Ripple CEO Brad Garlinghouse Declares “New Dawn” for U.S. Crypto Policy

From Skepticism to Support: A Policy Shift

Ripple CEO Brad Garlinghouse says the U.S. policy environment for crypto has flipped from cautious to constructive, calling the change a “new dawn.”

Speaking after the Wyoming Blockchain Symposium, held alongside the Federal Reserve’s Jackson Hole meeting, Garlinghouse emphasized how dramatic the mood shift has been compared to last year. Instead of leading with skepticism and enforcement threats, policymakers are now engaging in innovation-driven conversations around custody, token issuance, and disclosures.

Why This Pivot Matters

Garlinghouse argues that this shift could unlock trillions in long-term value. Clearer rules would:

• Boost institutional allocations, as large investors gain regulatory confidence.
• Encourage corporate treasuries to adopt tokenized assets.
• Enable banks and payments firms to expand blockchain-based services.

He stressed that durable rulebooks, rather than piecemeal enforcement actions, are what the industry needs to expand responsibly.

U.S. Reclaiming Crypto Leadership

For years, jurisdictions like Europe, Singapore, and Dubai moved faster on tokenization frameworks. Garlinghouse says the U.S. now has a window of opportunity to reassert leadership—but it hinges on Congress and regulators codifying stablecoin and market-structure rules.

Encouragingly, he noted alignment between the executive branch and Capitol Hill, with policymakers increasingly viewing crypto as critical financial infrastructure rather than a fringe experiment.

Signals From the Market

The thaw in policy discussions coincides with rising institutional adoption trends:

• Corporate treasuries are testing tokenized cash for payments and settlement.
• Asset managers are deepening crypto research and allocations.
• Banks are experimenting with blockchain rails for collateral mobility and cross-border transactions.

Garlinghouse views these moves as early indicators of institutionalization, with the potential to accelerate if the U.S. finalizes workable regulatory rulebooks.

Remaining Challenges

Despite the optimism, risks remain:

• Fragmented oversight could still result in conflicting interpretations across agencies.
• Clarity is urgently needed on staking, stablecoin reserves, and token classifications.
• Industry players must continue to strengthen compliance and security controls.

Still, Garlinghouse emphasized that the debate’s tone has changed: the question is no longer “Should crypto exist?” but “How should guardrails be implemented?”