Crypto Czar Criticizes SEC’s Harsh Approach Amid Ongoing Ripple Lawsuit, Calls for Clearer Rules
The legal struggle between the Ripple Labs and the US Securities and Exchange Commission (SEC) has spans four years, which has caused sharp criticism of Ripple’s CEO Brad Garlinghouse and other leaders of other crypto industry. As the case continues, key figures such as Garlinghouse and lawyer John Deaton have repeatedly called on US legislators and regulatory agencies, especially SECs, and more consistent regulations.
Garlinghouse has been criticizing the Second Chairman Gary Gensler, claiming that the agency lacks clear rules to create an unpredictable environment for the encryption company. He and other industry figures expressed depression that they had the unfair enforcement of the unfair guidance on the unzerry guidance of encrypted operations that they believed unfair law enforcement and SEC.
However, after President Donald Trump was elected, the changes in US political leaders seemed to be happening. Many people in the cryptocurrency field expressed an optimistic attitude, that is, regulatory landscapes may begin to become more favorable. In the recent development, the newly appointed David Sacks of Cedo Tsar has commented on this issue, revealing that many founders have clear rules for Washington.
In his speech, saxophone explained that many people in cryptocurrency space urgently needed supervision clarity. He said: “In the past few years, the founder repeatedly told me that the first thing they needed was clarity.” “They just want to know what the road rules are so that they can abide by them. He said that the industry faced arbitrary prosecution for four years, and SEC would not tell the founders’ rules, but they still faced legal lawsuits.
As the Ripple case continues, many people hope that the government will take the necessary steps to provide a clear guide for the industry.
