In an interview with CNBC at DC Fintech Week, Brad Garlinghouse said he has spent too much time and energy dealing with the problems created by the SEC and hopes the election will put an end to “this never-ending process.”
“The federal court decision has clearly determined that our XRP coin does not have the characteristics of a security, but the SEC continues to cling to its failed position. It got to the point where many federal judges agreed that the financial regulator and its head Gary Gensler’s war against cryptocurrencies is not only wrong, but has become a form of terror against virtually all crypto assets,” Garlinghouse said.
The head of Ripple mentioned that the current authorities are not ready to accept cryptocurrencies. In particular, members of the Senate Banking Committee, such as Elizabeth Warren and SEC Chairman Gary Gensler, have taken an extremely antagonistic stance towards the crypto industry, “putting pressure on banks and misinforming the public.”
Earlier, SEC Chairman Gensler said that his agency will continue to take a hard line regarding digital assets, including the use of enforcement measures, and will not create separate rules for regulation.
Source: Bits
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