Coin World Report:
Ripple CEO Brad Garlinghouse recently announced that regardless of the outcome of the upcoming US election, the cryptocurrency industry will undergo a significant “reset”. In his speech at the Washington DC Fintech Week, Garlinghouse criticized the current government’s unfavorable stance towards digital currencies, while claiming that the industry will continue to thrive.
Will the election results impact the cryptocurrency market?
Garlinghouse compared the differing views on cryptocurrencies by political figures Donald Trump and Kamala Harris. He pointed out that while Trump strongly supports cryptocurrencies, Harris, though supportive of the technology, is not as outspoken about her views on digital currencies.
What legal challenges does Ripple face?
In addition to discussing market dynamics, Garlinghouse also touched upon the ongoing legal issues between Ripple and the US Securities and Exchange Commission. Lawyer Fred Rispoli expressed concerns that Garlinghouse and President Chris Larsen have not adequately addressed the allegations against them and urged for more decisive action.
Key points in Garlinghouse’s insights include:
– Regardless of political changes, the cryptocurrency industry is prepared for a reset.
– The approval of an XRP ETF is likely to have a positive impact on the market.
– The current regulatory framework is putting pressure on the cryptocurrency industry, but growth is expected as clarity emerges.
– Industry leaders are calling for the establishment of a clear regulatory environment to foster sustainable development.
Garlinghouse ends on an optimistic note regarding the industry’s trajectory, emphasizing that the reset is inevitable and may bring beneficial progress to cryptocurrencies. His statement underscores the belief in the resilience and adaptability of the cryptocurrency industry, despite the challenges posed by politics and law.
