Ripple’s CEO, Brad Garlinghouse, commented on some trends in the contemporary crypto sphere. “It is a magical time to be alive,” Garlinghouse said in a recent interview with MacKenzie Sigalos of CNBC. This was his answer to Sigalos, who asked for his views on current happenings in the crypto space.

Key Topics in the Crypto Industry

“We discussed a lot of topics such as Biden’s veto of SAB 121, Gensler still at the SEC, and the latest SEC spot on Ethereum ETF clearance.”

Among them, he noted the recent development of a new focus on institutions at the national level. Election of pro-crypto, pro-innovation, and pro-consumer protection officials to key positions was highlighted by him, elaborating on the improvements in the industry’s incorporation into mainstream leadership.

It was to be expected, according to Garlinghouse, that recently the SEC cleared the Ethereum ETF. He explained that the SEC has been losing in politics, and the court of public opinion among other domains. Therefore, the decision not to approve Ethereum ETFs might have resulted in another loss-making situation for the commission.

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As much as Garlinghouse celebrates development in the crypto industry, his choice of the key decision that the Biden administration has to make is simply selecting Gary Gensler as the SEC Chair removed. To him, this is the most imperative step towards moving forward the appeal to the voters of crypto and development.

However, the CEO raised concern over President Biden’s veto of Congress’s decision on the Staff Accounting Bulletin (SAB 121). For instance, from the White House, he described the action as “incredibly disappointing,” making reference to the fact that Biden’s government has chosen a pivotal time to make an error.

According to Garlinghouse, the SAB 121 veto notification laid down the Biden administration’s attitude towards cryptocurrencies and could impact certain crypto-voters in the forthcoming US presidential elections.