Ripple CEO Brad Garlinghouse said that the cryptocurrency sector in the US will no longer return to the old, hostile regulatory 0 at the DC Fintech Week event in Washington, D. C., Garlinghouse said, “Frankly, the ship has 1 genie can no longer be put back in the bottle in the United States.” Garlinghouse's remarks come as crypto regulatory debates are revving 2 3 and Exchange Commission (SEC) Chairman Gary Gensler took a hard line against crypto during the Biden administration, filing lawsuits against several major crypto 4 SEC filed a lawsuit against Ripple in 2020, alleging that its $1.3 billion sale of XRP constituted an unregistered security 5 York Judge Analisa Torres ruled that while some XRP sales were not illegal, direct sales to institutional investors did qualify as 6 case was officially settled this 7 News: BREAKING: Things Are Calming Down in the Exchange Wars - Coinbase Makes a Listing Push on Binance Garlinghouse argued that the sector will not return to such uncertainties in the new 8 current US President Donald Trump's campaign promise to “make the US the crypto capital of the world,” Garlinghouse also noted Trump and his family's involvement in the DeFi and stablecoin project World Liberty Financial, as well as the memecoins launched during his 9 the legislative front, work on crypto regulations continues in the US 10 House of Representatives passed the regulatory bill by a vote of 294-134 this 11 the Senate version of the bill, Republicans aim to clarify the division of authority between the SEC and the Commodity Futures Trading Commission (CFTC) and define which crypto assets are not considered securities by defining the concept of “ancillary assets.” However, a proposal introduced by Senate Democrats last week, which aims to “restrict decentralized finance (DeFi) against illicit activities,” has been met with criticism from the industry and 12 all this controversy, Garlinghouse remains optimistic about the process: “The industry needs what Ripple achieved: 13 won that clarity with a $150 million lawsuit and a federal judge's 14 the entire industry deserves that clarity, and we will continue to fight for it.” *This is not investment 15 Reading: Special Comments from Ripple (XRP) CEO Brad Garlinghouse: “That Ship Has Already Sailed in Cryptocurrencies”
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