- Ripple’s CEO has pushed for bipartisan cooperation and has hailed a recent win as a sign of growing influence.
- Garlinghouse’s efforts and others contributed to a recently passed bill that is seen as a win for crypto.
- Increased political engagement has reflected the maturing crypto industry’s proactive approach to its future.
Brad Garlinghouse, CEO of Ripple, is emerging as a central figure in the cryptocurrency industry’s efforts to influence regulations in the United States. This newfound influence reflects a broader industry trend, with crypto leaders actively lobbying for legislation that fosters innovation and carves out a more favorable space for digital assets.
Ripple CEO Confident of Win in SEC Lawsuit
Garlinghouse has been a vocal advocate for clear and supportive cryptocurrency regulations. He has lobbied for legislation and urged bipartisan cooperation from lawmakers. These efforts seem to be yielding results. The recent passage of the FIT21 bill, which incorporated significant input from crypto lobbyists, stands as a testament to the industry’s growing political clout.
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“For the first time, the crypto community has a real chance to shape regulatory outcomes,” declared Garlinghouse. He went on to urge Democrats to abandon what he sees as “anti-crypto” rhetoric and work with Republicans to promote innovation in the crypto space.
These comments follow his previous assertions that the ongoing lawsuit between Ripple and the SEC, which centers around whether XRP is a security, will ultimately be decided in Ripple’s favor.
Ripple Applauds FIT21 Bill
Notably, the FIT21 bill includes provisions that align with Ripple’s stance on this issue, potentially offering them a legal advantage. Garlinghouse is not alone in this fight. Major cryptocurrency players like Coinbase, along with industry groups, have invested heavily in lobbying efforts.
However, his leadership role in Ripple, a company heavily reliant on clear crypto regulations for its XRP product, lends particular weight to his voice. This increased political engagement highlights the maturing cryptocurrency industry’s proactive approach to shaping its regulatory future.
While short-term price fluctuations remain a reality for XRP, the broader trend suggests a significant shift in the regulatory landscape. With Garlinghouse leading the charge, the crypto industry appears poised to play a more significant role in determining its own path forward.
On the Flipside
- The SEC lawsuit against Ripple could still go against them, impacting XRP’s legal status and potentially hindering its wider adoption.
- Increased lobbying efforts by the cryptocurrency industry could be perceived as an attempt to unduly influence regulation for their own benefit.
- Even with the FIT21 bill’s passage, the overall regulatory landscape for cryptocurrency remains unclear, potentially hindering innovation.
Why This Matters
Brad Garlinghouse’s growing influence signifies a turning point for the crypto industry. His lobbying efforts, coupled with the FIT21 bill’s passage, suggest a maturing industry actively shaping its future through legislation, potentially leading to clearer regulations and a more favorable environment for digital assets.
If you like this article, you will probably like this article about the possibility of an XRP ETF:
Ripple Hungry for XRP ETF as SEC Gives Ethereum the Go-Ahead
This lawsuit may shape US cryptocurrency regulation’s future. Interested in the Ripple vs SEC legal battle? Read more here:
Will Ripple vs. SEC Finally Get Clarity with This New Bill?
