Ripple CEO Brad Garlinghouse has called on U.S. regulatory authorities to provide clear cryptocurrency regulations, emphasizing the need for collaboration with other growing economies to help develop rules to govern the country's cryptocurrency sector.

Garlinghouse's Appeal for Regulatory Clarity

Garlinghouse's appeal comes at a critical time as U.S. lawmakers face pressure to update and clarify cryptocurrency regulations. The recent overturning of the current rules by the House of Representatives highlights the growing importance of cryptocurrency in the U.S. political landscape.

Ripple's Support for Crypto-Friendly Policies

Ripple's Chief Legal Officer, Stuart Alderoty, stated that crypto has become a major pivotal issue in the 2024 elections. Alderoty added that Ripple will continue to support the policies and policymakers that move the U.S. forward, emphasizing the need for the U.S. to catch up to other major global centers that have committed to precise rules for the cryptocurrency industry.

Crypto's Increasing Acceptance in U.S. Politics

The support for cryptocurrency has gained traction in U.S. politics, with presidential candidate Donald Trump promising to make the U.S. the leading cryptocurrency hub. Senator Cynthia Lummis has also reiterated the growing support for crypto assets in Congress, stating that a pro-industry coalition is forming.

Ripple's Commitment to Crypto Adoption

Ripple has demonstrated its commitment to the progress and adoption of crypto and blockchain technologies by contributing $25 million to Fairshake, a crypto super PAC. This investment sends a clear message to politicians with outdated views that their failed policies will not be tolerated.

The Financial Innovation and Technology for the 21st Century Act (FIT21)

The Republican-favored crypto bill, FIT21, has become a significant topic of discussion amid the upcoming 2024 election. The bill seeks to clarify the treatment of digital assets sold under an investment contract, offering a clear framework for classifying and regulating digital assets.

Ongoing Discussions on the Role of the SEC

The House Committee on Agriculture has criticized SEC Chair Gary Gensler and the SEC for their political stance on cryptocurrency regulation, highlighting the XRP decision in July 2023 as a pivotal development in creating a regulatory framework and the need for clear guidelines in the cryptocurrency industry.

Ripple's CEO's call for clear crypto regulations, coupled with the growing acceptance of cryptocurrency in U.S. politics, underscores the importance of developing a comprehensive and collaborative regulatory framework to support the industry's growth and innovation and position the U.S. as a leader in the crypto space.