Brad Garlinghouse, the CEO of Ripple Labs, recently expressed his belief that the key to cryptocurrency regulation in the US will be the upcoming presidential elections scheduled for November. During an interview on “Bloomberg The Close” on Bloomberg Television on July 18th, he emphasized the significance of the 2024 elections for the cryptocurrency industry.
Garlinghouse stated that this year’s presidential election in the United States will have a major impact on the sector and could be a turning point for cryptocurrency regulation in the country. He stressed that cryptocurrency regulation should not be politicized, considering the technological advancements that have the potential to revolutionize transactions. The executive highlighted the lack of regulatory clarity and the current government’s unfavorable stance on the matter.
The Ripple CEO pointed out the problem of unclear regulations and criticized the negative impact of the current administration on the cryptocurrency industry in the US. Additionally, he questioned the stance of the Securities and Exchange Commission (SEC) Chairman, Gary Gensler, regarding his view that almost every cryptocurrency is a security.
In a separate event, Brad Garlinghouse criticized the political division in the United States, particularly between Republicans and Democrats regarding cryptocurrency policies. He spoke at the Fortune 2024 BrainstormTech conference, emphasizing the need for a unified approach towards innovation in the US and highlighting the importance of cryptocurrency technology.
Garlinghouse highlighted the divided support for the cryptocurrency industry in the US, with some Republicans backing it while some Democrats remain skeptical. Using an analogy, he illustrated the political divide further.
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