Ripple and Coinbase Leaders Call for Clearer Crypto Rules

Garlinghouse and Grewal are urging the next administration to establish a crypto-friendly regulatory approach.

As the 2024 U.S. election approaches, the crypto industry is ramping up its influence, with key figures advocating for regulatory changes that could impact America’s financial future.

Prominent leaders, such as Ripple CEO Brad Garlinghouse and Coinbase Chief Legal Officer Paul Grewal, are pushing for a clear crypto regulatory framework, highlighting that millions of Americans now consider crypto as part of their financial strategy.

Kamala Harris has received significant support from tech and crypto-aligned donors. Dustin Moskovitz has contributed a massive $30 million to her campaign, while Netflix CEO Reed Hastings donated nearly $7 million. Ben Horowitz, who previously supported Trump, recently donated $2.5 million to a super PAC supporting Harris.

According to Federal Election Commission data, Harris’ outreach to Silicon Valley is paying off, with her campaign raising and spending more than double that of Trump’s campaign.

Ripple and Coinbase Leaders Call for Clearer Crypto Rules

Garlinghouse and Grewal are calling on the next administration to prioritize a crypto-friendly regulatory approach. Garlinghouse notably pointed out that millions of Americans now view crypto as an essential part of their financial plans.

Both Harris and Trump are expected to consider pro-crypto leaders for the SEC if elected. This potential shift in leadership is creating optimism within the crypto industry, with hopes for a more supportive regulatory landscape.

Grewal highlighted the urgency for regulatory clarity, warning that the U.S. risks falling behind if it delays action. He noted that other countries are aggressively pursuing opportunities that the U.S. may miss out on.

Grewal adds that over 52 million Americans now consider crypto as part of their financial lives, putting pressure on the next administration to address these demands.

Industry leaders believe that clearer crypto regulations will foster innovation and stability in the U.S. crypto market. A shift at the SEC is also anticipated, with the next administration expected to consider replacing Gary Gensler.

Gensler’s strict stance on crypto has created tension with the industry, and a shift in leadership could lead to more favorable policies.

As the crypto industry and tech sector join forces and align their resources with the upcoming election, the stakes are high. Both major candidates are open to pro-crypto appointments, and the regulatory landscape may soon shift to better support the industry’s growth and innovation.

This article is for informational and educational purposes only. It does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned.

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