Amy, did you see that the Ripple CEO, Brad Garlinghouse, made a ‘first 100-day checklist’ for Trump? What’s that about?

Yes! Garlinghouse put together a list of things he thinks Trump should focus on for crypto in his first 100 days. The main idea is to make things easier for the crypto industry.

So, what’s on the list?

First, he suggests that Trump should fire Gary Gensler, the SEC chair. Gensler has been tough on crypto, and Garlinghouse thinks a new chair would be better for the industry.

Who does he want as the new SEC chair?

He mentioned three people: Dan Gallagher from Robinhood, Chris Giancarlo who’s known as ‘Crypto Dad,’ and Brian Brooks, who used to be a top regulator for banks. All of them are more supportive of crypto.

Interesting! What else is on his checklist?

Garlinghouse also wants Trump to bring Republicans and Democrats together to pass a new digital asset market structure bill. This bill could create clearer rules for crypto companies.

Oh, like a set of guidelines so crypto companies know what’s legal and what’s not?

Exactly! Right now, there’s a lot of confusion, and that makes it hard for companies to operate. A clear law could help the industry grow.

Makes sense. Anything else on his list?

Yes, he wants clarity on whether Ethereum is a security. Ripple went through a long legal battle with the SEC, and they got a favorable ruling that XRP isn’t a security. Now he wants the same clarity for Ethereum.

Why does it matter if Ethereum is a security or not?

If it’s a security, it would have to follow strict rules, like stocks do. But if it’s not, it has more freedom, which could help with innovation.

So, basically, Garlinghouse wants Trump to make crypto-friendly changes right away.

Yes, exactly. He thinks this new administration is a big opportunity to improve the regulatory environment for crypto in the U.S.

I get it now. It’s like he’s giving Trump a to-do list to help the crypto industry grow.

That’s a great way to put it! Let’s see if Trump follows any of these suggestions in his first 100 days.