World Crypto Global
- Written by: Abdulkarim Abdulwahab
- Tue, 25 Jul 2023
- United States
Ripple CEO criticizes SEC’s crackdown on the crypto scene, blames the agency for industry mess, and calls for legislative clarity to protect investors. Brad Garlinghouse, the Chief Executive Officer of Ripple CEO, recently criticized the US regulator on Twitter concerning protecting retail investors in the crypto space. He expressed that the mess the crypto industry […] The post Ripple CEO Says SEC Created a Mess Claiming Cop on Crypto Beat without Legal Jurisdiction first appeared on The Crypto Basic.
Ripple CEO Says SEC Created a Mess Claiming Cop on Crypto Beat without Legal Jurisdiction
Ripple CEO criticizes SEC’s crackdown on the crypto scene, blames the agency for industry mess, and calls for legislative clarity to protect investors.
Brad Garlinghouse, the Chief Executive Officer of Ripple CEO, recently criticized the US regulator on Twitter concerning protecting retail investors in the crypto space.
He expressed that the mess the crypto industry finds itself in is a result of the Securities and Exchange Commission (SEC) overstepping its legal boundaries and claiming authority over cryptocurrencies without proper jurisdiction.
An important topic has come up about protecting retail. The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences.
Garlinghouse stated that the SEC’s overreach has left consumers in a dire situation, grappling with bankruptcy while the agency merely holds conferences. Furthermore, he noted the absurdity of the blame pinned on the US judge for ruling that XRP is not a security.
“It’s absurd to blame a Judge for faithfully applying the law,” Garlinghouse stated, implying that the responsibility lies with the SEC’s misguided regulatory stance.
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