Ripple CEO Brad Garlinghouse recently criticized the U.S. Securities and Exchange Commission Chairman Gary Gensler on Tuesday, calling him a “political liability” over his approach to regulating crypto.
In a talk with CNBC, Garlinghouse accused Gensler of not acting in the public interest, saying he has delayed approving bitcoin exchange-traded funds and pursued lawsuits against crypto companies like Ripple.Â
He continued saying Gensler’s repeated opposition to bitcoin ETFs, despite losing in court, shows he is stuck in the past. He argued Gensler is waging an ineffective campaign against crypto that keeps resulting in SEC losses in court.
The comments come after the SEC recently approved several spot bitcoin ETFs following a court defeat. However, Gensler has voiced concerns over risks in the crypto markets.Â
Ripple is also battling the SEC in an ongoing lawsuit alleging illegal securities sales. Garlinghouse predicted the SEC would lose again and said a new chair would benefit Americans. He believes Gensler’s stance is hindering innovation and economic growth in crypto.
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