- Ripple’s top-tier executives have recently arrived in Washington D.C. for a congressional meeting.
- Regulatory clarity has been a primary focus, with Garlinghouse emphasizing direct engagement.
- Ripple’s renewed interest in the U.S. has hinted at a significant company strategy shift.
More than two months after securing a pivotal victory in the lawsuit launched by the U.S. Securities and Exchange Commission (SEC). On Tuesday, a seasoned team of top Ripple executives, led by CEO Brad Garlinghouse, were spotted in Washington D.C., meeting with members of Congress to discuss upcoming crypto legislation.
Garlinghouse and Team Set to Discuss Legislation with Congress
In a bid to deliberate on these proposed crypto bills, Garlinghouse is scheduled to convene with congressional representatives to deliberate on the proposed cryptocurrency legislation. Joining him in this endeavor are Chief Legal Officer Stuart Alderoty and Vice President Rob Grant, who holds the position of Global Head of Public Policy at Ripple.
Garlinghouse has underscored the necessity of direct interactions with lawmakers to obtain regulatory lucidity. He has expressed, “Can’t get regulatory clarity without actually engaging with the elected officials who are proposing bills!”
The U.S. House Republicans introduced revisions to the Financial Innovation and Technology for the 21st Century Act back in July. Meanwhile, another significant legislative proposal, the ‘Clarity for Payment Stablecoins Act of 2023’ is currently striving to garner adequate support from members of the U.S. Congress.
Ripple’s Return to U.S. Market
The Ripple team’s presence in the nation’s capital marks a promising advancement for the cryptocurrency landscape, potentially reigniting the company’s involvement in the pivotal U.S. market.
Due to the ongoing SEC lawsuit, Ripple’s representatives had minimal engagement with U.S.-based clients and partners. However, the favorable ruling by the judge has now paved the way for renewed engagement with stakeholders within the U.S. ecosystem.
On the Flipside
- Not all members of the U.S. Congress agree on the proposed cryptocurrency bills.
- The SEC’s lawsuit against Ripple has already significantly impacted the cryptocurrency industry.
Why This Matters
This Ripple executive team’s visit signifies a pivotal step towards achieving regulatory clarity in the industry. These deliberations with congressional members bear the potential to shape the future regulatory framework, affecting not only Ripple but the entire crypto sphere.
To learn more about a related event in the digital currency market, check out this article:
Uncle Sam’s Stablecoin Rodeo: Roping in the Digital Currency Market
For the latest developments involving Ripple and Grayscale that left Gensler in an awkward silence, read here:
Ripple and Grayscale Triumphs Leave Gensler in Awkward Silence