Republican

Biden

Impact

<p>The Biden administration was challenging for Ripple Labs. The company faced tough legal battles, especially with U.S. regulators like the SEC. However, things are shifting with the election of Republican leader <a href="https://coinpedia.org/news/donald-trump-wins-2024-us-election-crypto-voters-play-a-key-role-in-victory/" target="_blank" rel="noreferrer noopener">Donald Trump</a>, who positioned himself as a crypto supporter during his campaign. Ripple’s token, XRP, has seen a remarkable rise, going from $0.5031 to $1.1277—a 124.15% increase—in just two weeks following Trump’s win.</p>   
<p>In a recent interview with a major global media outlet, Ripple CEO Brad Garlinghouse shared his optimistic view on the future under Trump. Here’s what he had to say.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/MorningsMaria/status/1859227696632394052 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-why-cross-border-payments-need-reform">Why Cross-Border Payments Need Reform</h2>   
<p>Garlinghouse stressed the urgent need for government action to fix the current cross-border payment system. He sees XRP as the ideal solution to replace the “slow and expensive” process with something faster and more cost-effective.</p>   
<h2 class="wp-block-heading" id="h-is-ripple-s-legal-battle-holding-it-back">Is Ripple's Legal Battle Holding It Back? </h2>   
<p>Garlinghouse acknowledged the significant impact of Ripple’s ongoing legal battle with the U.S. SEC. He pointed out that 95% of Ripple’s customers are based outside the U.S. and expressed doubt about the company’s ability to regain its U.S. user base without clearer regulations.</p>   
<p><strong>What the U.S. Can Learn from Other Countries</strong></p>   
<p>Garlinghouse compared the U.S.’s regulatory challenges with the success of countries like Japan, the UK, and Switzerland, where crypto regulations are clearer and more supportive. He emphasized that regulatory clarity is key if the U.S. wants to lead in the crypto space.</p>   
<h2 class="wp-block-heading" id="h-trump-s-influence-on-crypto-regulation-nbsp">Trump’s Influence on Crypto Regulation&nbsp;</h2>   
<p>During his campaign, Trump promised to overhaul the <a href="https://coinpedia.org/cryptocurrency-regulation/cryptocurrency-regulation-in-the-usa/" target="_blank" rel="noreferrer noopener">country’s crypto regulations</a>. Garlinghouse, like many others in the industry, believes Trump has the ability to bring clarity to crypto regulations and unlock the sector’s potential.</p>   
<p>Garlinghouse also criticized the U.S. SEC and the Commodity Futures Trading Commission (CFTC) for not fully understanding the unique nature of the crypto industry. He urged these regulatory bodies to adopt a more constructive role moving forward.</p>   [post_titles_links postid="383147"]   
<h2 class="wp-block-heading" id="h-a-crystal-clear-future-for-crypto">A Crystal Clear Future for Crypto? </h2>   
<p>In the interview, Garlinghouse mentioned a private meeting between Trump and Coinbase CEO Brian Armstrong, where they discussed making the U.S. a global leader in digital assets. Garlinghouse expressed optimism that the country could become a central hub for <a href="https://coinpedia.org/beginners-guide/what-is-blockchain/" target="_blank" rel="noreferrer noopener">blockchain technology </a>and crypto within the next five to ten years.</p>   
<p><strong>If Trump delivers on his promises, the U.S. might soon find itself at the center of a global digital asset revolution.</strong></p>

New Era for Crypto Regulation in US With Trump’s Win, Claims Ripple CEO

Table of Contents

CoinPedia News

Other articles published on Nov 21, 2024

Shoe Carnival Reports Q3 Fiscal 2024: Adjusted EPS at $0.71, Revenue Miss

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

FTX to Begin Paying Creditors and Customers by Early 2025

This Kaspa (KAS) Price Level Could Trigger a 39% Rally

Worldcoin (WLD) at Crossroads: Breakout or Breakdown?

Weekly Article Recap: 11/11-11/15

Join our free newsletter for daily crypto updates!