The Most Pro Crypto Congress In History, According To Ripple CEO
Ripple CEO Brad Garlinghouse has called the 119th Congress the most pro-crypto in U.S. history, sparking hope for better regulations and blockchain innovation as 2025 gets underway.
A Fresh Start
With Republicans firmly in control and big changes expected in the U.S. SEC, the crypto industry is optimistic about a fresh start. However, Garlinghouse stresses that the U.S. must act quickly to maintain its global edge in digital innovation.
Meanwhile, the crypto community feels its interests will now be better protected, especially after both Gary Gensler and Caroline Crenshaw were forced to resign by President-elect Donald Trump. Ripple is currently involved in a lengthy legal battle with the SEC over the classification of its XRP token. Garlinghouse is hopeful that the shift in Congress will improve their situation.
China Vs U.S.
The crypto industry has heavily invested in the 2024 elections, supporting over 200 pro-crypto lawmakers. Representative French Hill, for example, has pledged to focus on legislation like the FIT21 Act and stablecoin rules to ensure industry clarity.
Garlinghouse criticized Biden administration policies, like Operation Chokepoint 2.0, which made it harder for crypto companies to work with banks. However, he is hopeful the new Congress will create a more welcoming environment, especially as China continues to expand its tech influence in developing markets.
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