Brad Garlinghouse (bgarlinghouse) believes there's a deeper reason behind the SEC's most recent actions. See what Ripple's CEO shared here -
against the blockchain company for over two years in regard to the same. Nevertheless, the firm’s CEO, who has openly criticized the securities regulator multiple times in the past, decided to weigh in on the matter.Garlinghouse didn’t agree with Gary Gensler’s official story that the Commission is working toward “pro-innovation.” In fact, he asserted that the regulator is trying to make amends as it failed to prevent the loud FTX crash last year.
Moreover, Ripple’s head further blamed Gensler and its agency for overreaching as they don’t have the “power that he so desperately craves.” It’s embarrassing to watch an unelected bureaucrat flail like this to mask the fact that he and his agency don’t have the power that he so desperately craves. No one is fooled.Gary Gensler was welcomed by the crypto community at first after his appointment, given his blockchain-related background. However, that all turned against those who hoped for clear and rapid regulations as he and his agency have failed to provide regulatory frameworks, unlike other countries.
“All we have to show is that one of them is a security, and they should be properly registering and having rule books against fraud and manipulation as an exchange, broker, and the like.”
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