Ripple’s top brass is ready to roll up their sleeves and work with the new administration, especially when it comes to crypto regulations.
Ripple’s “First 100-Day Checklist”
Right after the election, Ripple CEO Brad Garlinghouse took to X (formerly Twitter) to congratulate the newly elected president and presented a “first 100-day checklist” for the incoming administration. He urged the president to:
- Fire the SEC Chair: Garlinghouse wants the current SEC chair, Gary Gensler, out on day one and replaced with someone more crypto-friendly, like Christopher Giancarlo, Brian Brooks, or Daniel Gallagher.
- Push for a Digital Asset Market Structure Bill: He wants the new administration to push for bipartisan support to pass a bill that creates a clear framework for the crypto market.
- Get Clarity on Crypto Classifications: Garlinghouse wants the government to finally clarify whether cryptocurrencies like Ethereum are securities or not.
Ripple’s Chief Legal Officer Speaks Out
Ripple’s Chief Legal Officer, Stuart Alderoty, also chimed in, echoing Garlinghouse’s call for regulatory clarity. He emphasized the need to end the “regulation-by-enforcement” approach and to position the US as the “crypto capital of the world.” Alderoty also mentioned that the president had taken the time to listen to Ripple’s story during a meeting earlier in the year.
Mixed Political Affiliations
Interestingly, Ripple’s leadership has different political leanings. Alderoty donated a significant amount of XRP to the president’s campaign, while Ripple founder Chris Larsen has been a major supporter of a Democratic candidate.
A New Era for Crypto Regulation?
The new administration’s stance on crypto is expected to be quite different from the previous one. The president has promised to remove the current SEC chair, who has been known for his tough stance on crypto firms. There’s also talk of dismantling “Operation Choke Point 2.0,” a program that many in the crypto industry see as an overreach of government power.
The potential appointment of a pro-crypto SEC chair could lead to a major shift in the regulatory landscape. It could mean a re-evaluation of ongoing lawsuits against crypto firms, including the one against Ripple.
It’s an exciting time for the crypto industry, and Ripple is clearly ready to play a key role in shaping the future of crypto regulation.
