Chris Giancarlo, a frontrunner for Trump’s “crypto czar,” predicts the SEC will abandon its legal battle with Ripple Labs as crypto becomes central to U.S. economic growth.
Ripple’s Legal Battle May End, Predicts “Crypto Dad”
Chris Giancarlo, former Chairman of the Commodity Futures Trading Commission (CFTC) and a leading candidate for Trump’s crypto czar role, stated in a recent interview that the U.S. Securities and Exchange Commission (SEC) is likely to drop its lawsuit against Ripple Labs. Giancarlo’s remarks reflect growing sentiment in the crypto industry that the SEC’s regulatory overreach is stalling innovation.
My full interview w “Crypto Dad” @giancarloMKTS via @FoxBusiness foxbusiness.com/video/63652249…
Giancarlo has long argued that Ripple’s XRP token does not meet the criteria for a security. His views align with parts of Judge Torres’s 2023 ruling, which found certain XRP transactions fell outside securities regulation.
Trump’s Vision: Crypto as an Economic Catalyst
Giancarlo highlighted former President Trump’s evolving stance on digital assets, noting that crypto, along with AI and quantum computing, forms part of Trump’s vision for a “second industrial revolution” in the U.S. “Trump wants to turbocharge the U.S. economy, and he sees crypto as one path to achieving that,” Giancarlo explained.
Under a potential second Trump administration, Giancarlo advocates for a coordinated crypto strategy, including the formation of a “crypto council” to foster collaboration across federal agencies.
SEC Under Scrutiny
Giancarlo criticized the SEC’s current leadership under Gary Gensler, citing low morale, talent attrition, and overaggressive enforcement as major issues. He believes new leadership could pave the way for clearer regulatory frameworks that prioritize innovation.
As for reports that I’m in mix to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t want to have do it again. DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.
As XRP continues to trade at $1.45, Ripple’s supporters, including Giancarlo, hope this ruling will be a turning point for regulatory clarity and growth in the crypto sector.
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