Ripple CEO Calls on Next President to Focus on Reforming US Crypto Regulations
Prominent figures in the cryptocurrency sector are urging the next U.S. administration to establish more transparent regulatory policies for the industry. They caution that without a robust framework to support crypto, the United States risks falling behind as other nations capitalize on this gap. With the impending U.S. elections, where Republican contender Donald Trump will face off against Democratic candidate Kamala Harris, insights from key players in the crypto world are increasingly relevant.
**Ripple’s CEO Expects Changes in Federal Crypto Regulation**
It seems likely that if Trump wins the election, he will implement significant changes within the current SEC leadership. Rumors suggest that Harris may also consider appointing a pro-crypto individual as the chair of the SEC. Regardless of the election outcome, the SEC is poised for new leadership.
Brad Garlinghouse, CEO of Ripple, expressed optimism that the forthcoming U.S. administration would create a more favorable atmosphere for the cryptocurrency sector by clarifying legal regulations and replacing the current SEC Chair, Gary Gensler, who is known for his critical stance on crypto.
Garlinghouse, along with Coinbase’s Chief Legal Officer and other industry leaders, shared their perspectives with Bloomberg regarding the growing influence of the crypto industry in U.S. election funding for 2024.
**Coinbase’s Paul Grewal: U.S. Must Act on Crypto Clarity to Stay Competitive**
Paul Grewal, Coinbase’s Chief Legal Officer, stressed the urgent need for the U.S. to establish a crypto-friendly environment without further delay. He warned that if a clearer legal framework for cryptocurrency is not developed soon, other regions may see significant growth, leaving the U.S. trailing. Grewal highlighted that nearly 52 million Americans see cryptocurrency as part of their future, making it imperative for the next administration to address regulatory concerns.
In summary, the call for clear and consistent cryptocurrency regulations is becoming increasingly urgent. Industry leaders are advocating for decisive action from the U.S. government to ensure the country remains competitive in the evolving crypto landscape.
For ongoing updates on the regulatory environment in the U.S., stay connected with Coinpedia.