Ripple CEO: US Presidential Election Will Change Crypto Industry

Ripple CEO Brad Garlinghouse. (Photo; Doc. Kriptomoney)

JAKARTA - Ripple CEO Brad Garlinghouse insists that the cryptocurrency industry will experience major changes, regardless of who will be elected in the upcoming US presidential election.

At the 8th Annual Washington DC Fintech Week event, Garlinghouse expressed its views on the attitude of the candidates, especially the Democratic presidential candidate, Kamala Harris, regarding crypto regulations.

According to Garlinghouse, Trump and Harris' approach to crypto assets is very different. Trump claims to be a 'crypto president' with a more aggressive attitude, while Harris and his team take a more careful and measurable approach.

Garlinghouse calls Harris a figure close to the technology industry. This makes it a reasonable choice in terms of cryptocurrency rules.

"Whatever happens, we will see reset and progress going forward. We will abandon the failed approach from the Biden administration," Garlinghouse said.

This statement was made amid criticism of Ripple for its leadership political contribution. Chris Larsen, co-founder of Ripple, recently revealed a donation of US$10 million (around Rp155 billion) in XRP to support Harris' campaign, which sparked a negative reaction from a number of crypto circles.

Even so, Garlinghouse defended Larsen's decision. The Ripple CEO emphasized that everyone has the right to support their individual candidates. Although Ripple chose not to support any of the candidates, Garlinghouse stressed that the upcoming presidential election would be crucial for the future of cryptocurrencies in the US.

Ripple's decision to remain neutral raises question marks among the crypto community considering the company is facing legal problems with the SEC, the SEC. Anyone elected, both Harris and Trump, is expected to bring significant changes to the crypto industry.