Ripple CEO Brad Garlinghouse publicly praised President Donald Trump after the GENIUS Act was signed, a landmark bill on cryptocurrency regulation that has now officially become law. This new act introduces the first federal oversight framework for stablecoins in the United States.
Although Garlinghouse was not present at the ceremony at the White House, he confirmed that the Ripple team was present at the signing. On X, he described his reaction to the administration and their increasingly open attitude towards the digital asset industry, while asserting that this administration is the most crypto-friendly in U.S. history.
The GENIUS Act requires all stablecoins to be fully collateralized at a 1-1 ratio by U.S. dollars or other equivalent assets. This action will promote credibility, consumer safety, and transparency regarding compliance with rules in the stablecoin industry.
Stuart Alderoty, Ripple's General Counsel, responded enthusiastically to the new law, stating that it is a ray of hope for pioneers in the digital asset space. He explained that this law provides legal assurances for businesses and consumers participating in the rapidly growing cryptocurrency market.
Industry Leaders Support the Regulatory Standards of the GENIUS Act
Many other prominent voices in the industry agree with this view. Coinbase's General Counsel Paul Grewal highlighted the role of the bill in maintaining the dominance of the U.S. dollar through managed stable growth. He added that regulatory certainty will allow for more dollar-backed tokens globally.
TRON founder Justin Sun also expressed confidence in this bill, describing it as a functional framework that promotes responsible innovation. He emphasized the need to focus on establishing stablecoins, where the currency is properly collateralized to protect users and build trust.
This large-scale support from major cryptocurrency companies comes at the end of the year, a time that sees more political activity and lobbying for greater transparency in the regulation of digital assets. Ripple and other companies have funded candidates who support cryptocurrency and seek fairer regulation.
The decision to approve Trump's GENIUS Act marks a shift from his previous skeptical attitude towards cryptocurrency. This new awareness from his administration regarding digital finance is increasingly gaining strong support from key stakeholders in the field.
Garlinghouse's praise for the Trump administration signals a new chapter in the relationship between Ripple and federal regulators. With the GENIUS Act now in effect, the cryptocurrency industry is preparing to operate under a more stringent and structured legal framework.
