Ripple CEO’s Criticism of US Regulators: “SEC Engaged in a Political Battle with the Industry”

Speaking at the Token 2049 panel held in Singapore on September 12th, Ripple CEO Brad Garlinghouse made statements about crypto regulations, addressing the regulatory uncertainty in the US. Garlinghouse leveled various criticisms at the SEC in his speech and warned entrepreneurs looking to establish new companies in the US.

Statements from Ripple CEO

The legal process that began with the SEC filing a lawsuit against Ripple in 2020 for violating securities laws has become a symbol of tension between crypto companies and financial regulators. The SEC’s subsequent lawsuits against Binance and Coinbase in June 2023 after years of delay escalated this tension significantly.

During this process, the SEC and SEC Chairman Gensler received intense reactions from many figures in the crypto ecosystem. Ripple CEO Brad Garlinghouse was one of the names who expressed criticism of the SEC multiple times during this process.

Speaking at the Token 2049 panel held in Singapore on September 12th, Ripple CEO Brad Garlinghouse once again targeted the SEC in his remarks and leveled various criticisms at US regulators. Garlinghouse also warned crypto entrepreneurs considering establishing companies in the United States.

“SEC Engaged in a Political Battle with the Industry”

Garlinghouse, who has previously directed intense criticism at the SEC through public statements, once again targeted US regulators in his speech at the Token 2049 panel held in Singapore on September 12th, drawing attention to the ongoing regulatory uncertainty. Garlinghouse emphasized that the United States should implement policies that encourage crypto innovation, similar to the crypto regulations in countries such as the UK, the United Arab Emirates, and Switzerland. Furthermore, Garlinghouse referred to the years-long legal process between Ripple and the SEC and stated that recent developments have been in favor of Ripple. In his speech, Garlinghouse also made critical remarks about US regulators, claiming that the SEC has engaged in a political battle with the industry.