After ending 2020 facing a lawsuit from the U.S. Securities and Exchange Commission under Donald Trump's administration, Ripple's leadership is looking to the new year and a new U.S. President to bring a change in regulations more favorable to the firm. According to a post on the Ripple website featuring comments from key executives, the firm is predicting the incoming Biden administration will most likely "bring a renewed focus on regulation and enforcement" in the crypto space. "As we've seen, a lack of a clear regulatory framework over the last four years in the U.S. especially has left fintech and blockchain players in a state of limbo," the post said. "Other countries like the UK, Switzerland, Singapore and Japan are miles ahead." Both Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have been vocal about their criticism of the SEC's policy of "regulation through enforcement" prior to the lawsuit. Stu Alderoty, general counsel for the firm, was quoted in the piece as saying he believes the Biden administration would make crypto regulation a top priority over the next four years because it "understands its implications for public and private sector innovation."

Intelligent, well thought-out regulations communicated effectively and uniformly applied can help level the playing field and unleash innovation and further mainstream adoption here in the U.S.

Garlinghouse echoed this sentiment yesterday, praising Biden's nominee for SEC chair, Gary Gensler, as an individual more likely to be friendly to Ripple, and the crypto and blockchain industry as a whole:

Congrats to Gary Gensler! We're ready to work with SEC leadership and the broader Biden administration to chart a path forward for blockchain and crypto innovation in the US. https://t.co/EEloq4lwrG

— Brad Garlinghouse (@bgarlinghouse) January 18, 2021