Ripple CEO Brad Garlinghouse highlighted the 119th U.S. Congress as a landmark moment for cryptocurrencies, calling it the most crypto-friendly legislative body in U.S. history.
This positive sentiment reflects the cryptocurrency industry’s belief that groundbreaking progress is on the horizon in areas where there has been little progress so far in regulation.
Crypto-friendly Congress: The Most Positive Environment Ever for Blockchain Innovation
On January 3, Garlinghouse shared his enthusiasm for the new term in Congress, emphasizing his energy for this important change. His remarks echo the sentiments of the pro-crypto movement that has been fueled by the recent election victory.
“Today, here in the United States, we welcome the 119th Congress, known as the most crypto-friendly Congress in history. The journey is just beginning, but there is no denying the energy and excitement already building across the industry. Let’s work together.” – Garlinghouse remarks .
Crypto advocacy group Stand With Crypto also expressed optimism, congratulating the election of 298 pro-crypto lawmakers from both parties . This diverse coalition includes first-term lawmakers and seasoned policymakers who are committed to advancing blockchain innovation.
“SWC welcomes the 119th Congress: the most crypto-friendly Congress in history. We look forward to a productive year with the 298 crypto-friendly legislators sworn in today. The future is bright!” – Stand With Crypto on X.
The rise of pro-cryptocurrency legislators is due to significant industry support. During the election, political action committees (PACs) like FairShake raised more than $200 million to support candidates who support innovation-friendly policies . Major contributors include Coinbase, Ripple, Jump Crypto, and prominent investors like Andreessen Horowitz .
This unprecedented alignment between the cryptocurrency industry and policymakers has raised optimism about regulatory clarity.
Many industry stakeholders believe the new Congress can advance important initiatives such as the Financial Innovation and Technology for the 21st Century Act (FIT21) , and are also looking forward to support for Senator Cynthia Lummis’ proposal to establish a strategic Bitcoin reserve .
Additionally, the crypto community expects this Congress to challenge the overzealous policies of regulators like the Securities and Exchange Commission (SEC), which have previously stifled innovation. Several crypto companies, including Coinbase and the Blockchain Association, have already expressed their readiness to work with lawmakers to create a balanced framework.
The widespread support for pro-cryptocurrency legislators represents a turning point in the push for clear, supportive regulation, paving the way for the United States to solidify its position as a global leader in blockchain and cryptocurrency innovation.
