Ripple president confident that lobbying will bear fruit in US elections

Ripple president Monica Long spoke on Tuesday in Amsterdam during the Money20/20 fintech conference, expressing hope that the highest office in politics is listening

Speaking to the audience in Amsterdam, Monica Long, president of the crypto firm Ripple, noted that companies in the United States have been frustrated with the lack of regulatory clarity when it comes to cryptocurrency.

This is why Ripple, along with others, has been pooling funds in the Fairshake super PAC, designed to help tackle pressing matters within the industry. Long noted that the United States has been particularly behind in setting clear rules that would allow the local industry to thrive and develop without fearing ramifications from regulators.

For example, Ripple has been targeted by the US Securities and Exchange Commission in a lawsuit. Yet, Long says she is optimistic about the upcoming US presidential elections, as both parties have started to pay attention, even if they are somewhat reluctant or not fully in agreement with the industry.

Long believes that lawmakers are finally beginning to listen, and this will translate into swifter action by regulators in establishing a clear framework for businesses to follow. According to her, much of the current hiatus in the crypto market can be traced back to 2022, when bankruptcies in major crypto firms scared investors.

In fairness, the companies that led to these events were essentially flawed and ran as personal fiefdoms. This did not help lessen US lawmakers’ intransigence in dealing with the crypto sector in general.

Although Ripple has been able to win some of the arguments against the SEC, it has still been bogged down in legal proceedings. One way out of the legal quagmire is for lawmakers to define the do’s and don’ts of crypto in the United States.

With so much at stake in the upcoming election, this is almost certain to happen. Both Joe Biden and Donald Trump are now openly courting industry figureheads, hoping to make amends for past rebuffs.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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