Pro-Cryptocurrency Candidates Win Congressional Seats, Indicating Potential Regulatory Changes
Ripple CEO Brad Garlinghouse, along with Grewal, called for a reevaluation of the SEC’s approach, citing regulatory overreach. Garlinghouse recently posted urging Democratic leaders to address Gensler’s actions, which he believes exceed legal authority.
Garlinghouse warned that dissatisfaction with these policies could impact voter support for Democrats, especially in swing states. He also pointed out that prominent crypto critics like Gensler and Senator Elizabeth Warren may have unintentionally fueled a “Red Reset,” potentially influencing voter sentiment toward more crypto-friendly policies.
Garlinghouse’s statements reflect concerns within the industry that regulations under Gensler’s SEC could hinder innovation in the US crypto space. He believes that a change in regulatory trends could be beneficial for the industry, consumers, and the economy.
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