Ripple CEO Is ‘Cautiously Optimistic’ About Crypto Regulation

• Brad Garlinghouse addressed the regulatory clarity for crypto in the US.
• The CEO of Ripple expressed that he is “cautiously optimistic” about a breakthrough for crypto regulation in 2023.  
• Garlinghouse addressed that support is pouring in from many leaders in the US.

With an optimistic tone, Brad Garlinghouse, the CEO of Ripple, took to Twitter crypto space to address the regulatory clarity for crypto in the US. The CEO of Ripple expressed that he is “cautiously optimistic” about a breakthrough for crypto regulation in 2023.  

While Ripple’s case with SEC is still ongoing, Garlinghouse addressed that support for crypto regulation is “bipartisan and bicameral.”

The CEO of Ripple continued to specify the name of some of the leaders who support the blockchain world and has realized the need for clarity such as Congressman Patrick McHenry, Congressman Tom Emmer, US Senator Debbie Stabenow, and many more.

Highlighting some of the previous bills, Garlinghouse addressed that the Responsible Financial Innovation Act (RFIA) and the Digital Commodity Exchange Act (DCEA) provides better regulation clarity for stablecoins and Centralized Exchanges(CEX).

Meanwhile, bills such as the Securities Clarity Act provides a clear definition of digital asset security.

Garlinghouse then warns that every bill will not be perfect and everyone will be satisfied with the bill. However, the CEO of Ripple mentions that these crypto regulatory proposals will only provide a starting point for debate in this new Congress.

Furthermore, Brad Garlinghouse pinpoints that Singapore, Europe, Brazil, Japan, and the UK have established crypto frameworks. The lack of global coordinated standards is one of the main factors that lead to catastrophic results like the fall of FTX.

The CEO of Garlinghouse also states that 118th Congress has a historic opportunity to ensure that the US remains an innovation leader for decades to come.