Brad Garlinghouse said that the SEC is “attacking” the whole business.
As more industry leaders join the push to embrace digital assets, criticism of America’s crypto crackdown intensifies. The CEO of Ripple has shared his opinions.
The CEO of Ripple, Brad Garlinghouse, is the most recent individual to come out against the U.S. government’s crypto war.
The CEO of Ripple told Bloomberg on March 2 that crypto and finance were already leaving US land. “I’ve said it before, and I’ll repeat it: sending crypto overseas is bad for American innovation. “Stop, complete stop.”
He said XRP was not the primary focus of the Securities and Exchange Commission’s action against Ripple. It’s about the business and how the SEC is “going on the offensive” against the whole sector.
Garlinghouse stated that not everyone recognized this when the lawsuit started more than two years ago. Yet, the agency’s recent crypto battle has made it plain that it opposes the whole business.
In addition, he mentioned five recent SEC enforcement proceedings and stated: “This is an unhealthy method of regulating an industry.”
The CEO from Ripple said that the United States was already behind nations like Australia, the United Kingdom, Japan, Singapore, and Switzerland. “Many nations have taken the time and made an effort to establish clear rules of the road,” he said.
Ripple enthusiast “XRPcryptowolf,” remarked: “I just don’t comprehend how authorities can’t perceive that the crypto explosion will be comparable to the internet boom, which might aid our economy during these difficult economic times,”
Garlinghouse contrasted the crypto scenario to the early days of the internet when U.S. officials similarly considered prohibiting it. Developing a regulatory structure allowed the nation to become the worldwide leader for digital companies.
“There is a significant possibility that this will not occur with the next technological development of blockchain and cryptocurrencies. It has already begun to leave the United States.”
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