- Ripple CEO Brad Garlinghouse says the U.S. crypto market is opening up after years of regulatory challenges.
- He credits the “Trump effect” for renewed interest in blockchain adoption in the U.S.
- Ripple’s SEC lawsuit cost $150 million and pushed 95% of its business overseas.
Ripple CEO Brad Garlinghouse has voiced strong optimism about the future of the U.S. cryptocurrency industry, anticipating a reduction in regulatory hurdles.
In a Fox Business interview, he stated that upcoming legislation and changes at the SEC and OCC will allow financial institutions to more easily participate in the crypto space, opening up new opportunities.
Garlinghouse also took to X to emphasize the significance of the U.S. reopening its crypto market. He stated that many are underestimating the impact of upcoming legislation and the reversal of previous policies, which now allow financial institutions to work with crypto.
With over four years of regulatory challenges behind them, he believes the U.S. is now positioned to regain its leadership in the digital asset space.
Ripple’s SEC Battle and the “Trump Effect”
Garlinghouse reminded viewers that Ripple was among the first crypto firms sued by the SEC. This legal battle cost Ripple $150 million and essentially halted its U.S. operations, leading to a focus on international expansion. Currently, 95% of Ripple’s customers are located outside the U.S., including major financial players like HSBC and BBVA.
Related: Ripple to SEC: Enough With Confusion—Time for Clear Crypto Rules, Not Backdoor Regulation
However, Garlinghouse sees the U.S. catching up to global markets like Japan, which have already embraced crypto. He attributes this shift partly to what he calls the “Trump effect,” referring to a more supportive regulatory stance under President Donald Trump.
“These six weeks after President Trump was elected, we signed more deals in the United States than we had in the previous six months,” he said.
Garlinghouse sees blockchain as a key tool for modernizing financial infrastructure. “You have trillions of dollars flowing cross-border globally. It’s still largely dominated by the SWIFT network, a technology developed 50 years ago,” he said. He believes blockchain will improve not only payments but also real estate and securities transactions.
What’s the Latest on Ripple’s Legal Fight with the SEC?
Despite this optimism, the SEC has not addressed the latest developments in the Ripple case. Typically, the SEC releases public statements on such matters. However, they have remained silent regarding their next steps in the ongoing legal battle with Ripple.
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Ripple’s CEO, Garlinghouse, mentioned in a video statement that the decision to drop the appeal against Ripple is pending the vote of the Commission. Meanwhile, Ripple has not dropped its cross-appeal in the Court of Appeals. It seeks to slash the $125 million fine imposed by the federal court.
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