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The CEO of Ripple, a third-party payment internet based on distributed ledgers, predicted that the United States would make active progress in encryption supervision this year.

At the opening of the 118th Congress on Tuesday, Brad Garlinswit listed the important reasons for his view that 2023 is undoubtedly the year of encryption regulation improvement.

He pointed out that the diligent supervision of the digital currency industry has won the strong support of the U.S. House of Representatives and House of Lords Polshenko and Democrats, including the U.S. Congressmen Ro Khanna (D-CA), Tom Emmer (R-MN), Ritchie Torres (D-NY), Patrick McHenry (R-NC), Glenn Thompson (R-PA) and Congressmen Kirsten Gillibrand (D-NY), Cynthia Lummis (R-WY), Cory Booker (D-NJ), John Boozman (R-AR) and Debbie Stabenow (D-MI) are among the people who realize the importance of clear interior space.

"My work is not one-size-fits-all. The previous bill tried to deal with various issues, from stable currency and CEX (RFIA and DCEA); a clearer definition of the security of digital currency (Securities Transparency Act); and a safe harbor (Data Token Transparency Act)."

He pointed out that the encryption regulation bill might not win everyone's approval, but these proposals could serve as the beginning of the debate in Congress.

"The foundation of regulation has already been promulgated, and we still have the opportunity to deal with this problem for millions of Americans who are already interested in cryptocurrency (and will continue to be interested in it)."

Garlinswett showed that European Union countries, Malaysia, Mexico and Japan now have their own encryption architectures, and the United States has long been ahead of the United States in technology. He pointed out that the lack of regulatory regulations may cause devastating adverse effects, such as the collapse of the Bahamas Cryptographic Trading Center FTX.

"Although the previous unremitting efforts in the regulatory transparency of cryptocurrency in the United States have already stagnated, I am cautiously optimistic that 2023 is the year we (at last) see a leap.

The 118th Congress has a landmark opportunity to ensure that the United States will always maintain the leading level of independent innovation in the near future decades. I hope it is their behavior. "

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