Key Republican Optimistic About Crypto Bill After XRP Ruling (1)

A key House lawmaker says he’s optimistic that a recent court ruling widely seen as limiting the US Securities and Exchange Commission’s power will bolster support for crypto legislation that he’s been championing.

Glenn Thompson, a Pennsylvania Republican who chairs the House Agriculture Committee, said Tuesday that he plans to formally introduce the bill this week with House Financial Services Committee Chairman Patrick McHenry, a North Carolina Republican. A federal judge ruled last week that sales of Ripple Labs Inc.’s XRP token were securities — and under the SEC’s remit — when made directly to institutional ...