Ripple CEO Brad Garlinghouse Demands Accountability For SEC’s Anti-Crypto Stance

Ripple CEO Brad Garlinghouse has criticized the U.S. Securities and Exchange Commission (SEC) under Gary Gensler. He demanded that the SEC be held accountable for their regulatory approach regarding the cryptocurrency industry.

Brad Garlinghouse, highlighted concerns in the wake of the recent U.S. election. He said that the SEC’s actions have affected the broader digital asset industry.

Brad Garlinghouse Pushes for Clear Crypto Regulations

Under Gary Gensler SEC ramped up enforcement against the crypto industry. There have been multiple lawsuits and Wells Notices sent to some major crypto firms.

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OpenSea, Robinhood, Uniswap, and other companies received notices, and tensions between the regulators and the industry grew.

Industry leaders such as Garlinghouse argue that the SEC’s regulation-by-enforcement approach has stymied innovation and created uncertainty, and they’re trying to do something about it.

Brad Garlinghouse said a balanced approach was the only way to stimulate growth. These concerns became more apparent in the recent election, where so many in the crypto community supported pro-crypto candidates.

John Deaton made a pretty good showing in Massachusetts—even garnering support from non-Trump supporters—because he’s a strong pro-crypto voice.

Ripple CEO Urges Gensler’s Replacement at SEC

With a lot riding on Trump’s victory, crypto advocates have high hopes for a new SEC outlook. During his campaign, Donald Trump promised to remove Gensler from regulators and clarify crypto regulations.

Top candidates to potentially replace Gensler include SEC Commissioners Hester Peirce and Mark Uyeda and Robinhood’s Chief Legal Officer Dan Gallagher.

Garlinghouse congratulated Trump in his post-election remarks and outlined a potential agenda for digital asset industry advancement.

He said former CFTC head Chris Giancarlo, former Acting Comptroller of the Currency Brian Brooks, and former SEC commissioner Daniel Gallagher might be able to fill in.

Transparent Regulations Could Boost Crypto Innovation

Garlinghouse called upon the new administration to propose a structured digital asset market bill in the Senate. He said Trump should work with both parties to establish clear regulatory guidelines for the crypto industry.

This may lighten regulatory burdens on crypto firms or encourage innovation in the digital asset market space.

Garlinghouse also urged for clarity on Ethereum’s legal classification. He said transparent guidelines would stabilize the crypto sector in a balanced regulatory environment.