Ripple CEO Brad Garlinghouse is excited about the latest shift toward the U.S crypto space.
Yesterday, David Sacks, the newly appointed Crypto Czar, led a press conference on Capitol Hill along with a couple of congress members to talk about how they plan to push for clear regulation to operate digital assets like Bitcoin and XRP. Garlinghouse called it a “100% big deal.”
The CEO is especially glad to see that Congress members from the Senate Banking, House Financial Services, Senate Agriculture, and House Agriculture Committees are teaming up to take crypto seriously. He says this kind of unity is rare and signals real progress.
“Having the Chair of Senate Banking, the Chair of House Financial Services, the Chair of Senate Ag, and the Chair of House Ag join the Crypto Czar to commit to passing legislation for crypto clarity is 100% a big deal (and something we haven’t seen before),” he said in a tweet on X.
Meanwhile, people are talking about whether XRP might be included in the national reserve list. Although there are reports that discussions are ongoing about it, there is no official confirmation yet.
At the press conference, Sacks talked about creating a Bitcoin Strategic Reserve, which is an idea that President Trump repeatedly discussed during his campaign last year.
This plan sounded like a win for Bitcoin, but some were surprised when Sacks kept saying “digital assets” instead of just Bitcoin. This raises the question of whether the reserve is exclusive to Bitcoin or will it encompass other forms of cryptocurrency.
Sacks also talked about the role of stablecoins. He believes they could strengthen the U.S. dollar and even help lower long-term interest rates. He noted that tying digital currencies to real-world assets like the dollar could make global finance more stable and increase demand for U.S. government bonds.
Sacks also criticised the SEC’s unclear stance on crypto regulation. He said many companies have been forced out of the country due to unclear laws. He pointed at the FTX collapse situation in the Bahamas, arguing that strong U.S. regulations could have prevented it. Crypto businesses need clear rules, not endless lawsuits, he said
With lawmakers and crypto leaders now working together, the U.S. might finally be at a turning point.
