CEO of Ripple Embraces the Most Crypto-Friendly Congress to Date

Ripple CEO Brad Garlinghouse is optimistic about the future of the crypto industry following the inauguration of the 119th Congress.

The Ripple CEO welcomed the 119th United States Congress, praising it as ‘the most pro-crypto Congress in history’ on X yesterday.

This positive statement suggests a potential shift towards a more favorable regulatory environment for the crypto industry, as demands for clear regulations increase to ensure investor protection and spur innovation.

Anticipating Positive Developments for Crypto

Garlinghouse sees the inauguration of the most pro-crypto Congress as the start of more positive developments for the industry.

He acknowledged the growing energy and excitement within the industry, with over 200 pro-crypto advocates present in the 119th Congress.

298 Pro-Crypto Advocates in Congress

The crypto industry played a significant role in the recent U.S. election, contributing financially to various congressional candidates and PACs. This effort paid off with 298 pro-crypto advocates being sworn into the 119th Congress.

TOMORROW, January 3rd: SWC welcomes the 119th Congress and staff to the Capitol with free coffee!

Members and staff can stop by the @CompassCoffeeDC location at 82 I St SE to grab a free cup and celebrate the swearing-in of the most pro-crypto Congress in history. pic.twitter.com/mJtfBiVrmu

— Stand With Crypto🛡️ (@standwithcrypto) January 2, 2025

Congress to Address Crypto Policy Soon

The 119th Congress is expected to deliberate on crucial matters, including crypto, in the upcoming months.

Rep. French Hill, the House Financial Service Committee leader, has appointed Allison Behuniak as the policy director of the committee, indicating a focus on crypto regulation such as the FIT21 Act and stablecoin regulation.

With the FIT21 Act aiming to determine the regulatory authority over the crypto industry and stablecoin regulation focusing on stability, stakeholders like Garlinghouse believe that the pro-crypto lawmakers will introduce favorable policies for industry growth.

Disclaimer: This content is informational and not financial advice. The opinions expressed here are personal and do not represent The Crypto Basic. Readers should conduct their research before making investment decisions. The Crypto Basic is not liable for any financial losses.

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