tl;dr
Brad Garlinghouse, CEO of Ripple Labs, criticized Senator Cynthia Lummis for canceling a scheduled meeting and not rescheduling, despite her state's openness to cryptocurrencies and her role as Chair of the Digital Assets Subcommittee. Garlinghouse is heading to Washington to advocate for improved c...
Brad Garlinghouse, CEO of Ripple Labs, has publicly criticized Senator Cynthia Lummis for canceling a key meeting and failing to reschedule it, despite her prominent role as Chair of the Digital Assets Subcommittee and her state's welcoming stance towards cryptocurrencies. Garlinghouse urges Senator Lummis to take a leadership position on crypto legislation, particularly regarding stablecoins, as he heads to Washington to champion sensible pro-crypto policies.
The cancellation of the scheduled meeting raises concerns about Congressional reluctance to engage directly with crypto industry leaders amid heated debates over regulatory approaches. While some experts interpret the cancellation as a signal of deeper political challenges, others believe it may simply be due to scheduling conflicts. Regardless, Garlinghouse remains committed to pushing for clearer regulatory rules as the crypto sector grows rapidly.
Garlinghouse emphasized the importance of the U.S. maintaining its leadership role in cryptocurrency innovation, aligning with the current administration's goals. He expressed optimism that elected officials will recognize crypto as a diverse, multichain industry worthy of thoughtful regulation.
Additionally, the recent launch of XRP futures by CME Group marks significant progress in the institutional adoption of cryptocurrencies. However, the delay in approving the GENIUS Act might impede legislative advances until after the midterm elections, a prospect that some industry observers worry could stall momentum in crypto regulation.