Ripple CEO Brad Garlinghouse is optimistic about SEC changes that could support crypto growth following Trump's re-election.
Ripple hopes SEC restructuring under pro-crypto leaders may bring regulatory clarity, aiding XRP’s progress after a long legal battle.
Ripple scored a partial victory in court, with XRP deemed not a security, but ongoing appeals keep its regulatory status uncertain.
Ripple CEO Brad Garlinghouse has expressed optimism about the potential regulatory changes that may shape the future of XRP. Following the re-election of former U.S. President Donald Trump, Garlinghouse has voiced his confidence that a new administration could bring significant adjustments to the U.S. Securities and Exchange Commission (SEC).
Consequently, with Trump’s stated commitment to reforming the SEC, especially by appointing crypto-friendly officials, Garlinghouse sees an opportunity for a positive shift in the regulatory landscape for digital assets like XRP.
https://twitter.com/bgarlinghouse/status/1854633035888505132 Hope for a Crypto-Friendly SEC with New Leadership
In 2020, the SEC initiated legal action against Ripple, alleging that XRP was an unregistered security. This lawsuit not only impacted Ripple’s business but also resulted in XRP facing significant market setbacks.
For years, XRP has struggled to regain the momentum it once had, at one point ranking as the second-largest cryptocurrency. Now, with the potential restructuring of the SEC on the horizon, Garlinghouse hopes for more regulatory clarity, possibly driven by new leadership that understands the complexities of the crypto sector.
According to Garlinghouse, former acting Comptroller of the Currency Brian Brooks or former CFTC Chair Chris Giancarlo would be ideal candidates to lead the SEC. Both figures have shown support for crypto-friendly policies.
More so, this aligns with Garlinghouse’s view that the current regulatory framework requires modernization to foster innovation rather than stifle it. His statements reflect a cautious optimism, given that ongoing appeals from both Ripple and the SEC continue to cloud XRP’s future.
Ripple’s Legal Battles and Partial Court Victory
Notably, the past few years have seen Ripple and the SEC embroiled in a prolonged legal conflict that has created uncertainty across the crypto market. Ripple scored a partial legal victory when Judge Analisa Torres ruled that XRP is not a security, yet the case remains open as both sides pursue additional appeals. This ongoing legal uncertainty has kept many investors hesitant, as they await a conclusive ruling that could define XRP’s future status under U.S. law.
Frequently, Garlinghouse has highlighted the challenges faced by Ripple and the broader crypto sector due to regulatory ambiguity. His recent posts express hope that Trump’s re-election could bring a much-needed regulatory overhaul. Ripple’s CEO remains confident that any change in SEC leadership would support growth in the crypto space by establishing clearer, innovation-friendly guidelines.
Moreover, the XRP community has remained steadfast throughout Ripple’s legal struggles, with many members continuing to support the platform. Garlinghouse’s recent remarks reflect his appreciation for this support and indicate a belief that brighter days may lie ahead.
Therefore, investors have reacted positively to the potential for a pro-crypto shift within the SEC, hoping for a resolution that would favor XRP’s future.
The post Ripple CEO Anticipates Bullish Outlook for XRP Under Trump Leadership appeared first on Crypto News Land.
