- Ripple CEO backs Senator Vance’s criticism of SEC Chair, calling for tech-friendly crypto regulations in the U.S.
- Vance and Garlinghouse oppose SEC’s current approach, advocating for balanced regulations to foster blockchain innovation.
- Trump’s VP pick, Vance, signals a potential shift toward crypto-friendly policies, aligning with tech-savvy voter interests.
Ripple CEO Brad Garlinghouse has thrown his weight behind Ohio Senator JD Vance’s criticism of the Securities and Exchange Commission (SEC) under Chairman Gary Gensler. Garlinghouse’s endorsement aligns with increasing calls for a more tech-friendly regulatory framework for cryptocurrencies in the United States.
On February 27, 2024, Bill Hughes posted a video featuring Senator JD Vance criticizing SEC Chairman Gary Gensler’s regulatory approach. Vance argued that Gensler’s methods are excessively political and counterproductive.
He accused Gensler of targeting useful tokens while ignoring those without specific utility. Vance sees blockchain technology as crucial to challenging the dominance of Big Tech, particularly social media giants. Despite not being a staunch crypto advocate, Vance believes Gensler’s actions create regulatory barriers that protect current tech incumbents.
Garlinghouse responded to Vance’s criticism, emphasizing the need for elected officials to harness technology to maintain American exceptionalism.
This stance aligns with Garlinghouse’s broader vision of a regulatory environment that fosters innovation rather than stifles it. He highlighted the importance of a balanced approach to regulation that promotes technological advancement while ensuring consumer protection.
Adding to the political intrigue, former President Donald Trump announced on July 15, 2024, that JD Vance would be his vice-presidential running mate.
This choice might indicate a friendlier stance towards cryptocurrencies if Trump is elected again. Vance’s known stance on blockchain and regulation might influence future policies if elected. His nomination aligns with a broader strategy to appeal to tech-savvy and crypto-enthusiastic voters.
The alignment of influential figures like Garlinghouse and Vance points to a significant political shift favoring less restrictive crypto regulation. They disagree with Gensler’s current strategy, which they say favors big tech companies.
This shows they’re working together to push for more technology-friendly policies in U.S. politics. This could greatly affect how cryptocurrency rules are made in the future.
The partnership between Garlinghouse and Vance shows a growing movement in politics and technology supporting rules that help new technologies grow. As politics change, their work together could greatly influence how the US regulates cryptocurrency in the future.
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