Ripple CEO Brad Garlinghouse expresses frustration about blockade of the Genius Act in the Senate-delay of the US framework for stable coins

Ripple CEO Brad Garlinghouse expresses frustration about blockade of the Genius Act in the Senate-delay of the US framework for stable coins

ripple-CEO Brad Garlinghouse expresses frustration over blockade of the Genius Act in the US Senate

Brad Garlinghouse, CEO von Ripple, has expressed his frustration about the decision of the US Senate to block the Genius Act with 48 to 49 votes. This step delays the creation of a legal framework for stable coins in the United States, which could have a potentially impact on the entire crypto industry.

stablecoins have gained importance in recent years because they beat a bridge between traditional currencies and digital assets. The Genius Act would have created a clear regulatory basis that could serve the stability and safety of stable coins. Garlinghouse emphasizes that rapid regulation is necessary to promote innovations and to secure the competitiveness of the United States in the global financial sector.

The blockade of the cooperative offer once again shows the challenges in front of which the crypto industry is in the political arena. While some legislators recognize the benefits of stablecoins and find them worthy of support, there are still concerns about regulation and supervision of digital assets.

The frustration of Garlinghouse reflects the concerns of many actors in the crypto industry, which hope for clear legal regulation in order to eliminate legal uncertainties and to strengthen trust in digital currencies. In view of the high -growth market for cryptocurrencies and stable coins, many industry experts see an urgent need for comprehensive regulatory measures that ensure both innovation and consumer protection.

The developments related to the Genius Act are still being observed closely, since they could have a significant impact on the future regulation and growth of the crypto sector in the USA.