Ripple CEO Brad Garlinghouse recently shed light on the underlying factors that have led to the reluctance of US banking institutions to fully adopt cryptocurrencies, particularly XRP, despite Ripple’s significant legal victory against the Securities and Exchange Commission (SEC).
Speaking at the DC Fintech Week conference, Garlinghouse emphasized that US banks remain cautious about engaging with digital assets due to the broader governmental stance towards the crypto industry.
He specifically pointed to the prevailing hostility from authorities, including the Options Clearing Corporation (OCC), which has made banks hesitant to embrace crypto despite Ripple’s legal success.
Governmental Hostility Hinders Meaningful Engagement
Garlinghouse highlighted the concerns raised by banks, stating, “Even though you won the case, the United States government is still hostile towards crypto. The OCC is hostile towards crypto.” This sentiment has resulted in a lack of meaningful engagement by US banks in the crypto space, as they remain skeptical of the regulatory environment.
Expressing his concerns, Garlinghouse highlighted the potential consequences of the United States failing to provide a conducive regulatory environment for the crypto industry.
He pointed to other countries, such as the United Arab Emirates and the United Kingdom, which are actively advancing their market share by adopting clear policies and attracting significant crypto-related investments.
“I don’t think the window has passed for the US to be a leader. But I think every day that goes by, these other markets, they want the entrepreneurs there, they want growth,” Garlinghouse cautioned.
Ripple’s Strategic Focus Shifts Outside the US
Despite the challenges faced in the US, Garlinghouse expressed optimism about establishing a beneficial regulatory framework for crypto within the next decade. In the meantime, Ripple intends to redirect its growth efforts outside the United States, where the operational environment is more favorable and supportive.
“Why would I want to hire more and more people in the United States when the US is making it hostile for me to operate here?” Garlinghouse questioned.
Yassin Mobarak, founder of Dizercapital, echoed Garlinghouse’s sentiment, suggesting that widespread crypto adoption may not occur under the current US administration.
Mobarak believes that a different administration in the White House may be necessary to witness substantial adoption of XRP and cryptocurrencies as a whole within the United States.

Clear and Supportive Regulation Crucial for Crypto Growth
Garlinghouse’s comments underline the critical importance of clear and supportive regulation for the growth and adoption of cryptocurrencies.
The United States has a unique opportunity to position itself as a leader in the global crypto economy. However, to achieve this, it must provide the industry with the much-needed clarity and regulatory certainty it requires to thrive.
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