Ripple CEO Garlinghouse’s Big Take On SEC Lawsuit, XRP ETF, & Trump’s Checklist

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As a seasoned crypto investor with a keen eye for industry trends and regulatory developments, I find myself deeply intrigued by the insights shared by Ripple CEO Brad Garlinghouse regarding the potential implications of Donald Trump’s re-election on the crypto landscape.

Brad Garlinghouse, CEO of Ripple, discusses the implications of a possible second term for Donald Trump, touching upon the end of the SEC lawsuit, the prospective introduction of an XRP Exchange-Traded Fund (ETF), and how these events might shape the crypto industry. Garlinghouse expresses his views on Trump’s crypto policy, emphasizing that clear regulation for the crypto sector is a top priority.

Ripple CEO Insights on Donald Trump Re-Election

In a conversation with BBC on November 8, Ripple’s CEO, Brad Garlinghouse, discusses the future of XRP and cryptocurrencies following Donald Trump’s victory in the U.S. presidential election. According to a BBC video, the crypto sector appears to be one of the major beneficiaries from Trump’s second term as President. With Bitcoin reaching new record highs, Ripple has seen significant growth over the last few days and is aiming to become more mainstream through the introduction of an XRP Exchange-Traded Fund (ETF).

As an analyst, I’m sharing insights on Brad Garlinghouse’s latest comments concerning his post about a proposed 100-day cryptocurrency agenda for President Trump. This plan, if implemented, would entail the replacement of current US Securities and Exchange Commission (SEC) Chair Gary Gensler, with a focus on providing clearer regulations in the crypto space – an aspect he emphasized during his election campaigns.

Ripple CEO on the US SEC Lawsuit End

Ripple CEO said the SEC Chair Gensler has waged a war against crypto, impacting the crypto industry in the country. Meanwhile, regulators in many countries such as Japan, the UK, Switzerland, and Singapore are leaning into crypto and created clear rules allowing regulated business growth and capital flow.

He stated that regulators under the Biden administration have shown hostility towards cryptocurrencies even as they continue to grow and gain global acceptance. Furthermore, he predicts that the ongoing SEC lawsuit against Ripple will be resolved or come to an end. Judge Analisa Torres has ruled that XRP is not a security in itself, but the government agency has chosen to contest part of this decision.

Significantly, they are not contesting the portion of the ruling that declares XRP as non-security. As such, we have a strong confidence in the current U.S. legal stance that classifies XRP as a non-security.

Brad Garlinghouse finds it disconcerting that, in the U.S., only Bitcoin and XRP have clear regulatory guidance, while other prominent cryptos like Ethereum and Solana are subject to scrutiny and criticism for potential legal disputes involving each leading token.

Garlinghouse on the Need For Clear Crypto Regulations

The CEO of Ripple stated that under the leadership of Gary Gensler, the Securities and Exchange Commission (SEC) views most cryptocurrencies as securities. He illustrates this by comparing it to owning shares in Apple, where investors have shareholding and ownership rights, whereas such rights are not present in cryptocurrencies.

The key requirement is creating the needed clarity and rulemaking for crypto, with the SEC not having the authority the regulate crypto. The crypto is looking at potential launch of XRP ETF with the re-election of Donald Trump.

The legal action taken by the SEC against XRP has influenced its price increase. At present, it’s being traded at approximately $0.553, showing a rise of nearly 25% over the past 24 hours and a growth of around 9% for the week. Predictions from experts and analysts suggest that the price of XRP could reach as high as $2 during this bull market cycle.

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2024-11-09 12:04