Ripple's CLO Stuart Alderoty has recently expressed optimism regarding U.S. crypto policy changes, highlighting positive effects on the company and the industry.
Satisfaction with the New Administration
In an interview with CNBC, Alderoty conveyed his satisfaction with changes brought by the new U.S. administration. He noted that the previous administration had waged a "war" on cryptocurrency, imposing restrictive measures that stifled innovations. However, the new administration is perceived as embracing the crypto industry and removing barriers.
Ripple's Onshore Hiring Surge Amid SEC Case
Ripple, established in the U.S. for over 12 years, is benefiting from these policy shifts. According to Alderoty, after the election, 75% of Ripple's hiring efforts, previously offshore, are now redirected back to the United States. The company is eager to expand domestically, anticipating that the U.S. can reclaim its role as a global leader in cryptocurrency technology.
Ripple’s Response to U.S. Crypto Reform
Discussing U.S. crypto reform, Alderoty emphasized three major forces shaping the landscape: President Trump's executive order, federal regulatory changes, and Congressional actions. He underscored the significance of the executive order in reaffirming the U.S.'s ambition to become the "crypto capital of the world." Alderoty also praised the efforts of SEC's acting chair, Mark Uyeda, acknowledging the past regulatory confusion. These regulatory improvements are expected to facilitate banks' engagement with cryptocurrencies.
Ripple and the broader crypto industry experience positive benefits from these new administrative changes, potentially strengthening the U.S.'s position in the sector.
