Ripple CEO on Crypto Regulation: Why USA Risks Falling Behind

Published by

Vignesh S G

October 30, 2024

Reputed crypto leaders and experts demand the upcoming US administration implement clearer crypto regulation policies. They warn that if the US fails to create a supportive framework for the industry, other countries will seize that opportunity, pushing the US far behind.

With the US election, in which Republican candidate Donald Trump will compete against Democratic candidate Kamala Harris, just a few days away, here is what leading voices in the cryptocurrency industry have to say!

SEC Leadership Is Headed for Change

Insiders suggest that new leadership at the SEC is almost certain, no matter who wins. If elected, Trump is expected to replace the current SEC Chair. Meanwhile, rumors indicate that Harris could also consider appointing a pro-crypto executive to lead the agency. This anticipated shake-up is sparking optimism within the crypto community that the U.S. may soon see a more industry-aligned regulatory environment.

Ripple CEO Brad Garlinghouse expressed hope that the next administration will create a friendlier climate for the cryptocurrency sector by establishing clearer laws and replacing the current SEC Chair, Gary Gensler, known for his strict anti-crypto stance.

Coinbase’s Paul Grewal Stresses Urgency: Regulations When?!

Paul Grewal, the Chief Legal Officer of Coinbase, emphasized why the US should not delay further in creating a crypto-friendly environment. Grewal warned that if the US administration does not create a clearer legal crypto framework soon, the industry may thrive in other regions leaving the US far behind. He noted that nearly 52 million Americans envision crypto as part of their future, so the next US regime has no choice but to address their concerns about cryptocurrency regulations.

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XRP Lawsuit: Cofounder of Ripple Talks About Confidential Meetings with Harris’ Team
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The push for clear, consistent crypto regulations is intensifying. As the 2024 election nears, the crypto industry’s hopes hinge on the next administration’s ability to build a supportive environment for digital assets in the U.S.

Clarity is crucial in the crypto world – will the new leaders deliver?

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.