Ripple Predicts Joe Biden Admin Will Ease Regulations on Crypto

The General counsel for Ripple Stu Alderoty has made a prediction amid the SEC lawsuit. According to Alderoty, he hopes Joe Biden’s administration will be friendly to cryptocurrency and its regulations.

Ripple’s prediction came during its ongoing lawsuit. Henceforth, Ripple is yet to face a lawsuit for its alleged unlicensed securities trading for its XRP asset.

Ripple predicted on its official website aiming for Biden’s administration to bring a new focus to regulate cryptocurrency.

Team Ripple said in a post,

As we’ve seen, a lack of a clear regulatory framework over the last four years in the U.S. especially has left fintech and blockchain players in a state of limbo. Other countries like the UK, Switzerland, Singapore, and Japan are miles ahead.

Prior to this, Ripple CEO Brad Garlinghouse and Co-Founder Chris Larsen made random remarks over the SEC criticism. As a result, they plan to possibly relocate to other crypto-friendly countries.

Alongside the above-mentioned, Garlinghouse has applauded Biden for nominating Gary Gensler as the SEC’s chairman.

According to Ripple, the company is looking forward to working with the SEC. While it may be true, XRP cooperation with SEC will help channel blockchain and crypto innovation in the US.

Additionally, Ripple’s late Co-Founder Jed McCaleb has sold over 28.6 million XRP out of his 9.5 billion XRP received in 2014.