U.S. will be ‘more pro-crypto’ after this election, no matter who wins, says Ripple CEO Garlinghouse

Ripple Labs CEO Brad Garlinghouse has been skeptical of crypto regulation in the U.S., but he is feeling highly optimistic about the post-election environment around the corner.

"This is the most important election we've had, but I also believe no matter what happens, we're going to have a more pro-crypto, more pro-innovation Congress than we've ever had," he said in a Wednesday conversation with CNBC at DC Fintech Week.

Ripple, a veteran company in crypto known in part for its close association with the XRP token, operates a global payments business with banks and financial institutions as its main customers. About 95% of its business takes place outside of the U.S., which Garlinghouse said is partly a reflection of the contentious environment in Washington.

In 2020, the U.S. Securities and Exchange Commission sued Ripple, but last year the company scored a big victory for the industry when a judge determined that XRP is not a security when sold to retail investors on exchanges.

On Wednesday, Garlinghouse offered a piece of advice to fintech startups in this changing time: "Incorporate outside the United States."

Nevertheless, he was upbeat about where the industry is heading in the long term.

"Anybody who doesn't believe that no matter what, we're going to end up in a better place, is not paying attention … and [if in] 10 years we look back on how the U.S. got it wrong for years and years. … It's going to be a speed bump, and this industry is going to continue to thrive."

Ripple has donated at least $45 million to the Fairshake pro-crypto political action committee. Co-founder Chris Larsen recently donated $11 million to Vice President Kamala Harris' campaign. Garlinghouse pointed out he was intentionally wearing a purple tie