Ripple CEO Urges VP Harris to Shun 'Luddite' Bitcoin Critics in Congress

IconCryptoNewsTerminal Staff26 Jul, 2024

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Ripple CEO Urges VP Harris to Shun 'Luddite' Bitcoin Critics in Congress

Ripple CEO Calls for Distance from Crypto Detractors Ripple (XRP) CEO Brad Garlinghouse has urged Vice President Kamala Harris to distance herself from "Luddite" members of the Democratic Party who criticize cryptocurrencies. These individuals, he believes, are hindering innovation and driving constituents towards the Republican Party, which supports technological advancements. Crypto Embrace Essential for Economic Growth Garlinghouse emphasized the need for the United States to follow the lead of other nations in establishing clear regulatory frameworks for cryptocurrencies. He argues that these regulations foster innovation and drive economic growth. Congressman Denies Bitcoin's Worth Meanwhile, Democratic Congressman Brad Sherman asserted that Bitcoin lacks intrinsic value and may ultimately become worthless. However, he acknowledged the potential value of blockchain technology. This article highlights the ongoing debate within the Democratic Party over the future of cryptocurrencies. As the industry continues to grow, policymakers must balance regulatory concerns with the potential benefits of innovation.

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