{"id":35167,"date":"2024-07-31T07:09:02","date_gmt":"2024-07-31T07:09:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-ceo-criticizes-secs-inconsistent-crypto-regulations\/"},"modified":"2024-07-31T07:09:02","modified_gmt":"2024-07-31T07:09:02","slug":"ripple-ceo-criticizes-secs-inconsistent-crypto-regulations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-ceo-criticizes-secs-inconsistent-crypto-regulations\/","title":{"rendered":"Ripple CEO Criticizes SEC\u2019s Inconsistent Crypto Regulations"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The CEO of Ripple, Brad Garlinghouse, has harshly criticized the Securities and Exchange Commission (SEC) of the United States for its uneven enforcement of laws pertaining to the cryptocurrency sector. This criticism comes after the SEC declared that it will modify its lawsuit against Binance<\/a> to take into account the security standing of some cryptocurrency coins.<\/p>\n

The defendants, Changpeng Zhao (CZ), Binance Holdings Ltd., BAM Trading Services Inc., and BAM Management US Holdings Inc., filed a joint response to the court order on Tuesday together with the SEC. With regard to \u201cThird Party Crypto Asset Securities,\u201d the SEC announced that it intended to amend its complaint, having previously categorized a number of cryptocurrency assets as securities.<\/p>\n

Ripple CEO\u2019s Call for Clear Regulations<\/strong><\/h2>\n

Garlinghouse highlighted the contradictions between SEC Chair Gary Gensler\u2019s public statements and the agency\u2019s actual actions. Using the social media platform X, he pointed out the SEC\u2019s inconsistent regulatory practices, stating: \u201cMore evidence of SEC hypocrisy. Chair Gensler testified the rules are clear, yet his SEC can\u2019t figure them out and applies them haphazardly, festering more industry confusion.\u201d<\/em><\/p>\n

He further criticized the SEC, saying, \u201cA political agenda and\/or bad faith litigation tactics. Definitely not a \u2018faithful allegiance to the law.’\u201d<\/em><\/p>\n

Garlinghouse\u2019s comments reflect a growing frustration within the cryptocurrency industry over regulatory uncertainty. Many industry leaders believe the SEC\u2019s unclear guidelines and unpredictable actions hinder progress and foster distrust.<\/p>\n

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Under Garlinghouse\u2019s direction, Ripple has persistently advocated for transparent and unambiguous laws to foster business expansion and innovation. In order to maintain compliance in the constantly changing cryptocurrency world, the organization has actively pursued regulatory clarification. A historic decision about whether XRP<\/a> qualifies as a security was reached in July 2023 as a result of Ripple and the SEC\u2019s court feud.<\/p>\n

Garlinghouse\u2019s recent comments highlight how urgently uniform and open laws are needed to support the growth of the bitcoin market. He contends that in the absence of clear regulations, challenges would persist in the industry, ultimately impeding innovation and expansion. The continuous legal battles and unclear regulations are a wake-up call for clearer rules that can offer a solid basis for cryptocurrencies in the future.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) The CEO of Ripple, Brad Garlinghouse, has harshly criticized the Securities and Exchange Commission (SEC) of the United States for its uneven enforcement of laws pertaining to the cryptocurrency sector. This criticism comes after the SEC declared that it will modify its lawsuit against Binance to […]<\/p>\n","protected":false},"author":34,"featured_media":35168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35167"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35167"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35167\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35168"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}