Ripple Discusses Crypto Asset Policies with White House: Here’s What Happened

• Ripple and other crypto firms engage with White House advisers.
• No policy commitments or changes were made during the meeting.
• The crypto industry continues to seek clarity amid regulatory challenges

Ripple Labs, along with other leading crypto firms such as Coinbase and Kraken, recently engaged in a Zoom call with White House advisers to discuss concerns over crypto asset policies in the U.S. Notably, the meeting did not result in any commitments or policy changes, leaving the industry in a state of uncertainty.

The call, a follow-up to an earlier discussion in July, included high-level officials such as Deputy Chief of Staff Bruce Reed, National Economic Adviser Lael Brainard, Congressman Ro Khanna, and Deputy Treasury Secretary Wally Adeyemo. 

Key figures from the crypto industry, including Ripple CEO Brad Garlinghouse, Skybridge Founder Anthony Scaramucci, and venture capitalist Mark Cuban, were present to voice their concerns.

Notably, executives from Ripple and Coinbase have been vocal critics of the Biden administration’s approach to digital asset regulation, particularly actions by the U.S. Securities and Exchange Commission (SEC). As a result, these companies have been major donors to the Fairshake political action committee during the current election cycle, highlighting their interest in future policy direction.

Politically, the crypto community is divided. Former President Donald Trump’s campaign has shown strong support for the crypto industry, advocating for Bitcoin mining and opposing central bank digital currencies. In contrast, Vice President Kamala Harris’s campaign has not yet publicly stated its position on crypto-related issues.

Reacting to the news of the meeting, Gemini co-founder Cameron Winklevoss expressed optimism about Harris’ eventual endorsement of crypto.

Coinbase’s Chief Legal Officer, Paul Grewal, acknowledged ongoing discussions with the Harris campaign but emphasized the lack of concrete outcomes. “The focus is on the future,” Grewal stated, highlighting the need for proactive policy development.

While the dialogue with the White House did not result in any policy shift, the participation is a step towards bridging the gap between innovation and governmental oversight.