Ripple, a prominent blockchain firm, is gearing up for potential policy shifts at the Securities and Exchange Commission (SEC) as President Donald Trump signals his pro-crypto agenda. With Trump’s promise to replace SEC Chair Gary Gensler, Ripple sees an opportunity for more favorable regulatory policies in the United States.
Brad Garlinghouse, the CEO of Ripple, has been vocal about the need for regulatory clarity in the crypto industry. He has advocated for the appointment of a pro-crypto SEC chair, suggesting candidates like Robinhood’s Dan Gallagher, former Commodity Futures Trading Commission (CFTC) head Christopher Giancarlo, and ex-Comptroller Brian Brooks as potential nominees. Garlinghouse even took to Twitter to urge Trump to “Fire Gensler” on day one and appoint one of the suggested candidates for a more positive regulatory environment.
Gensler, who has been in office since April 2021, has been known for his tough stance on cryptocurrencies. Under his leadership, the SEC has cracked down on major players in the crypto space, including Coinbase and Ripple, for allegedly offering unregistered securities. The SEC recently reached a historic $4.5 billion settlement with Terraform Labs and its founder Do Kwon, who is currently imprisoned in Montenegro.
Critics within the crypto industry have long been dissatisfied with Gensler’s approach, with Coinbase CEO Brian Armstrong calling for the next SEC chair to withdraw “frivolous cases” and issue a public apology for the damage done to the U.S. crypto sector. The industry has also been critical of the $32 billion in fines imposed on crypto companies by U.S. regulators in 2024 alone.
Typically, the SEC chair resigns with a new administration, meaning Gensler’s departure would not occur until late January when Trump assumes office. If Gensler steps down, the SEC would be left with a 2-2 party-line split, potentially stalling further aggressive enforcement actions until a new chair is confirmed.
As Ripple prepares for potential changes at the SEC, the crypto industry is closely watching how Trump’s pro-crypto agenda will impact regulatory policies in the United States. The appointment of a new SEC chair could have significant implications for the future of cryptocurrencies and blockchain technology in the country.