The Biden administration was challenging for Ripple Labs. The company faced tough legal battles, especially with U.S. regulators like the SEC. However, things are shifting with the election of Republican leader Donald Trump, who positioned himself as a crypto supporter during his campaign. Ripple’s token, XRP, has seen a remarkable rise, going from $0.5031 to $1.1277—a 124.15% increase—in just two weeks following Trump’s win.
In a recent interview with a major global media outlet, Ripple CEO Brad Garlinghouse shared his optimistic view on the future under Trump. Here’s what he had to say.
Garlinghouse stressed the urgent need for government action to fix the current cross-border payment system. He sees XRP as the ideal solution to replace the “slow and expensive” process with something faster and more cost-effective.
Garlinghouse acknowledged the significant impact of Ripple’s ongoing legal battle with the U.S. SEC. He pointed out that 95% of Ripple’s customers are based outside the U.S. and expressed doubt about the company’s ability to regain its U.S. user base without clearer regulations.
What the U.S. Can Learn from Other Countries
Garlinghouse compared the U.S.’s regulatory challenges with the success of countries like Japan, the UK, and Switzerland, where crypto regulations are clearer and more supportive. He emphasized that regulatory clarity is key if the U.S. wants to lead in the crypto space.
During his campaign, Trump promised to overhaul the country’s crypto regulations. Garlinghouse, like many others in the industry, believes Trump has the ability to bring clarity to crypto regulations and unlock the sector’s potential.
Garlinghouse also criticized the U.S. SEC and the Commodity Futures Trading Commission (CFTC) for not fully understanding the unique nature of the crypto industry. He urged these regulatory bodies to adopt a more constructive role moving forward.
In the interview, Garlinghouse mentioned a private meeting between Trump and Coinbase CEO Brian Armstrong, where they discussed making the U.S. a global leader in digital assets. Garlinghouse expressed optimism that the country could become a central hub for blockchain technology and crypto within the next five to ten years.
If Trump delivers on his promises, the U.S. might soon find itself at the center of a global digital asset revolution.
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