Ripple CEO Discusses Legal Wins and Future of Crypto ETFs

Ripple's CEO Brad Garlinghouse shared insights on cryptocurrency regulation and Ripple's legal battles with the SEC on Bloomberg TV’s “Bloomberg Crypto.” He criticized the SEC's regulation-by-enforcement strategy, leading to legal disputes rather than clear rules. Despite these challenges, Ripple has scored significant legal wins, reinforcing Garlinghouse's hope for regulatory clarity through court decisions or new laws from Congress.

Garlinghouse hailed the approval of Bitcoin spot ETFs as a win for the crypto sector. He sees these ETFs as enhancing market stability and investor safety, predicting the launch of more such ETFs, possibly including an XRP ETF. This move is seen as responding to investor demands for more diverse crypto market access.

The Ripple CEO emphasized the need for the U.S. to lead in crypto regulation ahead of the 2024 elections. He pointed out America's delay in setting clear crypto rules compared to other countries. Ripple is part of a super PAC supporting candidates who favor crypto and innovation, showcasing the effort's bipartisan approach. He specifically noted John Deon's run against Elizabeth Warren as a sign of growing political backing for crypto-friendly policies.

Garlinghouse countered claims by critics like Senator Elizabeth Warren that the crypto industry avoids regulations such as KYC and AML. He argued that most in the sector comply with existing laws and are open to following clear regulations, challenging the idea that the industry seeks to bypass these rules.

Ripple’s recent moves, including acquiring Standard Custody, aim to bolster its custody solutions for big clients. Garlinghouse highlighted custody services as crucial for crypto's wider acceptance, citing partnerships with major financial institutions as proof of Ripple's progress.