Solana

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Dubai

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 <p>Crypto industry stalwarts remain dissatisfied with the SEC’s ‘regulation by enforcement’ approach. The latest victories of crypto companies in lawsuits against the agency have made people believe that there is a glimmer of hope. Ripple Labs’&nbsp;Chair and Co-Founder&nbsp;Chris Larsen hoped that the latest developments marked the “beginning of the end” of the SEC’s authoritarian policies. He pointed out that it was time for Congress to take the lead on crypto regulations.</p> 
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    <p lang="en" dir="ltr">I sincerely hope we’re seeing the beginning of the end of the SEC’s policy of regulation by enforcement. The Courts are rejecting it, and now it’s time for Congress to take the lead on <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> policy.<br><br>Thanks @EdLudlow @technology for the chat! https://t.co/3gZOR4lq5J</p>— Chris Larsen (@chrislarsensf) September 6, 2023 
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 <p><strong>Also Read: XRP Volume Rises to $720 Million: Surpasses Dogecoin, Solana</strong></p> 
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 <h3 class="wp-block-heading" id="h-regulators-have-killed-san-francisco-ripple-executive">Regulators Have ‘Killed’ San Francisco: Ripple Executive</h3> 
 <p>In a recent interview with Bloomberg, Larsen pointed out that San Francisco was set to become “the blockchain capital of the world.” However, it lost its status owing to regulatory crackdowns and the stern policies of the government. This has forced several companies to shift their operations overseas. Contrastingly, London, Singapore, and Dubai are now bigger hubs for the blockchain industry because these regions have “clear rules that protect consumers and also celebrate innovation,” Larsen said. Revealing how The U.S. “screwed up” on <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and blockchain policy, he added,</p> 
 <p><strong>“They pretty much killed San Francisco from being what it was. We owned it, and we don’t anymore because the Biden administration, for whatever reason, decided they wanted to push this industry offshore.”</strong></p> 
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 <p><strong>Also Read: Abu Dhabi: Standard Chartered’s Crypto Firm Zodia Gets Broker Approval</strong></p> 
 <h3 class="wp-block-heading" id="h-larsen-fires-at-gensler-for-bullying">Larsen Fires at Gensler for ‘Bullying’</h3> 
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 <p>Larsen pointed out that the latest reforms in the industry have been brought about via court battles and not pro-active regulation. Criticizing the SEC Chair’s approach, he said that Gensler was “engaging in this regulation by enforcement” instead of looking to lawmakers to pass clearer legislation. He added,</p> 
 <p><strong>“He just likes that lack of clarity so that he can go after anybody and make up the rules as he goes along through bullying. And that’s not the American way.”</strong></p> 
 <p>The <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> executive hoped for America to start leading the global troops again. Even though Larsen continues to be optimistic about <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and blockchain in the U.S., he revealed that <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> is mostly hiring abroad. In fact, he urged entrepreneurs to consider going to London, Singapore, or Dubai to start their companies.</p> 
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 <p>These regions have seen notable growth owing to their <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-friendly approach. Dubai recently granted a license to a Ledger and CoinShares-backed firm, Komainu,&nbsp;to provide services to its clients in the region. In fact, several other companies, including Bybit, have also opened their global headquarters in Dubai. London, on the other hand, has been able to entice firms like&nbsp;A16z to set up their <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> base. Alongside, it is interesting to note that around 10% of the adult population here has already bought <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets in the past. Singapore has also managed to establish a name for itself as a “<a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> hub.” Right from&nbsp;<a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>&nbsp;to&nbsp;Crypto.com, a host of prominent companies have been receiving licenses from the Monetary Authority to extend their services in the country. The well-regulated, efficiently governed region is what has been attracting firms to Singapore.</p> 
 <p><strong>Also Read: Crypto Hubs 2023: Did Dubai, Abu Dhabi, Hong Kong Make a Cut?</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>Chris Larsen</li> 
  <li>crypto</li> 
  <li>Gensler</li> 
  <li>regulations</li> 
  <li>Ripple</li> 
  <li>sec</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-co-founder-gensler-likes-lack-of-clarity-tbt61849.html">https://thebittimes.com/ripple-co-founder-gensler-likes-lack-of-clarity-tbt61849.html</a></p>

Ripple Co-founder: Gensler 'Likes' Lack of Clarity

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