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Ripple CEO Welcomes Most ‘Pro-Crypto US Congress’ in History
As the 119th US Congress was officially sworn in, Ripple’s CEO Brad Garlinghouse has expressed his enthusiasm and optimism towards the new administration. In a recent tweet, Garlinghouse welcomed the newly formed government, labeling it as “the most pro-crypto Congress in history.”
The statement comes amidst concerns over regulatory uncertainty and potential crackdowns on cryptocurrency activities under the Biden administration. However, with Donald Trump set to take office later this month, hopes are running high that the Republican-dominated Congress will be more receptive to crypto-friendly policies.
This sentiment was echoed by Garlinghouse himself, who hinted at the benefits of a pro-crypto administration in a tweet following the elections in early November. At the time, he noted that US-based cryptocurrency projects had benefited significantly from Trump’s landslide victory, citing the growth of assets like XRP and ADA as evidence.
The Ripple CEO has been vocal about his support for the upcoming administration, meeting with former President Trump or individuals close to him to discuss potential regulatory frameworks around the crypto industry. Although these reports were never confirmed by Garlinghouse himself, his public statements have only fueled speculation over possible changes in policy.
One area where Ripple stands to benefit is the ongoing legal battle between the company and the Securities and Exchange Commission (SEC). A four-year dispute has seen Ripple fight an SEC lawsuit claiming XRP is a security. However, with the departure of former chairman Gary Gensler, who was notorious for his strict stance on cryptocurrency regulations, many believe that new leadership at the agency will lead to a more favorable outcome.
As the dust settles from the elections and the beginning of the new Congress, it remains to be seen how Ripple and other US-based crypto projects will benefit from this shift.
Source: cryptopotato.com
