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During speaking at the PIF conference in Miami, Ripple CEO Brad Garlinghouse harshly criticised past US administrations’ approach to cryptocurrencies, saying that the new rules represent a ‘turning point’ for industry.
Garlinghouse specifically described the Biden administration’s stance on crypto assets as a “meaningless war.”
In the last four years, “the Biden administration has pushed unfairly on crypto industry,” Garlinghouse said. In a statement, CEO said ‘Crypto is ‘digital technology’ to interpret this as resistance to the technological advancement. What does it mean to say, “We don’t like email – let’s go for war on it”. I never understood ’ That was a sense for me to be able to understand. – ’.
Garlinghouse argued that the SEC (Securities and Exchange Commission) and its former chairman, Gary Gensler, were “waging a “legal battle” rather than setting rules; this policy was driving companies out of the US.
Eight days ago, Garlinghouse saw the joint statement by the SEC and CFTC that defined 16 digital assets as “commodities” an important step,” but said it is in Congress’ legislation that will be the real solution. But the CEO, who remained optimistic about the Clarity Act, said it could be signed into law by the end of May.
But he claimed that legal clarity would “break down the wall of fear which has been blocking large banks, especially in the US — from getting into the sector.”
In a statement, Garlinghouse said Ripple’s business model has evolved independently of fluctuations in the cryptocurrency market and that the two big acquisitions last year (RippLE Treasury and Riple Prime) far exceeded expectations.
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Stablecoins are also a key factor in the integration of cryptocurrencies into the mainstream financial system, Garlinghouse said. In describing this as the “ChatGPT moment” of crypto, Garlinghouse said that “the ability for cross-border payments to be completed in seconds rather than 3-5 days thanks to stablecoins has created significant demand in the institutional world” by which it is possible.
According to Garlinghouse, $XRP “is still redefining the system of payment with its low cost, speed and energy efficiency” and highlighted the growing real-world use cases (including maintenance of land deed records in Dubai through the $xRP ledger (XRPL) and partnerships with the Guggenheim).
Ultimately, Garlinghouse concluded “2026 would be a “record year” for Ripple” and that the company would continue to bridge the gap between traditional finance and decentralized finance (DeFi)).
*This is not investment advice.
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