Brad Garlinghouse Predicts End of Hostile Crypto Regulation in the US

Ripple CEO Brad Garlinghouse predicts no return to hostile crypto regulation in the US.

The cryptocurrency industry will not revert to hostile regulation even with a change in administration at the White House, according to Ripple CEO Brad Garlinghouse at the DC Fintech Week conference, reports The Block.

“The ship has sailed. You can’t put the genie back in the bottle in the United States,” he noted.

Garlinghouse pointed out that the current president, Donald Trump, promised to make the US the “crypto capital of the world” and has connections with digital assets.

Criticism of TradFi

The Ripple chief also criticized traditional finance (TradFi), calling it “hypocritical” regarding crypto companies’ access to master accounts at the US Federal Reserve.

He emphasized that the crypto industry should adhere to the same AML/KYC standards as TradFi. In return, it should be granted equal access to financial infrastructure.

“You can’t demand one thing and then fight against another. It’s insincere,” Garlinghouse added.

Regulatory Outlook

The Ripple CEO remains optimistic about legislation for digital assets. He noted that the House of Representatives has already passed its version of the bill, and there is a competing document in the Senate.

The legislative process has slowed, but Garlinghouse is confident of success.

“The industry needs clarity, which Ripple has already achieved. We had to obtain it through a $150 million lawsuit and a federal judge. We believe the entire sector deserves the same clarity, and we will fight for it,” he concluded.

Back in August, the US Second Circuit Court of Appeals approved the settlement between the Securities and Exchange Commission and Ripple Labs, ending the litigation that began in 2020.