Ripple CEO Praises Trump Administration for Crypto-Friendly GENIUS Act

Ripple CEO Brad Garlinghouse publicly commended the Trump administration as the most supportive of cryptocurrency in U.S. history. This praise came as Ripple's team attended the White House for the signing ceremony of the GENIUS Act, a landmark legislation aimed at regulating digital assets. The GENIUS Act establishes a federal oversight framework for stablecoins, mandating that they be backed one-to-one with dollars or equivalent assets.

Garlinghouse's public endorsement of the administration is seen as a strategic move, given Ripple's ongoing legal battles with U.S. regulators. His tweet highlighted Ripple's presence at the White House, expressing regret for not attending in person but celebrating the event from afar. This public display of support aligns with Ripple's efforts to navigate the complex regulatory landscape in the U.S.

The GENIUS Act, signed by President Donald Trump, marks the first comprehensive digital asset legislation in the country. The law focuses on creating a regulatory framework for stablecoins, which are digital currencies pegged to the value of another asset, such as the U.S. dollar. This framework is designed to provide clarity and stability for both innovators and consumers in the digital financial sector.

Other industry leaders also welcomed the new legislation. Stuart Alderoty, Ripple's Chief Legal Officer, described the bill as a long-awaited regulatory clarity that would boost confidence in digital financial products. Paul Grewal, Coinbase's Chief Legal Officer, noted that defining how stablecoins should be backed could help maintain the U.S. dollar's global position. He highlighted the rapid growth in dollar-backed stablecoin use and suggested that regulatory certainty could drive further expansion.

Justin Sun, founder of TRON, echoed these sentiments, stating that the law provides a workable framework for innovation in the crypto sector. He emphasized the importance of properly collateralized stablecoins for both growth and user protection. The unified praise from industry leaders reflects extensive lobbying efforts and campaign support for pro-crypto candidates, indicating a shift in the administration's stance towards cryptocurrency.

For industry leaders like Garlinghouse, publicly celebrating Trump's "crypto-forward" approach is a calculated step to secure a favorable position in this new regulatory environment. The GENIUS Act represents a significant milestone in the evolution of digital asset regulation, providing a clear framework that could foster innovation and protect consumers.