In a major development within the cryptocurrency industry, Ripple CEO Brad Garlinghouse has joined the newly-formed Crypto Advisory Council, a body that is expected to play a pivotal role in shaping the future of crypto regulations over the next few years. The council, which was established by former President Donald Trump, has quickly become one of the most coveted positions in Washington, D.C.
The Crypto Advisory Council was officially launched through an executive order by Donald Trump during his first week back in office. Its mission is clear: foster blockchain and digital asset innovation while removing the regulatory hurdles that have hindered the industry’s growth, especially under the Biden administration. One of the council’s critical responsibilities is determining whether cryptocurrencies should be classified as securities or commodities, a decision that will directly impact how the industry is regulated.
This step is crucial as it could decide whether the Securities and Exchange Commission (S.E.C.) or the Commodity Futures Trading Commission (CFTC) will oversee cryptocurrency regulations, significantly influencing the industry’s future in the United States.
Brad Garlinghouse: A Key Player in Crypto Regulation
Garlinghouse, who recently met with Trump at his Mar-a-Lago estate, is just one of the many prominent figures vying for a spot on the 24-member council. As the CEO of Ripple, Garlinghouse brings a wealth of experience to the table, especially considering Ripple’s ongoing legal battle with the SEC. His potential role on the council signals his growing influence within the crypto space.
Industry insiders suggest that the competition for council positions is fierce, with executives, investors, and influencers all positioning themselves for a coveted spot. One insider even said, “Everybody and their mother is begging to be on this council.” With no formal application process, candidates are leveraging their networks and reputations to secure their place.
Brad Garlinghouse @Ripple CEO is on the shortlist for The US Crypto Advisory Council 🇺🇸
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 5, 2025
Reports @LJMoynihan from the @nypost pic.twitter.com/HrUeCPISu3
Other High-Profile Candidates for the Council
Garlinghouse is not alone in his pursuit of a seat at the table. Other notable names being considered include:
- Marco Santori, former general counsel of Kraken
- Frank Chaparro, crypto podcast host
- Jeremy Allaire, co-founder and CEO of Circle
- Brian Armstrong, CEO of Coinbase
- Kris Marszalek, CEO of Crypto.com
Additionally, influential figures such as Trump’s key campaign donors are reportedly advocating for their roles on the council, adding an extra layer of intensity to the competition.
The Road Ahead for the Crypto Industry
As the competition heats up, Trump’s aides are said to prioritize industry experience and expertise over political loyalty when selecting candidates. This marks a shift in how the council will be formed and could lead to a more informed decision-making process for the crypto industry. The outcome of this selection will undoubtedly influence the trajectory of cryptocurrency regulation in the U.S.
With so many high-profile figures competing for a place, the final makeup of the Crypto Advisory Council is still uncertain. As Bitcoin investor Aubrey Strobel aptly pointed out, “There are lots of people gunning for a spot.” It will be fascinating to watch who ultimately secures a seat on this powerful council and how they shape the future of cryptocurrency regulation.
