Afterwards ending 2020 facing a lawsuit from the U.South. Securities and Substitution Commission under Donald Trump's assistants, 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 house.

According to a postal service on the Ripple website featuring comments from key executives, the house is predicting the incoming Biden assistants will nearly likely "bring a renewed focus on regulation and enforcement" in the crypto infinite.

"As we've seen, a lack of a clear regulatory framework over the terminal iv years in the U.Due south. especially has left fintech and blockchain players in a land of limbo," the post said. "Other countries like the United kingdom of great britain and northern ireland, Switzerland, Singapore and Nippon are miles ahead."

Both Ripple CEO Brad Garlinghouse and co-founder Chris Larsen accept been vocal about their criticism of the SEC'south 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 4 years because it "understands its implications for public and private sector innovation."

"Intelligent, well thought-out regulations communicated finer and uniformly practical can help level the playing field and unleash innovation and further mainstream adoption here in the U.South."

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

The news comes as Jed McCaleb resumed his extraordinary sell off of portions of the 9.5 billion XRP he received as a co-founder of Ripple earlier leaving the business firm in 2014. Crypto annotator Leonidas Hadjiloizou reported that yesterday McCaleb sold 28.half dozen meg XRP — roughly $eight.5 million at the time of publication — following 25 days of no apparent activeness after news broke of the Ripple SEC lawsuit.

McCaleb still has billions of XRP tokens available in his wallets. In December, Whale Alert reported that the Ripple co-founder liquidated 1.2 billion XRP in 2020 for more than $400 one thousand thousand, bringing the total number of his remaining XRP tokens to roughly three.25 billion at the time of publication, or $970 million.

Ripple is currently facing a lawsuit from the SEC filed in December alleging the firm has been selling XRP tokens in violation of U.Southward. securities laws. The case is scheduled for a virtual pretrial briefing on Feb. 22.

At the time of publication, the cost of XRP is $0.xxx, having risen ii.9% in the concluding 24 hours.