Ripple CEO Brad Garlinghouse Anticipates Regulatory Progress for Crypto Post-2024 US Election

Ripple CEO Brad Garlinghouse Anticipates Regulatory Progress for Crypto Post-2024 US Election

Ripple CEO Brad Garlinghouse, speaking at the Washington DC Fintech Week on October 23, 2024, shared his optimism for a positive regulatory shift in the cryptocurrency sector following the upcoming US presidential election. He outlined expectations for regulatory changes based on the potential election of either Donald Trump or Kamala Harris and emphasized the growing importance of crypto-focused voters in the race.

Garlinghouse Predicts Change in Crypto Regulation

During his address, Garlinghouse expressed confidence in a “reset” for crypto regulation. Citing what he describes as the current administration’s “hostile” regulatory stance toward digital assets, he conveyed hope that the post-election period would bring “significant movement forward” for the industry. With both Trump and Harris actively seeking the support of crypto-friendly voters, Garlinghouse’s remarks come at a crucial time, just days before the election.

While former President Trump has openly criticized the Biden administration’s crypto policies, he promised pro-crypto reforms if elected. At the Bitcoin 2024 Conference, Trump pledged to replace SEC Chair Gary Gensler, stating, “The rules will be written by those who love your industry, not those who hate it.” Kamala Harris, on the other hand, has focused on proposing fair and balanced regulations for digital assets. She is also reaching out to key voter demographics, including Black male voters, aiming to ensure equitable treatment for all investors under her proposed framework.

Garlinghouse’s Advocacy and Ripple’s Role in Crypto Politics

Garlinghouse has shown active support for pro-crypto political candidates, bolstering the efforts of the industry’s Political Action Committees (PACs). Ripple donated $25 million to the Fairshake PAC to promote pro-crypto candidates. Garlinghouse has also publicly endorsed Senator Elizabeth Warren’s opponent, John Deaton, in the upcoming Massachusetts election. In an October 22 social media post, he praised Deaton’s advocacy for the XRP community and criticized Warren’s stance on digital assets.

With the 2024 election poised to impact the crypto regulatory landscape, industry stakeholders await the election results to see if Garlinghouse’s anticipated “forward progress” will materialize.