US Government Remains Hostile Toward Crypto Despite Ripple's SEC Win, Says CEO

Ripple CEO Brad Garlinghouse discussed the U.S. government’s crypto stance at the DC Fintech Week conference on Wednesday. Ripple recently won several legal battles against the U.S. Securities and Exchange Commission (SEC). The Ripple executive asserted that the SEC’s stance on cryptocurrencies, particularly Chair Gary Gensler’s view of crypto as the “Wild West,” is influenced more by a political agenda than well-defined regulatory policies. He underscored that this approach is hindering the crypto industry’s advancement in the United States. Gensler also recently explained that he is taking a litigation-heavy approach to regulating the crypto industry because crypto is an industry that is rife with fraud, abuse, and misconduct. He warned this week that anyone wanting to be in crypto must “do it within the law.” Noting that the U.S. has displayed a hostile stance towards cryptocurrencies, the Ripple boss pointed out that other nations are welcoming companies and investments in the crypto sector with clearer regulations. This includes the U.K. which reaffirmed earlier this month its commitment to establishing itself as a global cryptocurrency hub. U.S. is putting its early lead at risk and losing its share of the crypto market. Source