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BitcoinSistemi 2025-02-04 22:10:08

Ripple Top Legal Officer Speaks on the Future of XRP and Cryptocurrencies in the Trump Administration

With the new Trump administration settling in, the cryptocurrency industry is witnessing a significant shift in regulatory direction. Ripple’s Chief Legal Officer Stuart Alderoty expressed optimism about the recent changes, calling them a much-needed reversal from the previous administration’s stance on digital assets. According to Ripple’s legal chief, the previous administration waged an “unspeakable war” on the crypto industry, aiming to drive innovation overseas rather than within the U.S. However, since Trump took office, the new administration has taken proactive steps to remove regulatory hurdles and make the U.S. a global leader in crypto. For Ripple, this policy change has already had tangible effects. The company reported that 75% of its recent hires occurred in the US, reversing a previous trend where most talent was hired overseas. Ripple is currently actively working to expand its operations in the US. Alderoty outlined three key areas where crypto regulation is evolving: Executive Orders – Trump has made cryptocurrency a national priority, reinforcing his campaign promise to make the U.S. a hub for digital assets. The appointment of David Sachs as the administration’s “crypto chief” and the creation of a special working group are expected to play a key role in shaping policy. Regulatory Agencies – Changes at the Securities and Exchange Commission (SEC) are particularly notable. With the departure of the previous SEC chair, new acting leadership has signaled a fresh start, including the establishment of a task force to reassess the agency’s approach to crypto. One immediate step was to rescind previous accounting guidelines that made it difficult for banks to offer crypto custody services. Congressional Action – The administration has directed Sachs and his team to submit proposals for a clear regulatory framework. The goal is to provide regulatory certainty that will allow crypto firms to operate within the U.S. while protecting consumers and ensuring market integrity. Related News: After SEC, Another US Institution Completely Erases Traces of Cryptocurrency Hostility Amid ongoing policy changes, global market concerns have led to volatility in crypto prices. The Ripple executive downplayed the impact of short-term fluctuations, stating that the industry should focus on long-term adoption and real-world use cases. Ripple, which has been in business for over a decade, remains committed to building enterprise-grade blockchain solutions regardless of market cycles, according to the executive. Ripple has been in contact with David Sachs and other policymakers involved in shaping crypto regulation. The legal chief described Sachs as “inclusive” and open to industry collaboration in crafting policies that balance innovation with necessary oversight. Ripple, along with other industry leaders, is actively engaging with Congress to ensure the passage of a comprehensive market structure bill that could include regulations for stablecoins and decentralized finance. *This is not investment advice. Continue Reading: Ripple Top Legal Officer Speaks on the Future of XRP and Cryptocurrencies in the Trump Administration

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