News
Ripple CLO Highlights Crucial Crypto Vote Ahead of US Polls
Stuart Alderoty, Chief Legal Officer of Ripple, reiterated the importance of crypto votes in view of the upcoming US presidential elections. Crypto assets and associated regulations have become a major issue ahead of the election, with many candidates making statements pointing to clearer policies. US lawmakers have also marked a shift seen in recent bipartisan efforts.
Ripple CLO rallies cryptocurrency vote
Ripple CLO Alderoty praised the recent lobbying of Congress, but added that cryptocurrency enthusiasts need to vote en masse in the November polls. In a June 7 post on X (formerly Twitter), Alderoty wrote that without the cryptocurrency vote, other efforts such as calls, letters and emails to lawmakers would be classified as noise.
It’s great when cryptocurrencies use their collective voice through calls, letters, emails to Congress, but if cryptocurrencies don’t VOTE everything becomes just noise. Politicians on both sides must understand that votes are at stake.
— Stuart Alderoty (@s_alderoty) June 7, 2024
This statement triggered a positive reaction from the crypto community as users expressed similar sentiments. Most crypto-asset users have pledged to support candidates with friendly policies to help the sectors thrive. This year, donations to crypto PACs reached $100 million with huge contributions from industry executives. Companies like it Coinbase they have committed to regulatory clarity and donated to Super PACs to advance the industry’s cause in upcoming elections.
The heat of pro-cryptocurrency legislation has been felt in Congress, with lawmakers working toward bipartisan efforts to usher in market clarity. Pro-Biden lawmakers, Representative Ro Khanna he recently rallied in support of the FIT21 legislation by asking the White House to support the bill.
“…concerns that the administration has been too negative about blockchain. Speaker Pelosi and I supported Patrick McHenry’s recent bill to provide regulatory clarity. I think it would be helpful if the White House supported it.”
Cryptocurrencies see a regulatory path
Despite recent headwinds, the cryptocurrency market has made great strides ahead of the US elections this year. In recent years, the industry has complained about the lack of clarity in the rules and approach of the Securities and Exchange Commission (SEC). Last month, lawmakers voted to overturn the SEC’s SAB 121, despite President Biden’s veto. In the meantime the Chamber has approved the FIT legislation21. Market participants have asked the Senate to support the bill to create clearer guidelines.
Read also: The zkSync Era v24 update goes live on the main network
✓ Share:
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and has an eye for the latest news. Staying up to date on trends, David has reported in several niches including regulation, partnerships, cryptocurrencies, stocks, NFTs, etc. Away from the financial markets, David cycles and rides horses.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for personal financial loss.