Ripple’s CEO Urges Clear U.S. Crypto Regulations, Predicts Inevitable XRP ETF Despite SEC Criticism
Ripple is actively advocating for transparent and consistent regulations for cryptocurrencies in the United States, particularly in light of the SEC’s evolving policies and the potential introduction of new crypto-ETFs.
Ripple’s Ambitious Move to Drive Crypto Adoption
The company’s recent $25 million investment in Fairshake demonstrates its strong commitment to advancing blockchain technology, despite facing regulatory challenges. This strategic move aligns with Ripple’s mission to accelerate global crypto adoption.
Read Also: Trader Sees LUNC Poised for Potential Rise, Eyes Key Dates
During an interview at Consensus 2024, Ripple CEO Brad Garlinghouse emphasized the importance of the U.S. enhancing its policy and regulatory framework for the crypto sector.
Garlinghouse highlighted the necessity for the U.S. to establish clear and consistent crypto regulations to remain competitive, citing the confusion caused by the SEC’s conflicting lawsuits. He emphasized the significance of modernized policies to keep pace with the evolving financial landscape, particularly in the crypto industry.
Introduction of XRP and Other Crypto-ETFs
Discussions about the potential introduction of ETFs for XRP, Solana [SOL], and Cardano [ADA] are gaining momentum. Garlinghouse expressed confidence that these developments are inevitable, stating that the introduction of ETFs for these cryptocurrencies is just a matter of time and would be beneficial for the market.
This sentiment is echoed by other financial experts. Brian Kelly, a trader on CNBC’s ‘Fast Money,’ suggested that Solana might soon have its own spot ETF in the U.S. Similarly, Cathie Wood, CEO of ARK Invest, pointed out that the approval of Ethereum ETFs signifies broader acceptance of crypto investments.
Crypto’s Impact On U.S. Elections
The increasing influence of cryptocurrencies on political discussions, especially with upcoming elections, is noteworthy. Garlinghouse acknowledged the growing political interest in crypto and emphasized the need for regulatory clarity, criticizing the SEC’s approach under Gary Gensler and highlighting the challenges faced by institutional and individual investors due to the lack of clear regulations hindering market growth.
Garlinghouse concluded by urging the U.S. to develop sensible and transparent rules to keep up with global economic leaders in the crypto space.
Read Also: Popular Tap-2-Earn Game Hamster Kombat Heads to TON Blockchain
Conclusion
Ripple’s proactive approach to regulatory clarity and its substantial investment in blockchain technology highlight the ongoing progress in the crypto industry. As discussions about crypto-ETFs and regulatory policies continue, the intersection of cryptocurrencies and U.S. politics emphasizes the need for modernized regulations that support innovation and market growth. The future outlook suggests that more comprehensive and clear guidelines will be vital for sustained progress in the digital asset market.
Follow us on Twitter, Facebook, Telegram, and Google News.
Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
