Garlinghouse suggested a leadership change may be in order at the SEC.
“I think at some point there will be a new chair of the SEC, and I think that will be a good thing for the American people,” he stated.
The comments come on the heels of the SEC approving several spot bitcoin exchange-traded funds (ETFs) last week, marking a major step towards mainstream cryptocurrency adoption. However, the agency faced backlash when its Twitter account was hacked just a day prior, resulting in a false post claiming numerous spot bitcoin ETFs had already been approved.
The hack and controversial ETF approvals have led to frustrations with the SEC from across the crypto industry. “The SEC should be investigating itself for multiple things,” said Garlinghouse.
Meanwhile, Ripple remains embattled in an ongoing lawsuit with the SEC over allegations it sold XRP tokens as unregistered securities. Garlinghouse himself faced charges that were dismissed last October.
The legal battle with the SEC has prompted repeated criticism from Garlinghouse. “Regulation through enforcement, let’s just bring lawsuits, that has to break,” he told last year.
This latest war of words suggests tensions between the SEC and the crypto industry, especially Ripple, are continuing to escalate. With both sides digging in, the stalemate shows no sign of ending anytime soon.
#RippleCEO #CryptocurrencyRegulation #BitcoinETF #SECvsRipple
