Davidson on cryptocurrency regulation are representatives from the likes of Ripple (XRP), Fidelity Investments, Nasdaq, Kraken, CoinList, Coinbase, Consensys among other crypto related firms.
The unofficial congregational hearing organized by the Ohio representative is fashioned to bring about a bill that will give a light touch to initial coin offerings regulations.
With the title ‘Legislating Certainty for Cryptocurrencies’, the representatives were invited, because according to Davidson, there input is critical to helping regulators design a heavy-handed regulatory approach that could stall innovation and kill the U.S. ICO market.
In his statement as reported by Finance Magnates, Mike Lempres of Coinbase said: “We all want a fair and orderly markets, we want all the same things regulators do. It doesn’t have to be done in the same way it was done in the past, and we need to be open to that.”
Some averred that there are uncertainty in the definition of security. In his word, David Forman from Fidelity Investments said: “If the rules are unclear, unwritten, or unknown it’s not appropriate to punish people for making the wrong guess.”
Others also pointed that what can qualify as a token is wide, making them seek clarity in the definition of security.
Ripple (XRP) and Coinbase Listing
While some Ripple (XRP) enthusiasts are expecting the long-overdue listing of XRP on Coinbase, there is growing indication that it may be possible at the moment.
And with all rumours and the new release of Google form (where there will be no application fee) through which crypto lovers may hint Coinbase on the coin to list while also giving reasons, there seems to be a space for Ripple on the platform.
However, one of Today’s Gazette analyst has posited reasons why Ripple does not need to Coinbase like before, citing pomp and dump instance of Ethereum Classic as a reason.