After ending 2020 facing a lawsuit from the U.S. Securities and Exchange Commission under Donald Trump’s administration, Ripple’s leadership is looking to the new year and a new U.S. President to bring a change in regulations more favorable to the firm.
According to a post on the Ripple website featuring comments from key executives, the firm is predicting the incoming Biden administration will most likely “bring a renewed focus on regulation and enforcement” in the crypto space.
“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,” the post said. “Other countries like the UK, Switzerland, Singapore and Japan are miles ahead.”
Both Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have been vocal about their criticism of the SEC’s policy of “regulation through enforcement” prior to the lawsuit.
Cointelegraph news