Gary

Ripple Labs and its executives have been dealing with <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" target="_blank" rel="noopener noreferrer nofollow">legal complications</a> from one of the biggest financial watchdogs. This has directly impacted the growth of XRP, Ripple’s native crypto. However, in recent events, Ripple CEO Brad Garlinghouse didn’t mince words when criticizing U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. Ripple CEO on SEC 
Speaking at an event, Ripple CEO labeled <a href="https://news.todayq.com/gary-genslers-shifting-views-on-bitcoin-etfs-and-the-two-sided-approach/" target="_blank" rel="noopener noreferrer nofollow">Gary Gensler</a> as a “political liability.” His critique centers on Gensler’s handling of crypto industry regulation. This includes the delays in approving spot bitcoin exchange-traded funds (ETFs) and high-profile lawsuits.
Brad Garlinghouse stated “I think the chair of the SEC, Gary Gensler, is a political liability in the United States. And I think he’s not acting in the interests of the citizenry, he’s not acting in the interests of the long-term growth of the economy, and I don’t understand it.”&nbsp; However, Ripple CEO expects a change in SEC leadership.
The much anticipated approval of several spot bitcoin ETFs by the SEC marked a major win for the crypto industry. However, Gensler’s stance regarding the risks associated with bitcoin ETFs, citing their vulnerability to price manipulation in unregulated markets, has sparked criticism.
However, this big acceptance came after a false announcement from the SEC’s X account, claiming approval for a Bitcoin ETF. It was revealed as a hack, the incident added a layer of complexity to an already complex regulatory landscape. Watchdog on crypto 
As reported earlier, the SEC dropped claims against Garlinghouse and Larsen. It came after acknowledgment from a judge’s finding that XRP sales on public exchanges did not constitute unregistered securities offerings. This legal battle added another layer to the complex relationship between Ripple and the SEC. It unfolds the context of broader regulatory scrutiny in the crypto market.
Despite Gensler’s concerns, the SEC faced a setback in court over a lawsuit challenging the Bitcoin ETF application of digital asset manager Grayscale. Garlinghouse weighed in, suggesting that Gensler’s approach appears repetitive, emphasizing the SEC’s continued losses in court battles.
The SEC’s legal actions against major crypto exchanges like Binance, Coinbase, and Kraken, accusing them of selling unregistered securities, remain ongoing. Ripple itself is entangled in a lawsuit initiated in 2020, alleging the illegal sale of XRP tokens in unregistered securities offerings. Notably, charges against Garlinghouse and co-founder Chris Larsen on the same counts were dismissed in October.
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Ripple CEO labels SEC chair Gensler a ‘Political Liability’ for Crypto

Todayq News

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