Ripple CEO Celebrates Most Pro-Crypto Congress in US History
Ripple CEO Brad Garlinghouse highlighted the 119th U.S. Congress as a milestone moment for cryptocurrency, calling it the most pro-cryptocurrency legislative body in U.S. history.
This optimism reflects a growing belief within the industry that the emerging industry may be on the verge of significant regulatory progress.
Support crypto conference sparks optimism about blockchain innovation
On January 3, Garlinghouse expressed his enthusiasm for the new congressional term, highlighting the energy surrounding this critical shift. His comments echoed the sentiment of the booming pro-crypto movement fueled by recent election victories.
“Today, here in the United States, we welcome the 119th Congress—better known as the most pro-cryptocurrency Congress in history. The journey has only just begun, but you can’t deny that the industry is already filled with energy and excitement. Let’s get started Just work,” Garlinghouse point out.
Cryptocurrency advocacy group Stand With Crypto also expressed optimism, celebrating 298 pro-cryptocurrency MPs elected from both political parties. This diverse coalition includes first-time representatives and experienced policymakers committed to advancing blockchain innovation.
“SWC welcomes the 119th Congress: the most pro-cryptocurrency convention in history. We look forward to a productive year as 298 pro-crypto legislators are sworn in today. The future is bright!”, with Cryptocurrency Station together wrote on X.
The rise of pro-cryptocurrency lawmakers is partly due to strong support from the industry. During election cycles, political action committees (PACs) like Fairshake raises more than $200 million to support candidates Advocate for policies that are conducive to innovation. Major contributors include Coinbase, Ripple and Jump Crypto, as well as Well-known investors such as Andreessen Horowitz.
An unprecedented alliance between the cryptocurrency industry and policymakers has fueled optimism about regulatory clarity.
Many industry stakeholders believe the new Congress can advance key initiatives such as Financial Innovation and Technology for the 21st Century Act (FIT21). Senator Cynthia Lummis establishes a Bitcoin strategic reserve.
Additionally, the crypto community expects this Congress to challenge Excessive policies by regulators such as the U.S. Securities and Exchange Commission (SEC)whose behavior has previously stifled innovation. There are already several Cryptocurrency CompanyParties including Coinbase and the Blockchain Association have expressed a willingness to work with lawmakers to develop a balanced framework.
The broad support for cryptocurrency lawmakers marks a turning point in the push for clear and supportive regulation, paving the way for the United States to solidify its position as a global leader in blockchain and cryptocurrency innovation.
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