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Ripple executives have expressed strong support for Paul Atkins, nominated by President-elect Donald Trump to lead the SEC, anticipating a shift towards a more crypto-friendly regulatory environment. CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty believe that Atkins, alongside commissioners Hester Peirce and Mark Uyeda, will restore common sense and investor protection to the agency, moving away from the stringent policies of outgoing Chair Gary Gensler. This leadership change is seen as a pivotal moment for fostering innovation and economic growth in the digital asset space.
Judges have consistently ruled that cryptocurrencies like XRP are securities, a stance Ripple CEO Brad Garlinghouse disputes, arguing for clearer regulations tailored to digital assets. The bipartisan FIT21 bill aims to shift some regulatory authority from the SEC to the CFTC, addressing gaps in oversight while ensuring consumer protections. Despite skepticism from major financial figures, Garlinghouse emphasizes the need for a supportive regulatory environment to foster innovation in the U.S. crypto market.
In the 2024 election, the cryptocurrency industry significantly influenced outcomes, contributing $48 million to political action committees that supported pro-crypto candidates. Ripple CEO Brad Garlinghouse noted that crypto-backed super PACs played a crucial role in educating voters, leading to victories for 85% of the 62 candidates backed by the industry. The push for clearer regulatory frameworks continues, with bipartisan support for legislation like FIT21, which aims to shift more regulatory authority to the CFTC.
President-elect Donald Trump has nominated Paul Atkins as the next chair of the U.S. Securities and Exchange Commission (SEC), signaling a shift from Gary Gensler's enforcement-heavy approach to a more collaborative and innovation-friendly regulatory environment. Atkins, a former SEC commissioner and founder of a consulting firm advising crypto companies, is expected to bring clarity and support to the cryptocurrency industry, which has faced uncertainty under strict regulations. His nomination has already positively impacted the crypto market, with Bitcoin surpassing $100,000 following the announcement.
XRP and XLM have experienced significant price declines as investors take profits after recent rallies. XRP fell 6% to $1.35, with $1.5 billion in profits realized by holders, while Stellar Lumens dropped 11.1% to $0.4383 after a 366.3% surge in the past month. Analysts warn that further corrections could occur if broader market trends continue.
The parliament of the Swiss canton of Bern has approved a motion to study the feasibility of Bitcoin mining, despite opposition from the Government Council. The report will explore potential energy sources, collaboration with local miners, and the impact on grid stability, drawing inspiration from Texas's energy policies. Proponents argue that Bitcoin mining could attract jobs and promote renewable energy, while critics highlight concerns over energy consumption and market volatility.
The parliament of the Swiss canton of Bern has approved a motion to commission a report on the feasibility of Bitcoin mining, despite opposition from the Government Council. The report will explore potential energy sources, collaboration with local miners, and the impact on grid stability, drawing inspiration from Texas's energy policy.Supporters view this as a significant victory, aiming to attract mining companies and promote renewable energy use. The Government Council raised concerns about energy consumption and market trends, while Switzerland continues to maintain a pro-crypto stance, with notable support from figures like Ripple CEO Brad Garlinghouse.
Ripple CEO Brad Garlinghouse expressed optimism about a more pro-crypto Congress following the upcoming election, regardless of the outcome. He criticized the current administration's approach to crypto regulation, highlighting a need for a reset and encouraging fintech startups to incorporate outside the U.S. Garlinghouse also endorsed John Deaton, who is challenging Sen. Elizabeth Warren, known for her critical stance on the crypto industry.
Ripple CEO Brad Garlinghouse will address the ongoing legal battle with the SEC and the upcoming presidential election at DC Fintech Week in Washington, D.C. His discussion will cover Ripple's recent partial victory in the lawsuit, the SEC's appeal, and the company's entry into the stablecoin market with Ripple USD (RLUSD). Garlinghouse will also highlight his contributions to the Fairshake pro-crypto political action committee, emphasizing Ripple's influence on U.S. crypto regulation.
Ripple CEO Brad Garlinghouse asserts that the launch of an XRP exchange-traded fund (ETF) is "inevitable," following a prolonged legal battle with the US Securities and Exchange Commission over the classification of securities. He highlighted the significant demand for cryptocurrency investments, noting that since the approval of Bitcoin ETFs in January, $17 billion has been invested, marking it as the fastest-growing ETF in history.
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