Ripple CEO Slams ‘Gensler-Era’ SEC in Senate Testimony
The post Ripple CEO Slams ‘Gensler-Era’ SEC in Senate Testimony appeared on BitcoinEthereumNews.com. Garlinghouse highlighted that smart crypto regulations are key to realizing the future of Web3 in the U.S. Ripple CEO commended Congress for kickstarting crypto regulations, unlike the Gary Gensler era. Enhanced clear crypto regulatory outlook in the U.S. has bolstered mainstream adoption. Ripple Labs CEO, Brad Garlinghouse, testified before the United States Senate Committee on Banking, Housing, and Urban Affairs on Wednesday, July 10. Garlinghouse told the committee that “smart” legislation for the crypto industry should be based on the core principles of consumer protection and a pro-innovation mindset. Garlinghouse noted that cryptocurrency investors need regulations to protect them from fraud and scams in the nascent industry. With the cryptocurrency industry attracting some bad actors, Garlinghouse told the banking committee that the space needs proper oversight. However, Garlinghouse reminded the lawmakers that the United States has lagged behind other major financial hubs in regulating the crypto market. As such, Garlinghouse urged the lawmakers to consider smart regulations that foster pro-crypto innovations. “ A constructive and workable framework for digital assets and stablecoins that achieves these goals will expand access to financial markets, create jobs, boost the economy – and put the U.S. on the path to being a global blockchain and crypto leader,” Garlinghouse noted. Related: Ripple CLO Highlights Real Crypto Use Cases Ahead of Senate Testimony Garlinghouse’ Sharp Rebuke of the ‘Gensler-Era’ SEC According to Garlinghouse, the cryptocurrency market has recorded more gains since the Donald Trump administration took office earlier this year compared to the four year tenure of President Joe Biden. Garlinghouse highlighted that former SEC chair Gary Gensler demonized the crypto industry while the current administration believes that the nascent technology is here to stay. “I urge you to prioritize the passage of market structure legislation for digital assets through this Committee and the full Senate,…
The post Ripple CEO Slams ‘Gensler-Era’ SEC in Senate Testimony appeared on BitcoinEthereumNews.com.
Garlinghouse highlighted that smart crypto regulations are key to realizing the future of Web3 in the U.S. Ripple CEO commended Congress for kickstarting crypto regulations, unlike the Gary Gensler era. Enhanced clear crypto regulatory outlook in the U.S. has bolstered mainstream adoption. Ripple Labs CEO, Brad Garlinghouse, testified before the United States Senate Committee on Banking, Housing, and Urban Affairs on Wednesday, July 10. Garlinghouse told the committee that “smart” legislation for the crypto industry should be based on the core principles of consumer protection and a pro-innovation mindset. Garlinghouse noted that cryptocurrency investors need regulations to protect them from fraud and scams in the nascent industry. With the cryptocurrency industry attracting some bad actors, Garlinghouse told the banking committee that the space needs proper oversight. However, Garlinghouse reminded the lawmakers that the United States has lagged behind other major financial hubs in regulating the crypto market. As such, Garlinghouse urged the lawmakers to consider smart regulations that foster pro-crypto innovations. “ A constructive and workable framework for digital assets and stablecoins that achieves these goals will expand access to financial markets, create jobs, boost the economy – and put the U.S. on the path to being a global blockchain and crypto leader,” Garlinghouse noted. Related: Ripple CLO Highlights Real Crypto Use Cases Ahead of Senate Testimony Garlinghouse’ Sharp Rebuke of the ‘Gensler-Era’ SEC According to Garlinghouse, the cryptocurrency market has recorded more gains since the Donald Trump administration took office earlier this year compared to the four year tenure of President Joe Biden. Garlinghouse highlighted that former SEC chair Gary Gensler demonized the crypto industry while the current administration believes that the nascent technology is here to stay. “I urge you to prioritize the passage of market structure legislation for digital assets through this Committee and the full Senate,…
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