Ripple CEO Brad Garlinghouse Discusses Donald Trump's Support for Cryptocurrency, Criticizes SEC's Approach to Crypto Regulation

CEO Brad Garlinghouse discussed Donald Trump's support for cryptocurrency, where Trump has positioned himself as a "crypto advocate" during his campaign.

Ripple CEO Brad Garlinghouse recently discussed Donald Trump's support for cryptocurrency and the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

In an interview with BBC, Brad highlighted the contrasting approaches to cryptocurrency regulation globally. Countries like the UK, Switzerland, and Singapore have adopted a more welcoming stance, establishing clear regulatory frameworks that have fostered the growth of the crypto industry. On the other hand, the U.S. government, particularly under the Biden administration, has taken a more hostile approach, creating challenges for the industry.

Brad emphasized the need for clearer regulations in the U.S. While Bitcoin and XRP have some regulatory clarity, many other cryptocurrencies, like Ethereum and Solana, remain in a “gray area.” This lack of clarity makes it difficult for the industry to move forward. Brad advocates for clear, well-defined regulations—similar to those in the UK or Japan—so that the crypto industry can follow the rules without fear of uncertainty.

He also criticized the SEC under Gary Gensler for trying to regulate crypto through enforcement actions rather than creating formal, clear rules. He argues that cryptocurrencies, unlike traditional securities, do not provide ownership rights or governance rights, so they should not be classified as securities.

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