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<p>The SEC has been on a witch hunt against crypto firms for several weeks now. It staunchly defends its position to clean up the American crypto industry and promote its growth. However, many players in this industry do not see the regulator’s actions in the same light.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/06/US-SEC-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/06/US-SEC-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/06/US-SEC-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/06/US-SEC-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/06/US-SEC.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="SEC logo"></div><div class="my-4"></div>



<h2 id="h-the-sec-ceo-between-farce-and-hypocrisy">The SEC CEO: Between farce and hypocrisy?</h2>



<p>Recently, Gary Gensler, the head of the SEC, officially <a href="https://www.cointribune.com/la-sec-charge-binance-et-cz/" target="_blank" rel="noreferrer noopener">filed lawsuits against the crypto platform Binance</a>. This move provided an opportunity for him to publish a list of 61 cryptocurrencies that are considered unregistered securities.</p><div class="my-4"><div class="ads ">
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<p>Following this, the SEC official expressed the underlying reasons for his regulatory policy. In a recent interview, Gary Gensler hinted that it is motivated by a desire to stimulate innovation.</p>



<p>“<em>We don’t need more digital currencies,</em>” declared the SEC leader. These statements sparked outrage within the crypto community. Ripple CEO <a href="https://u.today/ripple-ceo-genslers-pro-innovation-stance-is-a-farce" target="_blank" rel="noreferrer noopener">Brad Garlinghouse</a> was particularly incensed by the financier’s response.</p>



<p>On Twitter, the Ripple CEO didn’t hesitate to point out the hypocrisy of such a statement, especially considering that just a few hours earlier, the SEC had added Binance to the list of crypto companies it is suing.</p>



<figure class="wp-block-image size-full"><img decoding="async" width="601" height="630" src="https://www.cointribune.com/app/uploads/2023/06/WhatsApp-Image-2023-06-07-at-18.04.53.jpeg" alt="" class="wp-image-608098" srcset="https://www.cointribune.com/app/uploads/2023/06/WhatsApp-Image-2023-06-07-at-18.04.53.jpeg 601w, https://www.cointribune.com/app/uploads/2023/06/WhatsApp-Image-2023-06-07-at-18.04.53-286x300.jpeg 286w" sizes="(max-width: 601px) 100vw, 601px"><figcaption class="wp-element-caption"><a href="https://twitter.com/bgarlinghouse/status/1666126927583666176" target="_blank" rel="noreferrer noopener">https://twitter.com/bgarlinghouse/status/1666126927583666176</a></figcaption></figure>



<p>Garlinghouse’s remarks shed light on the perception of the crypto industry towards the SEC. <a href="https://www.cointribune.com/la-sec-charge-binance-et-cz/" target="_blank" rel="noreferrer noopener">Both the institution and its leader are despised by the crypto community</a>. This trend is unlikely to change as long as they continue to be subjected to the inconsistent regulatory policies imposed by the Securities and Exchange Commission.</p>

Ripple CEO furious at SEC chief!

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