Ripple CEO: US Is Finally Unlocked

Ripple CEO Brad Garlinghouse has told Fox Business that the company is seeing a change in domestic interest

"The United States is finally unlocked, and I think that people are underestimating how big that change is," he said

This comes after the U.S. Securities and Exchange Commission recently dropped its appeal against Ripple

New regulatory developments

The SEC, which was known for its hostile anti-stance crypto stance under the leadership of former Chair Gary Gensler, has moved to swiftly embrace the industry

As reported by U.Today, the new SEC leadership quickly moved to drop the SAB 121 rule which made it much more challenging for banking institutions to get involved in crypto custody

According to Garlinghouse, those banks that were really hesitant and really nervous about touching crypto are "leaning in" now

Catching up with the rest of the world

The SEC has also established a task force for creating clear crypto regulations

Garlinghouse has stressed that the recent developments are "a big deal" for Ripple as well as the broader industry

"We will see the US finally start to catch up with the leadership we're seeing from other markets around the world," he said

Garlinghouse has also commented on the much-talked-about stablecoin bill, noting that it will be voted on within the next four to eight weeks

XRP's legal status

The Ripple CEO has also recalled that XRP was recognized as a non-security by a federal judge, which is the opposite of what the SEC was trying to argue

He believes that the market structure bill, which will define the legal status of various cryptocurrencies, will pass within the next six months

Regulatory clarity will foster more innovation, more job creation, and more capital formation in the US, according to Garlinghouse