The digital asset industry is set to reboot regardless of the outcome of the November US elections. This opinion was expressed by Ripple CEO Brad Garlinghouse.
The entrepreneur called the current administration of President Joe Biden “hostile” to cryptocurrencies.
According to him, much will depend on who will replace Gary Gensler, who “led a reign of terror,” and the heads of other regulators as SEC Chairman.
He noted that both presidential candidates have spoken out in support of the industry. Donald Trump did this “early and very aggressively,” and Kamala Harris is generally pro-technology, being from Silicon Valley, the head of Ripple added.
Given the current regulatory pressure, Garlinghouse advised crypto startups to consider registering outside the US. Garlinghouse clarified that the industry is facing banking problems, and his personal accounts were closed, citing his prominent role in it. The entrepreneur was given five days to withdraw funds.
In an interview CoinDesk the head of Ripple admitted that we were talking about Citibank, whose client he had been for 25 years. The entrepreneur noted that the institution was frank with him, saying that connections with cryptocurrencies attract close attention from supervisory authorities.
Stay informed! Subscribe to World Stock Market in Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
