Ripple CEO Brad Garlinghouse noted the requirement for suitable regulations within the crypto field after attending a White House meeting at a prominent summit.
He supported the talks between President Donald Trump and Crypto Czar David Sacks about digital asset policies because these discussions would form the basis of regulatory rules. Brad Garlinghouse noted remarkable progress since the last weeks have passed regarding developments at the speed of months.
Advocacy for fair competition in the crypto industry
Garlinghouse has long been vocal about the need for balanced regulatory policies, especially after legal challenges faced by Ripple under the previous administration. He stressed that industry players must collaborate instead of competing against one another in regulatory matters.
“We will, as we’ve always done, continue to champion the need for a level playing field,” he stated. “It was great to hear others in the room also echo this. The industry must unite to move much-needed legislation forward in the US.”
The Ripple CEO also expressed gratitude to President Trump, David Sacks, Bo Hines, White House Executive Director of the Council of Advisers on Digital Assets, and CFTC Commissioner Caroline Pham for organizing what he described as a historic event.
Industry support for Trump’s crypto-friendly stance
Following the summit, key figures in the digital asset industry praised the administration’s approach to crypto regulation. David Sacks, leading crypto policy efforts under Trump, commended the president’s commitment to innovation and fairness.
Sacks highlighted Trump’s focus on legal fairness, calling him an unwavering leader who never backs down. He also noted that the administration operates efficiently, advancing regulatory clarity at what he described as “tech speed.”
Through his executive order, Trump officially launched an initiative aligning Bitcoin and multiple cryptocurrencies with an American national strategic reserve under the supervision of the Treasury and Commerce Departments. He guaranteed the public that these actions would not affect taxpayers’ budget increases.
Bitcoin owners and the future of US crypto policy
At the event Trump reiterated his position regarding Bitcoin possession to the cryptocurrency community. At the Nashville Bitcoin conference, he noted “America should follow the rule which all Bitcoin owners understand well which is never to sell their Bitcoin.” He followed this statement with a humorous admission “I don’t know if that’s right or not.” Who the hell knows, right? Who knows? Up until now his position has proven to be accurate so let us maintain the present approach.
Industry leaders welcomed the administration’s support, with many executives criticizing the previous administration’s approach, which they argued stifled innovation and unfairly targeted digital currency firms. Legal experts, including Vanderbilt University law professor Yesha Yadav, emphasized the need for more explicit regulatory guidelines, particularly regarding enforcement and oversight.
Tyler Winklevoss, co-founder of Gemini, described the event as a historic milestone. “Yesterday was history in the making,” he wrote on social media. “The first crypto President. The first crypto summit at the White House. We are winning bigly and we are going to keep on winning until we get tired of winning—which will be never!”
Despite the summit’s excitement, Bitcoin’s price did not experience significant gains. According to CoinGecko data, the leading cryptocurrency is currently trading at $86,247, marking a 2% decline in the past 24 hours.