Regulation
Ripple CEO Garlinghouse weighs in on Crypto’s election win and XRP lawsuit
CEO of Ripple Brad Garlinghouse is very confident about the victory of the crypto industry in the American elections this year because “for the first time in U.S. history, crypto voters will be a significant force in this year’s elections.” The moves come as U.S. crypto industry executives push for pro-crypto bills and the CEO of Ripple spoke about his victory in the Ripple versus SEC trial recently.
In addition, many cryptocurrency lobbyists and lawyers acknowledge having been closely involved in the drafting of the project. FIT21 crypto invoice. Sheila Warrenexecutive director of the Crypto Council for Innovation, said this week that her group worked on some of the provisions “a year and a half or two years ago.”
Ripple CEO and other executives push for pro-crypto regulations
Brad Garlinghouse, CEO of Ripple, and Managing Director of the Blockchain Association Kristin Smith revealed a costly lobbying campaign during this election year for pro-crypto regulations. The strategy culminated last week with the U.S. House of Representatives passing a bill backed and written by the crypto industry.
Brad Garlinghouse once again asked Democrats to give up that of Elizabeth Warren rhetoric from the “anti-crypto army” and take a bipartisan stance on maintaining innovation in the United States.
“Democrats – it’s not too late to abandon Elizabeth Warren’s “anti-crypto army” rhetoric and take a bipartisan stance with your Republican colleagues on innovation – this should never have been political in first place. “
Garlinghouse The comments came weeks after he said the SEC was going to lose the Ripple v. SEC case in the long run despite appeals and other arguments. He said the SECOND attempted to settle the lawsuit to “create a narrative that Ripple was a bad actor.”
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Crypto elections in the United States?
Crypto companies and investors have strategically used at least $149 million over the past four years for pro-crypto regulation supported by leaders such as Coinbase and Ripple. They even elected new allies to Congress and defeated lawmakers seen as potential threats.
Coinbase, Ripple and advocacy groups such as the Blockchain Association and the Crypto Council for Innovation helped House Republicans craft the legislative approach. The FIT21 crypto bill passed the House to shift some crypto oversight from the SEC to the CFTC.
Brad Garlinghouse said crypto grew politically to “provide a perspective on all things constructive and positive in this industry.” Democrats such as Ro Khanna, Kirsten Gillibrand, and Richie Torres are prominent Democrats thanks to massive donations from the crypto industry.
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Judge Torres’ decision in FIT21
CoinGape reported earlier that a section of the crypto bill is similar to that Judge Torres ruled that XRP is not itself a security. The crypto bill excludes claims that an investment contract asset is a security.
“A digital asset sold or transferred or intended to be sold or transferred under an investment contract is not and does not become a security by reason of its sale or transfer under that investment contract “, we can read.
XRP Price fell by 2% in the last 24 hours, with the price currently trading at $0.528. The 24-hour low and high are $0.521 and $0.539, respectively. However, trading volume increased by 25% in the last 24 hours.
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