Ripple CEO Brad Garlinghouse recently commented on changes in US policy towards cryptocurrencies, noting their significant importance.
New Regulatory Developments
The US Securities and Exchange Commission (SEC), previously skeptical towards cryptocurrencies, has significantly softened its stance. The new SEC leadership quickly moved to drop the SAB 121 rule, making it easier for banks to engage in crypto custody. Garlinghouse noted that now banks are less apprehensive about crypto operations.
Catching Up with the Rest of the World
The SEC has also established a task force to create clear crypto regulations. Garlinghouse stressed that these developments are a big deal for Ripple and the entire industry. He also mentioned that the stablecoin bill is set to be voted on in the coming weeks.
XRP's Legal Status
The Ripple CEO recalled that in 2023, a federal judge recognized XRP as a non-security, which contradicts the previous SEC claims. Garlinghouse hopes that within six months, a bill defining the legal status of various cryptocurrencies will be passed, fostering innovation and job creation in the US.
Regulatory changes in the US open new prospects for the crypto industry. Ripple's CEO believes that this will allow the United States to strengthen its position among global leaders.
