Ripple CEO Calls for Increased Cryptocurrency Regulation Ahead of 2024 U.S. Elections

Critics have long targeted crypto markets, with scrutiny intensifying in recent years.

Inasmuch, in an interview with Bloomberg on the 20th of February, Ripple’s [XRP] CEO, Brad Garlinghouse, addressed politicians’ lack of understanding of the crypto space.

While addressing the ongoing scrutiny surrounding the crypto space, he suggested, 

“I believe, there should be more clarity on the rules and regulations surrounding cryptocurrencies.” 

Garlinghouse added, 

“Politicians frequently make claims about digital currencies that lack factual support or evidence.”

Crypto policy shifts in the 2024 U.S. election

Unlike previous U.S. elections, in 2024, voters seem to be aligning their preferences with candidates who have favorable views on cryptocurrencies.

Remarking on the same, the CEO added,

“Ahead of the upcoming 2024 U.S. elections, Ripple has formed a super-pack to support pro-crypto candidates.”

The timing of these comments coincides with pro-XRP lawyer John Deaton’s announcement of his Senate campaign, running in opposition to Elizabeth Warren.

​​Warren’s recent unfavorable stance on virtual assets, coupled with a proposed bill that threatens investments for numerous crypto holders, has drawn significant criticism from the crypto community.

After analyzing such bottlenecks, Garlinghouse emphasized, 

“I think it’s incredibly important that the U.S. regain a leadership position around crypto regulation.”

Voters have a different game plan

In the United States, crypto voters with up to 1.9 million votes from crypto supporters are poised to have a significant impact in the upcoming elections.

Brad Garlinghouse noted,

“The vast, vast, vast majority of people who are in the crypto industry are good actors who want to play by the rules.”

A report from Forbes highlighted that 1 in 5 Americans, totaling 52 million people, now own digital assets. Thus, it’s strategically advantageous to align with crypto-friendly policies to secure victory.

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