Ripple Founder Chris Larsen Hopes Kamala Harris Can Change US Crypto Policy Directions

Ripple founder Chris Larsen supports Kamala Harris in the 2024 US presidential election. (Photo; Doc. CoinRank)

JAKARTA - As heated up the debate over crypto regulation in the United States, Ripple founder Chris Larsen voiced his hope that Vice President Kamala Harris could bring change to crypto policy deemed to have deviated under President Joe Biden's administration.

In his latest interview with CNBC, Larsen strongly criticized the current US approach to cryptocurrencies which he calls "war against crypto." He highlighted the need for a more pro-growth approach to maintain the US position in the industry at the global level.

As a form of support, Larsen donated 10 million XRP or about 10 million US dollars (IDR 155 billion) for Harris' campaign. He expressed his belief that Harris's economic vision is more innovative and supports US dominance in the global market. The message of the economy really gives hope. This is a message that encourages innovation and ensures that major American players can lead in their industry," said Larsen.

Larsen stressed that Biden's campaign currently pays less attention to crypto potential. According to him, many discussions occur with figures who have the potential to enter Harris administration. This shows that Harris's team is not only focused on crypto but also listening to business sectors in general.

There are many meetings with people who might fill the position in Harris administration. What is often heard is that the previous government was too anti-business and created a kind of 'class war', Larsen explained. He believes Harris's approach will be different.

In addition, Larsen did not miss the opportunity to criticize the Chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, whom he calls "the worst public official in the country." Gensler, known for its strict approach to crypto regulation, has often been criticized for prioritizing enforcement of the rules rather than providing clear guidelines for crypto companies. This uncertain SEC policy is considered to create an environment that hinders the growth of the US crypto industry.

Ripple's case involving XRP status as a security example of this collision. For Larsen, the SEC's unfavorable stance in the development of blockchain technology in the US is a great opportunity to miss. With a different approach from a more pro-novative government, he hopes the US can return to being the center of global blockchain development.