<ul><li>SEC Chair Gary Gensler emphasized the detrimental impact of noncompliance on consumer confidence and the broader financial ecosystem.</li><li>Ripple CEO Brad Garlinghouse accuses SEC Chair Gary Gensler of hypocrisy and undermining SEC integrity amid cryptocurrency compliance issues.</li><li>Several industry leaders have expressed frustration over the SEC&#39;s &#34;regulation by enforcement&#34; approach, seeking clearer regulatory guidelines.</li></ul>Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), recently <a href="https://x.com/GaryGensler/status/1737935615033737332?s&#61;20" rel="noopener noreferrer nofollow">spotlighted</a> the pervasive issue of noncompliance within the cryptocurrency industry. His comments have ignited a strong reaction from industry leaders, notably Brad Garlinghouse, CEO of Ripple, who has vocally criticized Gensler&#39;s stance and leadership.Gensler emphasized the detrimental impact of noncompliance on consumer confidence and the broader financial ecosystem. He pointed out the challenges faced by individuals dealing with bankruptcy courts due to the <a href="https://cryptotale.org/sec-chair-gensler-signals-potential-ftx-revival-under-new-leadership-report/" rel="noopener noreferrer nofollow">fallout from non-compliant entities</a>. Gensler&#39;s concern extends to the difficulties experienced by compliant actors in the industry, who are disadvantaged in a landscape riddled with non-compliant competitors.In a direct response, Garlinghouse accused Gensler of hypocrisy and undermining the integrity of the SEC. He highlighted Gensler&#39;s past associations and <a href="https://cryptotale.org/experts-question-secs-credibility-under-genslers-leadership/" rel="noopener noreferrer nofollow">alleged close ties</a> with Wall Street, including an 18-year tenure at Goldman Sachs. Garlinghouse&#39;s critique was particularly pointed regarding Gensler&#39;s <a href="https://cryptotale.org/deaton-wants-sbf-and-ftx-subpoened-over-sec-and-gary-gensler-meetings/" rel="noopener noreferrer nofollow">alleged interactions with key figures</a> in significant financial scandals, implying a disconnect between Gensler&#39;s public stance and private dealings.Read full article at <a href="https://cryptotale.org/ripples-ceo-challenges-secs-gensler-over-cryptocurrency-compliance/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Ripple's CEO Challenges SEC's Gensler Over Cryptocurrency Compliance

CryptoTale

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