Chris Larsen, the chair and co-founder of Ripple Labs, has asserted that the United States legal system aims to rectify the missteps in crypto policy made by the Biden administration.

He highlighted his company’s partial victory against the Securities and Exchange Commission in July, emphasizing that the regulator faltered on critical aspects pivotal to industry regulation.

Larsen Slams Gensler on the Lack of Crypto Regulatory Clarity

The Ripple co-founder recently expressed his belief that the United States has mishandled its crypto and blockchain policy approach, slamming Biden and Gensler.

Larsen addressed a recent court decision favoring Grayscale’s application to transform its Bitcoin trust into a spot Bitcoin ETF. He pointed out that this ruling delivered a rare and stern admonishment to the SEC, a sight not commonly witnessed in such proceedings.

Larsen contended that the recent ruling proves that SEC Chair Gary Gensler recognizes the ambiguity surrounding crypto laws. He further suggested that Gensler may prefer this lack of clarity as it allows him to pursue individuals and establish rules through assertive tactics. In contrast, Gensler has previously characterized the crypto market as rife with “fraudsters” and “Ponzi schemes,” asserting that the SEC’s securities laws are instrumental in rectifying this situation.

Biden’s Crypto Policies Criticized

The Ripple co-founder also lamented the impact of Biden’s crypto policies on San Francisco’s standing as the potential “blockchain capital of the world,” despite its established reputation as a tech hub in Silicon Valley. He pointed out that the city no longer holds this distinction, attributing it to the Biden administration’s decision to push the industry overseas for reasons unknown.

Highlighti

Go to Source to See Full Article
Author: Wayne Jones

Did you like this?
Tip BTC Newswire with Cryptocurrency

Donate Bitcoin to BTC Newswire

Scan to Donate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to BTC Newswire

Scan to Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to BTC Newswire

Scan to Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to BTC Newswire

Scan to Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to BTC Newswire

Scan to Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to BTC Newswire

Scan to Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:

BTC NewswireAuthor posts

BTC Newswire Crypto News at your Fingertips

Comments are disabled.