Ripple CEO angry with SEC boss!

The SEC has been engaged for several weeks in a witch hunt against crypto firms. A position that she defends tooth and nail to, according to her, clean up the American crypto industry and encourage its growth. Many players in this industry do not see the regulator’s actions in this way.

The CEO of the SEC, between farce and hypocrisy?

Recently, Gary Gensler, the head of the SEC, formalized legal proceedings against the crypto platform Binance. The procedure was an opportunity for him to publish a nominal list of 61 cryptos considered to be unregistered securities.

In the process, the head of the SEC spoke about the reasons underlying its regulatory policy. In a recent interview, Gary Gensler hinted that it would be motivated by the desire to stimulate innovation.

“We don’t need more digital currencies”, said the head of the SEC. Words that caused an uproar within the crypto community. The financier’s response particularly raised the hair of Brad Garlinghousethe CEO of Ripple.

On Twitter, the boss of Ripple did not refrain from raising the hypocrisy of such a statement. Especially since a few hours earlier, the SEC added Binance to the list of crypto companies it is suing.

“If it wasn’t clear already, it should be clear now, Chairman Gensler’s laughable stance in favor of innovation, as he asserted today, is the exact opposite.”[de ce qu’il affiche, Ndlr]», criticized Garlinghouse in a first tweet.

In a much more scathing second tweet, he adds: “It’s embarrassing to see an unelected bureaucrat fussing around to hide the fact that he and his agency don’t have the power he so desperately desires. No one is fooled”.

These remarks by Garlinghouse speak volumes about how crypto industry players view the SEC. Both the institution and the one who runs it are vomited by the crypto community. A trend that is not likely to change as long as it will be a victim of the inconsistent regulatory policy imposed on it by the SEC.