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- Ripple’s CEO criticized the Securities and Exchange Commission (SEC) and called for clear regulations for cryptocurrencies in the United States.
- Many expect the likes of Solana and XRP to soon join the cryptocurrency ETF bandwagon
In the spot light Ethereum [ETH] ETFs finally received approval recently, and there has been a lot of chatter about the change in the SEC’s stance on cryptocurrencies. However, with President Joe Biden gravity Repeal of the SEC’s SAB 121 Policy As promised, things look quite uncertain right now.
Ripple’s step towards adopting cryptocurrencies
Despite the challenges and anti-crypto sentiment, ripple The $25 million investment in Fairshake underscores its dedication to advancing cryptocurrency and blockchain adoption.
Thinking about the same, Brad Garlinghouse, CEO of Ripple, recently said interview During the 2024 consensus,
“It is important for the United States to be competitive when it comes to the policy and regulatory environment in everything related to cryptocurrencies. However, the SEC and Gensler have created confusion by filing lawsuits that sometimes conflict with each other.”
Through his statements, Garlinghouse stressed that politicians who follow outdated policies may not be accepted in the evolving financial landscape that includes cryptocurrencies.
Are XRP ETFs on the horizon?
Garlinghouse also went on to discuss the ETF potential of each major cryptocurrency such as Solana [SOL], Cardano [ADA]And of course XRP.
According to the executive,
“I think it’s just a matter of time, and it’s inevitable that there will be an XRP ETF, there will be a Solana ETF, there will be a Cardano ETF, and that’s great.”
But Garlinghouse is not the only one suggesting this possibility. Recently, CNBC traded “Fast Money.” Brian Kelly He sparked a debate about X by pointing out that Solana [SOL] It could be the next cryptocurrency ETF to own in the US.
Cathie Wood, CEO of ARK Invest, echoed similar sentiments after noting that the approval of ether ETFs indicates that cryptocurrencies are becoming an election issue.
The role of cryptocurrencies in the US elections
These developments mean that despite SEC transgressions, the United States has made significant strides in cryptocurrency adoption. Especially in light of the upcoming presidential elections.
In fact, Garlinghouse agreed with what Wood allegedly said,
“Seeing cryptocurrencies become a presidential topic is no surprise to me.”
Political interests aside, Ripple’s CEO also believes that the SEC has been unfair towards the cryptocurrency industry, criticizing Gensler’s misguided regulatory approach. Additionally, the lack of regulatory clarity in the US is believed to be a significant barrier to entry for both institutions and individuals into the emerging digital asset market.
The CEO concluded with It helps,
“It is important that the United States catch up with other leading economies and develop sensible (and clear) rules for cryptocurrencies.”
