Ripple executives support Trump's SEC nominee

Ripple (CRYPTO:XRP) executives have voiced their support for Paul Atkins, who has been nominated by President-elect Donald Trump to lead the U.S. Securities and Exchange Commission (SEC).  

This nomination is seen as a pivotal moment for the cryptocurrency sector, as Atkins is recognised for his favorable stance towards digital assets.  

“An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency,” Brad Garlinghouse, Ripple's CEO, expressed optimism on social media. 

He emphasised the need to end what he described as the "prohibition era" on cryptocurrency, advocating for restored freedom of choice and innovation in the industry.  

Garlinghouse’s comments reflect a broader hope among crypto advocates for a regulatory environment that encourages growth rather than stifles it.  

Alongside Garlinghouse, Ripple’s Chief Legal Officer, Stuart Alderoty, reiterated this sentiment.  

He noted that a leadership team comprising Atkins, Hester Peirce, and Mark Uyeda would enhance investor protection and rational policymaking within the SEC.  

“The triumvirate of Atkins, Peirce, and Uyeda at the SEC will not only bring common sense back to the agency but true investor protection as well,” Alderoty stated.

This perspective aligns with Peirce and Uyeda’s ongoing calls for clearer regulations that facilitate compliance and innovation in the cryptocurrency space.  

The anticipated changes come as current SEC Chair Gary Gensler announced his resignation effective January 20, 2025.  

Gensler’s departure is expected to usher in a new regulatory approach that could significantly alter how cryptocurrencies are overseen.  

In addition to Gensler's exit, SEC Commissioner Jaime Lizárraga has also indicated plans to resign on January 17, 2025.

At the time of reporting, the XRP price was $2.47.