© Reuters.
DAVOS – Ripple CEO Brad Garlinghouse expressed concerns at the World Economic Forum about the US Securities and Exchange Commission’s (SEC) approach to regulating cryptocurrencies. Mr. Garlinghouse criticized SEC Chairman Gary Gensler’s tough policies, suggesting they could be politically motivated and hamper economic growth.
The Ripple executive highlighted the need for the United States to remain competitive in the global market, especially in light of potential regulatory advancements, such as stablecoin legislation. He pointed out that the SEC’s selective approval of a Bitcoin exchange-traded fund (ETF) has impacted the value of Ethereum and the broader crypto market.
Additionally, Mr. Garlinghouse shed light on Ripple’s strategic direction, which includes expanding its payment solutions and ensuring financial stability for future acquisitions. However, he also indicated that the company is cautious about a potential IPO, given the current regulatory environment and the SEC’s approach to cryptocurrency-related offerings.
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