{"id":50208,"date":"2021-09-27T13:06:02","date_gmt":"2021-09-27T10:06:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50208"},"modified":"2025-09-02T16:48:03","modified_gmt":"2025-09-02T13:48:03","slug":"brad-garlinghouse-accuses-the-sec-of-inaction-on-cryptocurrency-regulation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/brad-garlinghouse-accuses-the-sec-of-inaction-on-cryptocurrency-regulation\/","title":{"rendered":"Brad Garlinghouse accuses the SEC of inaction on cryptocurrency regulation"},"content":{"rendered":"<p>American innovation is on the line as the U.S. Securities and Exchange Commission (SEC) refuses to provide a clear framework for crypto regulation. That is the view of Ripple CEO Brad Garlinghouse.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Thanks <a href=\\\"https:\/\/twitter.com\/LizClaman?ref_src=twsrc%5Etfw\\\">@LizClaman<\/a> <a href=\\\"https:\/\/twitter.com\/CGasparino?ref_src=twsrc%5Etfw\\\">@CGasparino<\/a> for having me on the show! As I said, American innovation is on the line because of the SEC\u2019s refusal to provide a clear framework for crypto. 1\/2 <a href=\\\"https:\/\/t.co\/jnzEzWqUrS\\\">https:\/\/t.co\/jnzEzWqUrS<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\\\"https:\/\/twitter.com\/bgarlinghouse\/status\/1441856962170216451?ref_src=twsrc%5Etfw\\\">September 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Rather than engaging with the industry, the SEC uses meetings with companies to identify potential victims of its enforcement practices,\\&#8221; he added.<\/p>\n<\/blockquote>\n<p>Commenting on the regulator&#8217;s lawsuit against the fintech company and its leadership, Garlinghouse said:<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;When the dust settles, it will be clear that Ripple is on the right side of the law and history.\\&#8221;<\/p>\n<\/blockquote>\n<p>In December 2020 the SEC <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">accused the firm of selling unregistered securities<\/a> in the form of the XRP token for $1.3 billion.<\/p>\n<p>Garlinghouse called the suit <a href=\"https:\/\/forklog.com\/en\/news\/brad-garlinghouse-sec-suit-against-ripple-a-dangerous-precedent-for-the-crypto-industry\">a terrible precedent for the entire industry<\/a> and any company working with digital assets, and <a href=\"https:\/\/forklog.com\/en\/news\/ripple-ceo-brad-garlinghouse-calls-sec-lawsuit-regulatory-overreach\">regulatory arbitrariness<\/a>.<\/p>\n<p>In February the Commission <a href=\"https:\/\/forklog.com\/en\/news\/sec-clarifies-brad-garlinghouses-liability-in-ripple-lawsuit\">clarified the liability<\/a> of Garlinghouse and Ripple co-founder Chris Larsen. Representing them, lawyers <a href=\"https:\/\/forklog.com\/en\/news\/ripple-lawyers-say-sec-claims-are-unfounded\">demanded that the regulator&#8217;s claims be dismissed<\/a>.<\/p>\n<p>Earlier in April, the community urged Gary Gensler <a href=\"https:\/\/forklog.com\/en\/news\/ripple-community-calls-on-gary-gensler-to-drop-lawsuit-against-ripple\">to halt the lawsuit<\/a> against the firm.<\/p>\n<p>Gensler <a href=\"https:\/\/forklog.com\/en\/news\/gary-gensler-named-chair-of-the-sec\">took the helm of the Commission in the same month<\/a>. He <a href=\"https:\/\/forklog.com\/en\/news\/gary-gensler-backs-harmonisation-of-crypto-regulation\">advocated harmonisation of crypto-industry regulation<\/a>. In the SEC chief&#8217;s view, the legal norms <a href=\"https:\/\/forklog.com\/en\/news\/gary-gensler-regulation-is-necessary-for-the-survival-of-cryptocurrencies\">are necessary for the survival of cryptocurrencies<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American innovation is on the line as the U.S. Securities and Exchange Commission (SEC) refuses to provide a clear framework for crypto regulation. This view was voiced by Ripple CEO Brad Garlinghouse.<\/p>\n","protected":false},"author":1,"featured_media":50209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1274,1138,36,128],"class_list":["post-50208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brad-garlinghouse","tag-opinions","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=50208"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50208\/revisions"}],"predecessor-version":[{"id":50210,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50208\/revisions\/50210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/50209"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=50208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=50208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=50208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}