Crypto companies are receiving new guidance from US regulators after the Securities and Exchange Commission and the Commodity Futures Trading Commission designated 16 digital assets as assets.
Ripple’s CEO, Brad Garlinghouse, called the joint plan a “big step” after years of security that he described as politically motivated under former SEC Chairman Gary Gensler, who pushed for Ripple’s lawsuit as soon as he took office in 2021.
The crypto entrepreneur also urged Congress to enact the SEC-CFTC directive into law to prevent another Gensler violation that could harm crypto innovation and US competitiveness.
“We want to see more. We want to see this with the rules if there is another former chairman of the SEC, Gary Gensler, who I think was wrong at this time,” he said. he said Garlinghouse on ‘Mornings with Maria’ this morning.
“We want to make sure we don’t have another Gary Gensler moment where he tries to use political principles, not what’s good for the United States, so we have to see these things come together,” he said.
On the CLARITY Act, Garlinghouse explained that the administration of the law was confusing but encouraging, with those most affected trying to break the law. He predicted the bill would pass by the end of May.
“From this White House, we see incredible leadership to move this forward,” Garlinghouse said. “I think we’ll get there. It’s just going to take longer than we thought.”
The boss of Ripple said that the passage of the important market bill will not change Ripple’s business but will “open up” US banks that have been reluctant to participate in crypto and encourage more financial institutions to participate in the process.
Ripple sees portfolio growth as purchases drive new investments
Ripple continues to grow exponentially even though the crypto market is volatile. Garlinghouse also said that when the market reached 2026, Ripple’s business capital continued to grow.
Shopping for Ripple Treasury and Ripple Prime encouraged growth, he said. Ripple Treasury has exceeded expectations, providing CFOs with real money around the world and enabling instant payments across borders.
Ripple Prime also scaled, tripled its money running rate and strengthened Ripple’s position with major financial institutions, opening new counterparties and income streams.
This year, Ripple’s goal is to bring these businesses together to unlock synergies rather than start new businesses, Garlinghouse said. The company has backed this strategy with a 50% increase in people and $1 billion in revenue.
Ripple wants to expand corporate adoption, expand its lending arm, and promote the use and trust of XRP, Garlinghouse said.
