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- Ripple announced a second $25 million donation to the crypto super Political Action Committee (PAC) Fairshake on Wednesday.
- This contribution supplements the $25 million it provided to Fairshake last year.
- “Ripple will not – and the crypto industry should not – keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize,” the company’s CEO Brad Garlinghouse said.
Ripple’s $25M Donation to Fairshake PAC Fuels Pro-Crypto Political Campaigns
House Bill Offers Glimmer of Hope, But Crypto Industry and PACs Demand Broader Solutions
Ripple criticized the SEC’s way of regulating cryptocurrencies in its statement. The firm argued that the agency’s current method, which relies on enforcing existing laws rather than creating new ones, isn’t working.
SEC’s Regulatory Approach Under Fire
It also pointed out that the US needs to catch up in embracing crypto and blockchain, despite progress in Congress on comprehensive legislation to secure a promising future for American innovation, competitiveness, and growth.
Political Stakes High for Crypto in 2024 Elections
He added that the 2024 elections will be a big deal for crypto. This is because it would be a choice between candidates who support the progress of crypto and those who don’t.
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Conclusion
Ripple’s significant contributions to the Fairshake PAC underscore the crypto industry’s commitment to influencing favorable regulatory and legislative outcomes. As the 2024 elections approach, the stakes are high, and the industry’s collective efforts aim to ensure a supportive environment for innovation and growth in the US.
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