Brad Garlinghouse said the 2024 US presidential election could be a watershed moment for cryptocurrency regulation.
He stressed that #cryptocurrency regulation should not be politicized and could revolutionize commerce.
Mr. Garlinghouse criticized the lack of clear regulation in the United States and the negative attitude of the current administration.
Brad Garlinghouse, CEO of #Ripple Labs, said on Bloomberg TV's "Bloomberg the Close" that the U. S. presidential election in 2024 is likely to be a turning point for cryptocurrency regulation. Regulation should not be politicized, he said, because it is a technological advancement that could revolutionize commerce. Mr. Garlinghouse highlighted the problem of lack of clear regulation in the U. S. and said that the current administration's stance is negatively affecting the industry.
Brad Garlinghouse also drew attention to the position of SEC Chairman Gary Gensler, who said that almost all crypto assets are securities, a position that is being challenged in court. He also noted that the SEC has not relaxed its efforts despite several court rulings against this general classification. This has escalated the battle between the crypto industry and regulators, calling into question the future of the crypto industry in the US. According to Garlinghouse, such a hardline stance is holding back Ripple and the cryptocurrency industry as a whole.
Rate noted that at a recent cryptocurrency roundtable in Washington, D. C. , featuring such luminaries as Senators Gillibrand and Anita Dunn, Garlinghouse said that a change is taking place in the Democratic Party. He said he has noticed that the party is lagging behind the Republican Party in supporting the development of #cryptocurrencies .
G Mr. Garlinghouse talked about a recent court case in which Ripple received a favorable ruling that #XRP is not a security.
n onetheless, Garlinghouse pointed to the progress of U. S.
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