Brad Garlinghouse praised the 119th US Congress as pro-Crypto and hints that pro-Crypto rules will be passed by this Congress.
The U.S. Congress is a legislative branch part of the U.S. Government. This government body, composed of leaders from different parties, is responsible for making new laws. In the present time, the majority of congressmen & Congresswomen are becoming supportive of cryptocurrencies.
On 4 Jan 2024, Ripple CEO Brad Garlinghouse took to X (formerly Twitter) to share his thoughts on the current situation of Congress and said that the 119th Congress is now ProCrypto.
He also added that this is just a beginning phase for the crypto sector and said that we can’t ignore the top level of excitement among the crypto market players in this ProCrypto environment.
Garlinghouse indirectly asked all the crypto companies & entrepreneurs to get up to work for their corresponding businesses.
It is worth it to note that 1.3 years ago, the Ripple CEO suggested crypto entrepreneurs not start their crypto business in the US jurisdiction, citing a hostile regulatory environment. At the time, he suggested people establish Crypto business startups in Singapore, the United Kingdom, the UAE and Switzerland.
So here we can say that Garlinghouse now believes that the situation for the crypto space is now better enough in the US jurisdiction and he wants to say that entrepreneurs should look at the US jurisdiction as the priority to start a crypto business.
Impact on the crypto sector under the presidency of Trump
However, Congress & Executive Branch different branch of the US government but we can see that the situation is going to be highly favourable for the Crypto sector because one side ProCrypto Congress will support crypto-friendly & dedicated rules & laws for this innovative sector, on the other hand, the executive branch will pass those laws & rule, as there will be pro-Crypto president Donald Trump.
Read also: Beware of 6 emerging new types of crypto scams amid increasing misuse of Artificial Intelligence (AI) technology
