Ripple Lawyer Calls Warren Bigger Crypto Threat Than SEC's Gensler As Senator Proposes Tighter Industry Regulations
• Ripple lawyer John Deaton has named Senator Elizabeth Warren as the biggest threat to crypto in the US, calling her more dangerous than SEC chair Gary Gensler.
• Warren proposed a bipartisan bill with 9 senators to increase regulations and compliance requirements for the crypto industry to crack down on criminal activities.
• The bill calls for more reporting diligence, Know Your Customer rules, and monitoring of unhosted wallets.
• XRP price risks a 7% fall to $0.5773 amid decreasing momentum and growing presence of bears in the market.
• Ripple uses the interledger protocol blockchain to facilitate cross-border payments and transactions on the XRP Ledger distributed ledger.