The landscape for cryptocurrency regulations may undergo a significant change in the near future. Nate Geraci, President of the ETF Store, has provided insights on the potential approval of XRP ETFs by the US SEC. He suggests that if Donald Trump wins the upcoming election, it could enhance the chances of approval. Trump has promised a more crypto-friendly approach, and Geraci believes that this would create a favorable environment compared to the current administration. However, Geraci warns that approval is not guaranteed due to the absence of CME-traded futures for XRP, which has complicated the SEC’s previous ETF decisions. In addition, the SEC would require a surveillance-sharing agreement to address concerns about market manipulation, but many XRP trading exchanges are unregulated. Geraci emphasizes the need for Congress to establish clear guidelines on which crypto assets should be classified as securities. Meanwhile, Chris Larsen, co-founder of Ripple, supports Kamala Harris and praises her understanding of the innovation economy.
READ MORE:
Australia Launches Its First Ethereum (ETH) ETF