Brad Garlinghouse Accuses SEC of 'Inconsistent' Regulation of Cryptocurrencies

Brad Garlinghouse Accuses SEC of 'Inconsistent' Regulation of Cryptocurrencies

Brad Garlinghaus accused SEC in 'Inconsistent' Regulation of Cryptocurrencies

The US Securities and Exchange Commission (SEC) has taken an inconsistent approach to regulating the cryptocurrency industry. This was stated by the head of Ripple Brad Garlinghouse at the Collision conference in Toronto.

The CEO of the company recalled that in December 2020, the SEC accused Ripple of selling unregistered securities in the form of XRP. In his opinion, the inconsistent action of the regulator was the approval of the listing of Coinbase on Nasdaq in April 2021, although the bitcoin exchange “traded the token.” ?ref_src=twsrc%5Etfw

In September 2021, SEC Chairman Gary Gensler compared cryptocurrencies to the “Free Banking Era” from 1837 to 1863. Later, he repeated this idea and stated the importance of regulation of the industry.

Garlinghouse is not the first time criticizing the SEC. In the fall of 2021, he accused the Commission of refusing to provide clear legal norms for the industry.

Recall that in May 2022, the CEO of Ripple announced the desire of participants in the crypto industry to do the right thing in terms of regulation and the need for a transparent regulatory framework.

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