Ripple and XRP are at a significant turning point, as changes in cryptocurrency regulation bring new hope and potential solutions to the ongoing legal battle spanning several years.
Ripple CEO shares new outlook for XRP
Brad Garlinghouse, CEO of Ripple, shared possible changes in cryptocurrency regulation under Donald Trump's administration. In the post, he discusses how the new administration could reshape the role of the U.S. Securities and Exchange Commission (SEC) and the impact this might have on Ripple's legal dispute regarding XRP.
Garlinghouse praised the XRP community for their resilience and ability to recover, stating:
“I shared some thoughts on the impact of the Trump administration on cryptocurrency and also wanted to acknowledge the patience and unwavering support of the XRP family.”
Brad Garlinghouse
He also reflected on XRP's journey from being the second largest digital asset to a prolonged legal battle, and acknowledged:
“There has been a lot of volatility since XRP became the second most valuable digital asset. Sometimes, it has been a frustrating journey.”
“About 6 years since the SEC began intervening in the crypto market, choosing winners and losers... they have spent 4 years pursuing the Ripple lawsuit.”
“Finally, we may also see the light at the end of the tunnel, as external market factors (which are unrealistic and manipulative) are gradually fading. The tide is changing, headwinds are turning into tailwinds, and the opportunities for those who believe in the future of XRP are immense!”
Donald Trump's perspective on cryptocurrency is viewed as a critical factor, focusing on encouraging industry development. He has pledged to remove SEC Chairman Gary Gensler on his first day in office, and Garlinghouse along with many industry figures see this as a transformative change. Gensler, known for his strict “regulation by enforcement” policy, has faced criticism from many in the industry, including Paul Grewal, Chief Legal Officer of Coinbase. Grewal predicts that under the Trump administration, the SEC will take a more focused approach to combating fraud, rather than continuing a broad crackdown on the crypto industry. He expects this change will lead to a clearer regulatory environment, with stronger collaboration between regulators and crypto companies, rather than a series of lawsuits against companies in the industry.
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