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- Ripple CEO Brad Garlinghouse is confident that cryptocurrency and XRP will emerge as winners in the upcoming elections.
- Crypto lobbyists and advocates have acknowledged their close involvement in drafting the FIT21 crypto bill.
- Brad Garlinghouse emphasized the growing political influence of the crypto industry in the United States.
Discover how Ripple’s CEO and other crypto leaders are shaping the future of cryptocurrency regulations in the U.S. elections.
Ripple CEO’s Strategic Lobbying Efforts
Brad Garlinghouse, the CEO of Ripple, has stated that for the first time in U.S. history, crypto voters will be a significant force in the elections. Garlinghouse is highly optimistic about the crypto industry’s success in the upcoming U.S. elections. Executives from the U.S. crypto industry continue to lobby for crypto-friendly bills. This move comes after Ripple’s recent victory in its lawsuit against the SEC.
Moreover, many crypto lobbyists and lawyers have admitted their close involvement in drafting the FIT21 crypto bill. Sheila Warren, CEO of the Crypto Council for Innovation, mentioned that her group had been working on some provisions “one and a half to two years ago.” Ripple CEO Brad Garlinghouse and Blockchain Association CEO Kristin Smith have announced an expensive lobbying campaign for pro-crypto regulations this election year. As reported by CoinOtag, the U.S. House of Representatives passed a significant bill last week, marking a peak in these lobbying efforts.
Ripple CEO Urges End to Anti-Crypto Sentiments
Brad Garlinghouse has once again called on Democrats, particularly Elizabeth Warren, to abandon their “anti-crypto army” rhetoric. He also urged a bipartisan stance on keeping innovation in the U.S. Garlinghouse’s comments come weeks after he stated that the SEC would lose the long-term XRP case. He accused the SEC of trying to create a narrative that “Ripple is a bad actor.”
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Crypto’s Political Influence in the U.S.
Over the past four years, crypto companies and investors have strategically used at least $149 million to support pro-crypto regulations backed by leaders like Coinbase and Ripple. They have even elected new allies to Congress and defeated lawmakers seen as potential threats.
Lobby groups such as Coinbase, Ripple, Blockchain Association, and Crypto Council for Innovation have helped shape the legislative approach of Republicans. The FIT21 crypto bill, approved by the House, shifts some crypto oversight from the SEC to the CFTC. The crypto community views this move positively. Brad Garlinghouse noted the rising political influence of crypto. Democrats like Ro Khanna, Kirsten Gillibrand, and Richie Torres have received significant donations from the crypto industry.
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Conclusion
In summary, the crypto industry is making significant strides in influencing U.S. politics and regulations. With strategic lobbying efforts and growing political influence, leaders like Ripple’s Brad Garlinghouse are optimistic about the future of cryptocurrency in the U.S. elections. This development marks a pivotal moment for the industry, potentially shaping the regulatory landscape for years to come.
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