Ripple Executives Back Cryptocurrency Proponent to Lead SEC
Date: 2024-12-05 Author: Gabriel Deangelo Categories: BUSINESS
Alderoti noted that Atkins’ appointment, as well as working in tandem with Hester Peirce and Mark Uyeda, could bring “common sense” and true investor advocacy back to the agency. Garlinghouse, in turn, called Atkins “an excellent choice,” emphasizing his ability to end the “era of prohibition” in the crypto market and promote economic growth and innovation.
Paul Atkins, a former SEC commissioner, is known for his market-oriented approach and desire to reduce regulatory pressure. His nomination was the result of President-elect Donald Trump’s campaign, which actively supported cryptocurrencies and blockchain technologies.
Atkins’ potential appointment could mark a major departure from the hard-line approach of Gary Gensler, the previous SEC chief who was criticized for his overly strict approach to regulation that stifled industry development.
Ripple’s support for Atkins’ candidacy comes as XRP recently hit $2.90, with analysts suggesting the price could soon surpass $3.00. The rally is driven by several factors, including the upcoming introduction of the RLUSD stablecoin and hopes for regulatory clarity in the U.S. amid political changes.
These developments highlight the significance of potential changes at the SEC that could not only streamline cryptocurrency regulation but also open up new opportunities for the entire industry.
