Brad Garlinghouse, Ripple’s CEO, has urged President-elect Donald Trump to adopt pro-crypto policies within his first 100 days. A long-time advocate for clear regulations, Garlinghouse believes Trump should prioritize regulatory changes to drive U.S. crypto industry growth.
Donald Trump secured the 2024 U.S. presidential election with 277 electoral votes and 71.2 million popular votes, capturing 51% of the total vote. Kamala Harris, his Democratic opponent, earned 224 electoral votes and 66.28 million votes, or 47.5% of the popular vote. Following Trump’s win, the crypto market surged, with Bitcoin (BTC) hitting a record high of over $75,000 before settling above $74,000.
Garlinghouse Calls for SEC Leadership Change
Garlinghouse has been vocal about the need for clear crypto regulations, particularly due to Ripple’s legal battles with the U.S. Securities and Exchange Commission (SEC). In his list of recommendations, he urges Trump to replace current SEC Chair Gary Gensler.
Trump, who previously indicated his intent to remove Gensler during the 2024 Bitcoin Conference, may follow through on this action as part of his campaign promises.
Related article: Ripple CEO Slams SEC’s Shifting Stance on Crypto Tokens
Garlinghouse suggests replacing SEC Chair Gary Gensler with pro-crypto figures such as former CFTC Chair Christopher Giancarlo, former Acting Comptroller Brian Brooks, and ex-SEC Commissioner Dan Gallagher. He believes these leaders would promote digital asset growth in the U.S.
Push for Legislative Support and Asset Classification Clarity
Alongside leadership shifts, Garlinghouse calls for bipartisan efforts to pass a comprehensive digital asset bill to address regulatory gaps. He also urges Trump’s administration to clarify classifications for key assets like Ethereum (ETH), as done for Bitcoin and XRP.
Related article: Ripple CEO Accuses SEC Chair Gensler of Hypocrisy in Cryptocurrency Regulation
This clarification would help resolve debates over whether ETH qualifies as a security, a divisive issue in the industry. Although the SEC has approved Ethereum ETFs, it has yet to definitively state that ETH is not a security.
Trump has made promises to support the cryptocurrency sector, retain the government’s Bitcoin reserves, and prevent a central bank digital currency (CBDC) from launching.
With Garlinghouse’s proposals, Trump’s administration could take significant steps to provide the clarity the crypto industry has long sought, potentially positioning the U.S. as a leader in the global digital asset market.
