- U.S. Likely to Become More Pro-Crypto Post-Election, Regardless of Winner
- Candidates’ Divergent Stances: Trump Pro-Crypto, Harris Offers Nuanced Support
- Current U.S. Crypto Policies Viewed as Stifling Innovation, Ripple CEO Says
As the U.S. presidential election nears, Ripple CEO Brad Garlinghouse predicts a significant shift in the country’s stance on cryptocurrency. In a recent interview with CNBC, Garlinghouse shared his belief that the U.S. will adopt a more supportive approach to digital assets, regardless of who wins the election.
He described the upcoming election as pivotal for the future of cryptocurrency in the United States, hinting that a pro-crypto Congress could emerge from this political transition.
According to Garlinghouse, the U.S. is on the brink of a reset regarding regulatory policy on cryptocurrency, which could include a more innovation-friendly Congress than ever before. He stated that regardless of the election’s outcome, the landscape will likely be far more supportive of crypto assets and related innovations.
Both presidential candidates, Vice President Kamala Harris and former President Donald Trump, have weighed in on cryptocurrency, albeit from different perspectives. Trump has made pro-crypto statements early and openly, even positioning himself as the “crypto president.”
He has suggested including Tesla CEO Elon Musk in his cabinet, with Musk’s well-known support for digital assets potentially bolstering this sector’s growth under the Trump administration. Meanwhile, Garlinghouse noted that Harris and her team have issued more nuanced positions on crypto, but recent statements reflect a constructive stance on blockchain technology and digital innovation.
Garlinghouse expressed dissatisfaction with the current administration’s stance on digital assets, labeling it “an attack” on crypto innovation. He cited the SEC, the Office of the Comptroller of the Currency, and the Treasury as regulatory bodies that have not supported cryptocurrency initiatives.
According to him, this perceived hostility from regulatory bodies has held back the U.S. digital asset market at a time when global demand for these assets is on the rise.
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