Ripple CEO Criticizes US SEC Chairman Amid Efforts To Integrate Crypto And White House Policies

As broader efforts continue to align the cryptocurrency industry with White House policy, Ripple’s CEO said: Brad Garlinghouse He openly criticized U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, highlighting tensions between the digital asset industry and government regulators.

Garlinghouse’s criticism centers on the SEC’s regulatory overreach and lack of proper guidelines under Gensler’s leadership, as Ripple executives believe the regulatory oversight agency’s strategy towards the cryptocurrency industry has consistently stifled innovation and proven ineffective.

A big leap for the cryptocurrency industry

Recent post On the X (formerly Twitter) platform, Ripple CEO Brad Garlinghouse began by thanking U.S. Congressman Ro Khan for his outstanding leadership and involvement in the cryptocurrency industry. The Ripple CEO’s gratitude comes at a time of ongoing efforts for the digital asset industry to gain greater regulatory clarity to facilitate development and compliance in the United States.

Garlinghouse noted the recently concluded crypto roundtable, which featured key figures such as Mark Cuban, Coinbase CLO Paul Grewal, Circle CSO Dante Disparte, and U.S. Congressman Joe Negus, and noted that this development is the first step in putting words into action.

Garlinghouse said that while he sees the roundtable as a major leap forward for the industry, unfortunately, most Democrats still support SEC Chairman Gary Gensler’s illegal war on cryptocurrencies. According to the Ripple CEO, this continues to hinder the potential for American innovation to thrive. Republican He expressed his support for the digital assets sector.

The post read:

Unfortunately, the majority of Democrats in Congress continue to condone Gensler’s illegal war on cryptocurrency, stifling American innovation’s ability to thrive. It’s no wonder Republicans have come out in support of cryptocurrency.

Garlinghouse criticized Gensler, saying he would be remembered as a Luddite of his time, given current efforts to create a clear regulatory environment for digital currencies. “Easy words, hard actions, but necessary. Choose wisely. Voters are watching,” he added.

More legislation, not litigation, needed

As the digital asset sector continues to evolve, Coinbase CLO is Paul Grewal Participants in the recently concluded roundtable stressed that the purpose of the meeting was to highlight the need for legislation, not further litigation.

according to For Grewal, policy, like politics, is personal, and the 52 million Americans who own cryptocurrency see the government’s opposition to their access to the financial system as an attack on them. This is especially true for historically marginalized communities, which are disproportionately home to unbanked and underbanked people.

With such a productive roundtable, Grewal believes there is renewed hope that all this will change, highlighting the current momentum. Cipher Because it is nonpartisan.

Cryptocurrency market capitalization is $2.97 trillion | Source: TOTAL Trading View

Featured image from YouTube, chart from Tradingview.com

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